Neo/Tether (NEOUSDT) 24-Hour Market Overview

• NEOUSDT opened at $6.884 and closed at $6.785, down 1.45% over 24 hours with a high of $6.946 and low of $6.777.
• Key support appears at $6.782, with a bearish engulfing pattern forming near the 12:00 ET close.
• Volatility expanded after 01:00 ET, with turnover surging as price dropped to 6.826.
• RSI hit oversold levels near 30, while MACD turned negative, signaling potential short-term reversal.
• Bollinger Bands contracted before the drop, confirming a period of consolidation followed by a sharp break lower.

Neo/Tether (NEOUSDT) traded in a 24-hour range of $6.777–$6.946, opening at $6.884 and closing at $6.785 by 12:00 ET. Total volume reached 118,964.85, with a turnover of approximately $808,069. The pair experienced a sharp selloff after 01:00 ET, driven by increased bearish momentum and volume spikes.

Structure & Formations

Price action on NEOUSDT displayed bearish pressure after a brief consolidation in the overnight hours. A key support level appears to be forming at $6.782, with a bearish engulfing pattern observed in the 01:30 ET candle that confirmed a reversal from a potential short-term high. A doji at $6.782–$6.785 suggests indecision around that level. On the 15-minute chart, the pair tested key Fibonacci retracement levels at 61.8% and 38.2%, particularly in the 01:00–01:45 ET window.

Moving Averages

Short-term moving averages (20/50) on the 15-minute chart show a bearish crossover in the early hours of 2025-09-14, reinforcing the downward trend. On the daily chart, the 50-period MA sits above the 100-period and 200-period MAs, indicating a longer-term bullish bias, but the recent price action shows a break below the 50-day MA, which may signal a near-term correction.

MACD & RSI

The MACD turned negative after 01:00 ET, with the histogram expanding as bearish momentum intensified. RSI dropped below 30 during the selloff, reaching a low of approximately 27 by 01:30 ET, signaling oversold conditions. However, divergence between RSI and price at the end of the downtrend may hint at a potential rebound. Traders may watch for RSI above 50 as a possible sign of bullish reversal.

Bollinger Bands

Bollinger Bands contracted between 2025-09-13 18:30 and 2025-09-14 00:00, suggesting a period of consolidation before the sharp break lower. Price closed below the lower band at 01:30 ET, confirming a bearish breakout. The current price sits near the middle band as of 12:00 ET, with volatility remaining elevated compared to the previous 12-hour window.

Volume & Turnover

Volume spiked significantly after 01:00 ET, coinciding with the price drop to $6.826, indicating aggressive selling pressure. Turnover confirmed the price drop, with the largest volume spike occurring during the 01:30 ET candle. However, a divergence occurred between volume and price after 03:00 ET, as volume decreased while price continued to trade lower, hinting at diminishing momentum.

Fibonacci Retracements

Applying Fibonacci retracement levels to the most recent 15-minute swing from $6.939 to $6.786, price found key resistance at 61.8% (~$6.845) and support at 38.2% (~$6.861). A test of the 38.2% level occurred at 03:45 ET, with a failure to break above suggesting bearish control. On the daily chart, the recent decline from $6.942 to $6.786 aligns with the 61.8% Fibonacci level at $6.818, a potential key support.

Backtest Hypothesis

The backtesting strategy involves a combination of RSI divergence, Bollinger Band breakout, and volume confirmation to identify potential short-term reversals. In the case of NEOUSDT, the oversold RSI and Bollinger Band breakout at 01:30 ET could have triggered a short entry, with volume confirming the move. A stop-loss could be placed above the 01:45 ET high at $6.822, and a take-profit aligned with the 38.2% Fibonacci level at $6.818. This approach may work best in high-volatility, range-bound environments like the one observed over the past 24 hours.

Given the current technical configuration, NEOUSDT may find support near $6.782–$6.818 in the next 24 hours, with a potential rebound from oversold levels. However, traders should remain cautious as divergence in volume and price could signal further bearish momentum if the rally fails to hold above $6.850.