Nexo Market Overview: 24-Hour Analysis as of July 30, 2025

• Price closed higher with a bullish bias, forming a bullish engulfing pattern at the 24-hour close.
• Volume surged in the final 6 hours, confirming a rebound from key support at 1.305.
• RSI shows moderate momentum, not yet overbought, while MACD crossed above the signal line, indicating bullish momentum.
• Bollinger Bands show price near the upper band in the final hours, signaling increased volatility.
• Fibonacci retracement levels at 1.317 and 1.324 acted as strong resistance and support during key swings.

Nexo (NEXOUSDT) opened at 1.309 on July 29 at 12:00 ET and closed at 1.327 on July 30 at 12:00 ET, with a high of 1.329 and a low of 1.302. Total volume for the 24-hour period was 454,610.29 and total turnover was 588,432.15 USD.

Structure & Formations

The price action on NEXOUSDT showed a clear rebound from the 1.305 support level, which acted as a psychological floor during the early hours of the session. A bullish engulfing pattern formed at the 12:00 ET close, confirming a reversal from the prior bearish trend. Key resistances were identified at 1.317 and 1.324, both of which were tested and held during the session. A doji formed briefly near 1.312, indicating indecision before the final bullish breakout.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed into a bullish alignment, with price above both. The 50-period MA at 1.313 and 20-period MA at 1.316 provided dynamic support. On the daily chart, the 50-period MA at 1.315 and 200-period MA at 1.308 suggest the price is now trading above its mid-term trend, reinforcing a moderately bullish bias.

MACD & RSI

The MACD turned positive in the final 4 hours, with the signal line crossing below it, indicating growing bullish momentum. The RSI reached a high of 58 at the session’s end, suggesting the market is not yet overbought but showing signs of strength. The RSI bounced off the 50-level, signaling positive divergence from the earlier bearish phase.

Bollinger Bands

Price action remained within the Bollinger Bands throughout the session, with volatility expanding in the final 6 hours. The upper band reached 1.329, and the lower band settled near 1.302. Price closed near the upper band, suggesting increased buying pressure and a potential continuation of the upward move, though a reversal could occur if the bands compress again.

Volume & Turnover

Volume was unevenly distributed, with a sharp increase in the final 6 hours, particularly between 09:30 and 12:00 ET. The largest volume spike occurred at 09:30 ET, coinciding with a strong bullish breakout from 1.313. Turnover also spiked during this time, confirming the price movement rather than diverging from it. This suggests strong conviction in the upward move, though caution is warranted if volume declines after the breakout.

Fibonacci Retracements

Applying Fibonacci levels to the 1.302–1.329 swing, the 61.8% level at 1.317 and the 38.2% level at 1.324 acted as critical support and resistance during the session. Price found support at 1.317 before breaking through and testing the 1.324 level, which held during a brief pullback. These levels may continue to play a role in the next 24 hours.

Nexo (NEXOUSDT) appears to have gained momentum in the final hours of the session, with strong volume confirmation and key support levels holding. The bullish engulfing pattern and MACD crossover suggest a potential continuation of the upward trend, but traders should remain cautious as the RSI has not yet entered overbought territory, and a pullback to test the 1.317 level is possible. Price above 1.324 could signal a more aggressive bullish move, but risk remains if volume fails to sustain the rally.