NKN/Tether Market Overview for October 9, 2025

• NKN/Tether (NKNUSDT) traded in a bearish channel over the last 24 hours, with price closing near its 24-hour low.
• A key support zone formed between 0.0247–0.0251 after a failed bullish rebound in the early hours.
• Volume spiked during the 18:00–20:00 ET session before tapering off, signaling weakening selling pressure.
• RSI and MACD remained in negative territory, indicating oversold momentum.

NKN/Tether (NKNUSDT) opened at 0.0253 on October 8 at 12:00 ET, reached a high of 0.0262, and closed at 0.0246 on October 9 at 12:00 ET, after trading as low as 0.0242. The 24-hour volume totaled 6,738,641.0, with a notional turnover of $169,064.25. The price action reflected a consolidation phase after a failed bullish attempt near 0.026.

Structure & Formations

Price action showed a bearish consolidation pattern between 0.0247 and 0.0253, forming a key resistance cluster. A bearish engulfing pattern emerged in the 3:00 AM to 3:15 AM ET session as NKNUSDT moved from 0.0253 to 0.0249, confirming a shift in sentiment. A notable doji formed at 0.0251 around 5:45 AM, signaling indecision after a brief rally.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages remained bearish, with price failing to cross above the 50-period line. On the daily chart, the 50, 100, and 200-period moving averages all remained above the current price, suggesting a continuation of the longer-term downtrend.

MACD & RSI

The MACD remained below its signal line for most of the 24 hours, with a weak bullish crossover only appearing briefly around 11:00 AM. RSI dipped below 30 for much of the day, with a brief rebound to 45–47, but failed to close above 50, reinforcing the oversold condition.

Bollinger Bands

NKNUSDT traded near the lower Bollinger Band for much of the 24-hour period, with volatility decreasing as the band width narrowed. A minor break above the lower band occurred during a 4:00–4:15 AM ET session, but price quickly returned to the channel.

Volume & Turnover

Volume surged above 500,000 at 4:00 AM and 8:00 AM ET, but failed to drive price above 0.0260. Notional turnover followed a similar pattern, with the largest spike occurring during the 8:00–8:15 AM ET session. Divergence between volume and price movement around 10:00 AM suggests a lack of conviction in bullish moves.

Fibonacci Retracements

Applying a 0.0242 to 0.0262 retracement level, price found support at 0.0248 (61.8%) and 0.0251 (38.2%). A potential retest of the 0.0255 level may trigger a short-term bounce, but a close above 0.0262 would be required to invalidate the bearish case.

Backtest Hypothesis

A potential backtesting strategy for NKNUSDT involves entering short positions when price breaks below the 20-period moving average on the 15-minute chart and RSI dips below 30. A stop-loss could be placed above the most recent swing high, while a take-profit target could be set at the next key Fibonacci level. Given the recent bearish structure and low RSI readings, this approach appears to align with the current market conditions.