NIO (NIO) price surges +4.11% to $5.04 while broader markets sink, with traders eyeing the next bullish breakout above key resistance levels.
NIO Price Bucks Market Trend with Impressive Rally
While most stocks bled red yesterday, NIO decided to dance to its own tune. The Chinese EV maker's stock jumped a solid 4.11% to close at $5.04, with the price swinging between a daily high of $5.23 and low of $4.75. Not bad for a day when the broader market was having a rough time.
What caught traders' attention wasn't just the green candle – it was how NIO bounced right off its trendline support like a basketball hitting the court. That kind of technical behavior usually gets momentum traders excited, and rightfully so.
A savvy trader on X pointed out that this bounce could be setting up NIO for its "next leg up." Translation? The stock might be gearing up for another run higher, especially now that it's trading above both its 50-day EMA at $4.14 and 200-day EMA at $4.26.

Critical NIO Price Levels Every Trader Should Watch
Here's where things get interesting from a technical standpoint. The Fibonacci levels are painting a pretty clear picture of where NIO might head next.
On the support side, bulls are defending the $4.51 level (0.382 Fib) and $4.28 (0.5 Fib) like their portfolios depend on it – which they probably do. If bears manage to crack those levels, the next stop could be $3.29 (0.786 Fib), but that's looking less likely after yesterday's bounce.
The upside targets are where things get spicy. Bulls are eyeing $5.68 (1.618 Fib extension) and $6.23 as their next prizes. These levels align with wave iii and wave v projections, which could mean NIO's got more room to run if momentum keeps building.
With the stock now sitting comfortably above key moving averages and showing this kind of relative strength, it's no wonder some traders are getting bullish on NIO's prospects.