NIO Climbs 15% as Weekly Chart Shows Base Taking Shape Around $5.30

NIO stock has jumped roughly 15% while forming what traders see as a potential base on the weekly chart near the mid-$5 range.

⬤ NIO shares (ticker: $NIO) have pushed up about 15% recently, with the weekly chart showing price action stabilizing after an earlier slide. The stock is consolidating around the $5.30-$5.50 zone, which has traders watching to see if this can turn into a solid base. Right now, $NIO is holding near these levels and starting to show some structure after the recent bounce.

⬤ Looking at the weekly chart, you can see NIO trading in that mid-$5 range with recent candles turning upward after the previous downtrend. The 15% move higher represents a decent recovery from recent lows, and it's got people paying attention to whether the stock can actually build support here or if it's just a temporary pause before more weakness.

⬤ What matters here is whether this consolidation around $5.30 can actually hold and turn into something meaningful. If NIO manages to keep stabilizing at these levels, it could shift how traders view the stock's next move. For now, all eyes are on whether $NIO can maintain this base structure or if the recent 15% pop just fades away as the consolidation continues.

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Usman Salis E-mail

Usman has been in the blockchain space for 9 years and written dozens of articles about crypto in his career. He wants to put crypto on the global map.