Here is the beginning of a standard proof that the Nested Set Theorem implies the Axiom of Completeness (e.g. see here and here):
Suppose $E$ is a non-empty set bounded above by $b$ and let $a$ be an element of $E$. Define the following sequence of sets: \begin{gather*} [a_1, b_1] = [a,b] \\[8pt] [a_{n+1}, b_{n+1}] = \begin{cases} \left[a_n, \dfrac{a_n + b_n}{2}\right] & \text{if $\, \dfrac{a_n + b_n}{2}\, $ is an upper bound of $E$} \\[8pt] \left[\dfrac{a_n + b_n}{2}, b_n\right]& \text{otherwise} \end{cases} \end{gather*} Then $[a_1, b_1]$ is bounded and $\{[a_n, b_n]\}_{n=1}^\infty$ is a descending countable collection of nonempty closed sets of real numbers, so the Nested Set Theorem implies that the intersection $\bigcap_{n=1}^\infty [a_n,b_n]$ is non-empty. Let $x$ be an element of this intersection.
Correct me if I'm wrong, but to show that $x$ is the least upper bound of $E$ you need to know that $b_n \to x$ and $a_n \to x$. Is it possible to know this without invoking the Archemedean property of the reals?