diff --git a/src/Astx.ts b/src/Astx.ts
index e373512..b4957bd 100644
--- a/src/Astx.ts
+++ b/src/Astx.ts
@@ -602,7 +602,10 @@ export default class Astx extends ExtendableProxy implements Iterable<Astx> {
     const { parsePatternToNodes } = backend
     try {
       if (typeof arg0 === 'function') {
-        for (const astx of this) {
+        // Always replace in reverse so that if there are matches inside of
+        // matches, the inner matches get replaced first (since they come
+        // later in the code)
+        for (const astx of [...this].reverse()) {
           const replacement = arg0(astx, parsePatternToNodes)
           replace(
             astx.match,
@@ -614,12 +617,12 @@ export default class Astx extends ExtendableProxy implements Iterable<Astx> {
         }
       } else if (typeof arg0 === 'string') {
         const replacement = parsePatternToNodes(arg0)
-        for (const match of this._matches) {
-          replace(match, replacement, this.context)
+        for (let i = this._matches.length - 1; i >= 0; i--) {
+          replace(this._matches[i], replacement, this.context)
         }
       } else if (isNode(arg0) || isNodeArray(arg0)) {
-        for (const match of this._matches) {
-          replace(match, arg0, this.context)
+        for (let i = this._matches.length - 1; i >= 0; i--) {
+          replace(this._matches[i], arg0, this.context)
         }
       } else {
         const finalPaths = parsePatternToNodes(arg0, ...quasis)
diff --git a/test/astx/bugs_nesting.ts b/test/astx/bugs_nesting.ts
new file mode 100644
index 0000000..a72fb92
--- /dev/null
+++ b/test/astx/bugs_nesting.ts
@@ -0,0 +1,21 @@
+import { TransformOptions } from '../../src'
+import { astxTestcase } from '../astxTestcase'
+import dedent from 'dedent-js'
+
+astxTestcase({
+  file: __filename,
+  input: dedent`
+    const validator = t.ref(() => t.object({
+      a: t.ref(() => Foo)
+    }))
+  `,
+  parsers: ['babel', 'babel/tsx'],
+  astx: ({ astx }: TransformOptions): void => {
+    astx.find`t.ref(() => $x)`().replace`z.lazy(() => $x)`()
+  },
+  expected: dedent`
+    const validator = z.lazy(() => t.object({
+      a: z.lazy(() => Foo)
+    }));
+  `,
+})