Market Overview for Nervos Network/Tether

Summary
• Price formed key resistance near $0.002705–$0.002711 and tested support at $0.002682–$0.002685 on 5-min chart.
• RSI suggested overbought levels above $0.002705, followed by pullback into neutral territory.
• Volume spiked during the final 3 hours, suggesting accumulation or distribution.
• Price appears to be consolidating after a sharp late-session rally, with bullish momentum intact.
• Bollinger Bands showed expansion during the rally, indicating increased volatility.

Nervos Network/Tether (CKBUSDT) opened at $0.002698 on 12:00 ET – 1, hit a high of $0.002803, and closed at $0.002802 at 12:00 ET today. The total traded volume was 131,524,488.0 and turnover was $365,197.8.

Structure & Formations

Price advanced into a key resistance zone around $0.002705–$0.002711, which had previously acted as a ceiling during earlier intraday swings. This resistance was decisively broken after 15:00 ET, with a strong continuation into a new high at $0.002803. A bullish engulfing pattern formed near $0.002751 at 16:00 ET, reinforcing the momentum shift. A potential support zone appears at $0.00274–$0.00275, which may test buyers' strength in the next 24 hours.

Moving Averages

On the 5-minute chart, price closed above both the 20-period and 50-period moving averages, reinforcing the bullish trend. The 20-period MA accelerated upward during the final 3 hours of the 24-hour period, while the 50-period MA lagged slightly, suggesting a possible extension of the rally. On a longer time frame, the 50-period and 200-period daily MAs were not immediately available, but intraday momentum suggests a shift toward a stronger bias to the upside.

**

MACD & RSI

The MACD turned sharply higher in the late session, with a positive crossover and rising histogram, confirming bullish momentum. RSI reached overbought territory at 75+ near the $0.002795–$0.002803 level, indicating a potential pause or consolidation ahead. A pullback to the 50–55 RSI range could signal continuation of the trend, but a breakdown below 40 may trigger profit-taking.

Bollinger Bands

Volatility expanded late in the session as price moved above the upper Bollinger Band, reaching $0.002803. This expansion often precedes a period of consolidation or correction, though the strong volume suggests buyers may control the next few sessions. The mid-Band line currently sits around $0.002775–$0.00278, and a retest of this level could offer a continuation setup.

Volume & Turnover

Volume spiked during the final 3 hours, especially between 16:00 ET and 17:00 ET, when price broke above $0.00279 and closed at $0.002802. This confirms the strength of the bullish breakout. Turnover increased in tandem, aligning with price, which suggests the move is backed by real buying pressure rather than wash trading. A continuation of this volume pattern may indicate further upward progress, while a pullback with shrinking volume could signal a reversal.

Fibonacci Retracements

Recent 5-minute swings show retracement levels at 61.8% ($0.002766) and 78.6% ($0.002801), which were both tested and held during the final hours. On the daily chart, a retracement of the prior downleg suggests key levels at 38.2% ($0.002711) and 61.8% ($0.002685), both of which appear to have been respected and then broken. A retest of these levels may offer clarity on near-term direction.

The market appears to be in a short-term bullish phase driven by strong volume and confirmation from technical indicators. A move above $0.002803 could invite further buying, but a failure to hold above $0.00278 may result in a pullback. Investors should remain cautious of overbought conditions and potential consolidation in the coming hours.