Market Overview: Nervos Network/Tether (CKBUSDT) - 2025-09-22

• Nervos Network/Tether (CKBUSDT) fell 0.45% over 24 hours amid bearish momentum and low volatility.
• Price formed bearish inside bars and failed to break key resistance at 0.005000.
• Volume spiked during early Asian hours but failed to support a reversal.
• RSI approached oversold territory, suggesting potential near-term support.

Nervos Network/Tether (CKBUSDT) opened at 0.005012 at 12:00 ET on 2025-09-21, hit a high of 0.005012, and closed at 0.004456 at 12:00 ET on 2025-09-22. The pair fell 0.45% over 24 hours. Total volume reached 552.9 million, with a notional turnover of approximately $2,462,615. Price action was bearish across most of the day, with limited bullish attempts late in the session.

Structure & Formations
Price action displayed bearish tendencies, including a bearish inside bar on the 15-minute chart at 22:00 ET and a long lower shadow at 09:00 ET, suggesting bearish control. A key support level appears to have formed around 0.004456, while 0.004996 and 0.005000 acted as resistance. A doji at 14:45 ET indicated indecision before a sharp decline in the following 15-minute interval.

Moving Averages
Short-term moving averages (20/50-period) on the 15-minute chart remained bearish, with the 20-period line below the 50-period line. On the daily timeframe, the 50-period SMA appears to be approaching the 0.004700 level, while the 200-period SMA remains above current price levels, suggesting a long-term bearish trend.

MACD & RSI
The MACD remained bearish across the 15-minute chart, with the line below the signal line and negative momentum. RSI approached oversold territory (below 30), indicating potential for a near-term bounce, but failed to show strong reversal signs.

Bollinger Bands
Volatility expanded significantly in the early Asian hours, with price reaching the upper band at 0.005000 before collapsing to near the lower band. Price spent most of the day below the 20-period Bollinger Band, suggesting continued bearish pressure.

Volume & Turnover
Volume spiked during the early Asian session, with over 125 million traded at 06:15 ET, but failed to drive a reversal. Turnover also spiked during the same period, aligning with the price drop. A divergence appeared between volume and price at 05:45 ET, with volume rising but price falling further, signaling potential weakness.

Fibonacci Retracements
Applying Fibonacci to the 15-minute swing from 0.005012 to 0.004456, the 38.2% level sits at 0.004860, and the 61.8% level at 0.004630. Price currently sits near the 61.8% retracement level, suggesting a potential consolidation point or reversal zone.

Backtest Hypothesis
Given the bearish structure and key support levels, a backtesting strategy could focus on a long-biased approach from the 61.8% Fibonacci retracement level (0.004630) with a stop loss below 0.004500 and a take profit at 0.004800. This approach would aim to capitalize on a potential bounce while respecting bearish momentum. A short-biased strategy could also be tested from 0.004800 with a stop above 0.004900, leveraging the strong resistance and bearish RSI.

Over the next 24 hours, CKB/USDT may test the 0.004456 support level or bounce from it, with a risk of a sharp breakdown if bearish volume continues to dominate. Investors should remain cautious and watch for divergence in RSI or a breakout above 0.004800 as potential reversal signals.