Market Overview for Nervos Network/Tether (CKBUSDT)

Summary
• Price tested key resistance near 0.00245, with bearish divergence in volume.
• Volatility expanded midday as price broke below 0.002435 support.
• MACD signaled weakening momentum, while RSI approached oversold territory.
• Bollinger Bands contracted early morning, preceding sharp intraday move.
• Notable bullish engulfing pattern formed near 0.002430 late afternoon.

Nervos Network/Tether (CKBUSDT) opened at 0.002364 on 2025-12-19 12:00 ET, reached a high of 0.002457, a low of 0.002331, and closed at 0.002430 on 2025-12-20 12:00 ET. Total volume amounted to 329,181,536.0 units, with a notional turnover of $763,882. Price consolidation appears to be forming near 0.002430 as key Fibonacci levels converge with recent support.

Structure & Formations

Key support levels were observed at 0.002430 and 0.002420, with the latter offering potential short-term resilience. A bullish engulfing pattern emerged late afternoon, hinting at a potential reversal. The 0.002455–0.002461 range acted as a critical resistance cluster, with failed attempts to break through suggesting possible near-term pressure from bears.

Moving Averages

On the 5-minute chart, the 20SMA crossed below the 50SMA in the late morning, forming a bearish signal. Daily chart indicators showed the 50DMA above 0.002440, reinforcing short-term bearish bias. Price remained below the 200DMA, suggesting a continued medium-term downtrend remains intact.

Momentum and Volatility

MACD lines crossed into negative territory midday, reflecting weakening upward momentum. RSI bottomed near 30 late in the session, indicating potential oversold conditions. Bollinger Bands showed a notable contraction early morning, followed by a sharp price expansion through the upper band in the afternoon, suggesting heightened volatility.

Volume and Turnover

Volume spiked during the 19:15–19:30 ET time frame as price surged toward 0.00248, but failed to confirm the breakout. A divergence between price and volume was observed as price declined after 20:15 ET with diminishing volume. Turnover aligned with the largest volume spikes, reinforcing the significance of key support and resistance areas.

Looking ahead, a retest of 0.002430 is likely before the next directional move. A break above 0.002455 could trigger a short-term rally, but a sustained move below 0.002420 may open the door for further bearish continuation. Investors should watch for confirmation from volume and momentum indicators before taking positions.