Market Overview for Nervos Network/Tether (CKBUSDT)

Summary
• Price surged from $0.002518 to $0.002805 amid rising volume, forming a bullish engulfing pattern.
• RSI climbed toward overbought territory while Bollinger Bands widened, indicating growing volatility.
• Turnover spiked to $388,824 with a sharp break above prior resistance at $0.002664.

Nervos Network/Tether (CKBUSDT) opened at $0.002518 on 2026-01-02 12:00 ET, surged to a high of $0.002805, and closed at $0.002678 on 2026-01-03 12:00 ET. The pair recorded a 24-hour volume of 178,225,019 and a notional turnover of $484,664.

Structure & Candlestick Formations

The price surged from $0.002518 to $0.002805 on a bullish engulfing pattern at 2026-01-02 20:15 ET, followed by consolidation above key resistance at $0.002664. A doji formed near the high on 2026-01-03 01:45 ET, suggesting short-term indecision.

Moving Averages

On the 5-minute chart, the 20-period MA crossed above the 50-period MA early on 2026-01-02 20:15 ET, confirming a short-term bullish bias. Daily MAs suggest further upward momentum with no immediate bearish divergence.

Momentum & Volatility

RSI rose toward overbought levels (75–80) during the peak rally, indicating strong upward momentum. Bollinger Bands expanded sharply as volatility increased, with the price settling above the upper band at the close.

Volume & Turnover

Volume surged to 143,683,611 on the bullish breakout, with turnover spiking to $388,824 during the same period. Price and volume aligned, confirming the strength of the move.

Fibonacci Retracements

The rally from $0.002518 to $0.002805 shows a strong 61.8% retrace back to $0.002685–$0.002715, a potential support cluster. A 78.6% retrace could target $0.002735, aligning with recent consolidation.

Looking ahead, CKBUSDT may test key resistance at $0.002740 and face pullback pressure if RSI fails to sustain above 70. Investors should watch for a potential correction or consolidation phase, particularly if volume declines.