CKBUSDT Breaks Key Resistance with Surging Volume and Fading Momentum

Summary
• Price fell from $0.001650 to $0.001576 on a bearish breakdown from 24-hour resistance.
• Volume spiked to 14.6 million at 13:45 ET, confirming a sharp downward reversal.
• RSI hit oversold territory near 28, suggesting potential short-term bounce.
• Bollinger Bands widened in the final 6 hours, signaling rising volatility.
• A key support level appears forming near $0.001580–$0.001585.

Nervos Network/Tether (CKBUSDT) opened at $0.001645 on 2026-02-10 12:00 ET and closed at $0.001576 on 2026-02-11 12:00 ET, with a high of $0.001659 and a low of $0.001571. Total 24-hour volume reached 62.3 million, and notional turnover amounted to $99,096.

Structure & Formations

Price initially tested key resistance at $0.001650 but failed to hold, breaking down after a large bearish candle at 14:15 ET. A long-legged doji at $0.001605 marked a pause in the decline, but a series of engulfing bearish patterns followed, confirming weak momentum. Key support levels are forming in the $0.001580–$0.001585 range, with a potential rebound likely if buyers emerge there.

Moving Averages

On the 5-minute chart, price broke below both the 20- and 50-period EMAs by late morning, reinforcing the bearish bias. Daily 50- and 200-period EMAs remain crossed in a bearish configuration, with no immediate sign of reversal.

Momentum & Volatility

MACD turned negative and expanded during the sell-off, with the zero line as resistance. RSI dropped to oversold territory near 28, suggesting a potential bounce unless selling pressure persists. Bollinger Bands expanded significantly in the final 6 hours of the 24-hour window, indicating rising volatility and possible consolidation ahead.

Volume & Turnover

Volume surged to 14.6 million at 13:45 ET on a sharp bearish reversal, confirming bearish conviction. Notional turnover spiked during the breakdown but has since subsided, suggesting fading momentum. Divergences between price and volume in the last few hours hint at exhaustion, though short-term volatility remains high.

Fibonacci Retracements

On the 5-minute chart, price retested the 61.8% retracement of the $0.001571–$0.001650 move near $0.001600, but failed to hold. Daily Fibonacci levels show the 61.8% retracement at $0.001588, which may serve as a near-term pivot for a test of $0.001610 if buyers return.

Price appears to be consolidating near the $0.001576–$0.001580 range ahead of the next 24-hour window. A break below $0.001575 may extend the downtrend toward $0.001550, while a rebound above $0.001605 could indicate short-covering. Traders should be cautious of the risk of a breakdown below key support levels.