Summary
• Nervos Network/Tether (CKBUSDT) tested key support and resistance levels during a volatile 24-hour session.
• Momentum indicators signaled overbought conditions during late-day rally, hinting at potential reversal risk.
• Bollinger Bands highlighted periods of low volatility followed by sharp expansion, indicating heightened price swings.
• Turnover surged during midday and early evening, suggesting increased institutional or large-capacity trading activity.
Market Overview
Nervos Network/Tether (CKBUSDT) opened at $0.002645 on 2026-01-12 at 12:00 ET, reached a high of $0.002729, a low of $0.002572, and closed at $0.002724 by 12:00 ET on 2026-01-13. The pair saw a 24-hour volume of 63.17 million CK and a notional turnover of $17,131.73.
Structure & Key Levels
The price action formed a bullish flag pattern within the 5-minute chart, with key support identified around $0.002615 and resistance at $0.002700. A long lower shadow during the early morning ET suggests rejection at lower levels, with a strong reversal candle at 06:00–06:15 ET.
Moving Averages and Momentum
Short-term 20-period and 50-period moving averages on the 5-minute chart diverged, showing a bullish crossover late morning. MACD registered a positive histogram during the late-day push, confirming upward momentum. The RSI crossed into overbought territory (above 70) by mid-afternoon, signaling caution for near-term traders.
Volatility and Bollinger Bands
Bollinger Bands contracted between 01:00 and 04:00 ET, suggesting a period of consolidation before a sharp breakout. Price spent most of the session within the outer band, particularly between $0.002680 and $0.002720. A period of expansion followed the 21:00–22:00 ET bearish divergence, indicating increased volatility.
Volume and Turnover
Volume and turnover spiked sharply between 10:00 and 11:00 ET and again around 16:00 ET, coinciding with strong upward movement and price consolidation. A notable divergence occurred at 05:00 ET, where price rose but volume remained low, suggesting limited conviction in the move.
Fibonacci Retracement Levels
Key Fibonacci retracements were tested during the session, with the 61.8% level at $0.002666 acting as a temporary support. The 38.2% level at $0.002675 was briefly retested but failed to hold, suggesting bearish pressure could return if the price falls below $0.002660.
CKBUSDT may continue to test its recent highs amid strong momentum, but a reversal could emerge if the RSI remains in overbought territory or if volume fails to confirm further gains. Investors should remain cautious of a pullback or consolidation in the next 24 hours.
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