Market Overview for Nervos Network/Tether (CKBUSDT) on 2025-12-23

Summary
• Price dipped to a 24-hour low near 0.002361 before rebounding, forming potential bullish reversal patterns in the latter half of the session.
• Volatility expanded sharply mid-day, with volume surging over 9 million during the 13:45–14:00 ET window, suggesting increased market participation.
• RSI remains in neutral territory, but the MACD crossed to a negative divergence, signaling a possible short-term correction ahead.
• Bollinger Bands showed a contraction before the late-session bounce, hinting at potential for a breakout or reversal.
• Fibonacci retracement levels suggest 0.002386 as a key short-term resistance with 0.002353 as immediate support.

Nervos Network/Tether (CKBUSDT) opened at 0.00241 on 2025-12-22 at 12:00 ET, hit a high of 0.002416, a low of 0.002333, and closed at 0.002389 on 2025-12-23 at 12:00 ET. Total volume amounted to 83,349,410.0 units, with turnover of approximately $200,704.

Structure & Formations

The 24-hour chart shows a bearish start followed by a mid-day pullback and a strong late-day rebound. A bullish engulfing pattern appears around 0.002365–0.002374, suggesting a potential short-term reversal. Key support is at 0.002353 (61.8% Fibonacci), with resistance at 0.002386 (38.2% Fibonacci).

Moving Averages

On the 5-minute chart, price has been below both the 20 and 50-period moving averages for most of the day, though it closed above the 50 MA. Daily chart averages suggest a longer-term bearish bias, with the 50-period MA still above the 200-period MA.

Momentum Indicators

RSI remains in the mid-range (around 50) but has not shown signs of overbought or oversold conditions. The MACD turned negative in the final hours, indicating weakening bullish momentum and a possible pullback.

Volatility and Bollinger Bands

Volatility showed a pronounced expansion in the mid to late session, coinciding with the price rebound. Bollinger Bands were at their narrowest near 13:45 ET, followed by a breakout to the upside. Price has closed near the upper band, suggesting increased bullish pressure.

Volume and Turnover

Volume spiked significantly during the 13:45–14:00 ET window, with nearly 4.7 million units traded, and turnover increased by approximately 60% compared to earlier in the day. This suggests heightened interest as price moved lower, possibly driven by institutional buyers.

Forward-Looking View

The late-day rebound and bullish candlestick patterns may suggest a potential short-term recovery, but the bearish divergence in MACD could indicate limited upside. Investors should monitor 0.002353 for support and 0.002386 for resistance over the next 24 hours, with risk of a pullback if these levels fail.