Market Overview for Nervos Network/Tether (CKBUSDT)

Summary
• Price tested a key resistance near $0.002740–0.002750, failing to break above after forming a bullish divergence in RSI.
• Volatility expanded during the overnight session, with volume surging by 70% in the 04:00–05:00 ET window.
• A bearish engulfing pattern emerged around 02:15–02:30 ET, signaling caution as price approached the 0.002750 level.
• Bollinger Bands widened to a 2.5 SD range by 06:00 ET, suggesting a potential consolidation phase ahead.

Nervos Network/Tether (CKBUSDT) opened at $0.002632 at 12:00 ET − 1, reached a high of $0.002834, a low of $0.002621, and closed at $0.002749 as of 12:00 ET. Total volume over 24 hours was 196,895,127, with a turnover of $543,238.

Structure & Formations

Price action showed a failed breakout above $0.002750, with a bearish engulfing pattern forming near this level and a doji at $0.002740 suggesting indecision. A key support zone appears at $0.002660–0.002670, where price found temporary refuge during multiple pullbacks.

Moving Averages

On the 5-minute chart, price briefly crossed above the 20-period SMA around 05:00–07:00 ET but failed to maintain this momentum. The 50-period SMA acts as a dynamic support near $0.002700, with price dipping below it multiple times during the session.

MACD & RSI

RSI showed a bullish divergence near $0.002730–0.002740, with price declining but RSI holding above 30. MACD remained in positive territory for most of the session, though the histogram began to contract after 09:00 ET, suggesting weakening momentum.

Bollinger Bands

Volatility expanded significantly overnight, pushing price to the outer band by 06:00 ET. A contraction phase followed between 09:00–10:00 ET, indicating potential for a breakout or continuation pattern in the coming session.

Volume & Turnover

Trading activity surged between 04:00–06:00 ET, with volume increasing by 70% compared to earlier in the session. Turnover rose in tandem, confirming the strength of the price move above $0.002750. A divergence appears between volume and price during the 09:00–11:00 ET window, suggesting a possible topping process.

Fibonacci Retracements

A 61.8% retracement level at $0.002735–0.002745 appeared to act as resistance during the session, with price consolidating just above this area. On a daily chart, the 38.2% retracement level at $0.002680 provided support during key pullbacks.

Price may test $0.002750–0.002760 in the next 24 hours, with a failure to break above this level likely to trigger a pullback toward the $0.002680–0.002700 support range. Traders should remain cautious of divergence in RSI and potential exhaustion in volume.