Market Overview for Nervos Network/Tether (CKBUSDT)

Summary
• Price rallied above key resistance at $0.00271–0.00273 with bullish momentum confirmed by higher highs and volume.
• RSI suggests overbought conditions at 70+ in late hours, while MACD remains positive with narrowing divergence.
• Volatility expanded in early ET hours, with Bollinger Bands widening as price surged near the upper band.
• Notable 5-minute bullish engulfing patterns occurred at 19:15 ET and 04:30 ET, signaling potential trend continuation.
• Fibonacci 61.8% level at $0.002745 appears to act as dynamic support, followed by 0.002724 (38.2%) if pullback occurs.

Nervos Network/Tether (CKBUSDT) opened at $0.002664 (12:00 ET − 1) and closed at $0.002749 (12:00 ET) today, reaching a high of $0.002779 and a low of $0.002664. Total volume traded 59.2 million USD equivalent, with a notional turnover of $179,179.

Structure & Moving Averages

Price broke above a key 5-minute resistance at $0.00271–0.00273, with bullish momentum continuing into the early morning. The 20-period and 50-period moving averages on the 5-minute chart both sloped upward by 06:00 ET, confirming an emerging short-term uptrend. On the daily chart, price remains above the 50-period MA, suggesting medium-term strength.

Momentum and Overbought Conditions

RSI climbed to overbought territory in the late ET hours, peaking at ~75, while MACD remained positive with a slight bearish divergence emerging in the final 5-minute intervals. This suggests short-term profit-taking could pressure price in the next 24 hours, though overall momentum remains constructive.

Volatility and Bollinger Bands

Volatility expanded significantly from 19:15–22:45 ET, with price testing the upper Bollinger Band multiple times. A contraction in volatility followed at 06:00–09:00 ET, coinciding with a consolidation phase. Price has since retested the upper band in the early morning, hinting at a continuation of the rally.

Volume and Turnover Divergence

Volume spiked sharply during the 19:15–22:45 ET rally, with the largest turnover occurring at $0.00272–0.00273. However, volume during the final 2-hour rally from $0.002735–0.002779 was slightly lower, suggesting possible exhaustion in the short term.

Fibonacci Retracements

Key Fibonacci levels from the recent low at $0.002664 to the high at $0.002779 include the 61.8% at $0.002745 and 38.2% at $0.002724. Price held above the 61.8% retracement for much of the day, reinforcing the strength of the bullish move.

Looking ahead, CKBUSDT may test $0.00278–0.0028 as the next resistance zone. A close above this could validate a broader bullish move, but investors should remain cautious of overbought RSI and possible short-term profit-taking.