Market Overview for Nervos Network/Tether (CKBUSDT)

Summary
• Price formed key support at $0.002702 and tested resistance near $0.002769.
• A bullish engulfing pattern appeared at 19:45 ET after a brief pullback.
• RSI indicated overbought conditions above 0.002765, followed by bearish divergence.
• Volatility expanded during the late Eastern session, coinciding with a surge in turnover.
• Bollinger Bands tightened ahead of a sharp breakout, suggesting a potential reversal.

Nervos Network/Tether (CKBUSDT) opened at $0.002749 on 2026-01-10 at 12:00 ET, reached a high of $0.002769, a low of $0.00268, and closed at $0.002727 by 12:00 ET on 2026-01-11. Total volume was 34.2M, with a turnover of $9,508.5.

Structure & Formations

Price action revealed a key support level at $0.002702, where a strong bounce occurred following a sharp drop. Resistance was tested multiple times around $0.002769, with the last close rejecting it. A bullish engulfing pattern formed at $0.002764 to $0.002769 at 19:45 ET, suggesting a short-term reversal. However, a bearish divergence in price and RSI appeared after this, signaling caution.

Moving Averages

On the 5-minute chart, the 20-period MA was above the 50-period MA, indicating a mixed short-term bias. The 50/100/200 daily MAs suggest a neutral to bearish bias, with price hovering near the 50-day MA.

MACD & RSI

MACD showed bullish momentum in the late Eastern session, but the histogram contracted after 21:00 ET. RSI peaked near overbought levels, then fell into neutral territory by the morning, hinting at a potential pullback.

Bollinger Bands

Bollinger Bands contracted just before 19:30 ET, followed by a sharp price breakout above the upper band. Price then moved back toward the midline, indicating a possible consolidation phase ahead.

Volume & Turnover

Trading volume surged during the 19:45–20:00 ET and 04:45–05:00 ET periods, with turnover aligning with price increases. A divergence emerged during the early morning hours, where price rose but turnover declined, hinting at weakening bullish conviction.

Fibonacci Retracements

A key swing from $0.00268 to $0.002769 saw a 61.8% retracement at $0.002725, which aligned with the 12:00 ET close. This level may act as support or consolidation in the near term.

Price appears to be in a tight consolidation pattern ahead of a possible breakout. A move above $0.002769 could invite further buying, while a drop below $0.002702 could trigger a deeper correction. Investors should monitor RSI and volume for signs of conviction.