Market Overview: Nervos Network/Tether (CKBUSDT) – November 9, 2025

Summary
• Price action shows a bullish recovery, with a late-day rally reaching $0.003419.
• Volume spiked during the afternoon rebound, confirming buying interest.
• RSI suggests overbought conditions emerged in the final hours.

Nervos Network/Tether (CKBUSDT) opened at $0.003351 (12:00 ET–1), reached a high of $0.003419, and closed at $0.003425 at 12:00 ET. The pair traded between $0.00324 and $0.003419 over the 24-hour period. Total volume was approximately 83,555,215, and notional turnover amounted to roughly $286,750, reflecting increased participation during key price swings.

Structure & Formations

The 15-minute candlestick pattern displayed a strong bullish reversal in the late afternoon and evening hours. A notable bullish engulfing pattern emerged at $0.003375 and confirmed a rebound off a key support level. A doji formed around $0.00333, indicating indecision earlier in the day. Resistance appears to be consolidating at $0.00342, where the price found a temporary ceiling before a final breakout.

Support & Resistance

Key support levels are seen at $0.003305 and $0.003291, where price found buyers twice during the day. Resistance levels are at $0.00342 and $0.003421, where the price stalled before consolidating.

Moving Averages

On the 15-minute chart, the 20-period MA is above the 50-period MA, signaling a bullish bias. On the daily chart, the 50-period MA appears to be catching up with the 100-period and 200-period MAs, suggesting a potential consolidation phase.

MACD & RSI

The MACD line crossed above the signal line in the early evening, forming a bullish golden cross and aligning with a sharp price rally. RSI climbed above 70 in the final hours of trading, indicating overbought conditions and a potential pullback risk.

Bollinger Bands

Volatility increased in the late afternoon as the bands widened. Price remained near the upper band for the last three hours, signaling strong bullish momentum and a potential reversion to the mean.

Volume & Turnover

Volume surged during the afternoon and evening rally, with the largest 15-minute volume spike reaching ~10.6 million. Notional turnover also rose during this period, confirming price strength. A divergence was observed during the morning dip, where volume declined despite a moderate price drop, suggesting a bearish false signal.

Fibonacci Retracements

Fibonacci levels for the day’s swing low ($0.003291) and high ($0.003419) show that price held above the 61.8% retracement level at $0.003358 before bouncing. The final close near $0.003425 exceeded this level, suggesting a strong continuation of the upward trend.

Backtest Hypothesis

Given the availability of 15-minute OHLCV data and observed MACD and RSI behavior, a viable backtest strategy could involve using a MACD golden cross (MACD line crossing above the signal line) in combination with RSI > 70 as an entry trigger for long positions. A 3-day holding period could then be evaluated to assess profitability and risk-adjusted returns. While we currently lack the RSI and MACD data series to automate the backtest, this approach aligns with today’s observed momentum and overbought conditions. If the signal dates are provided, a detailed backtest could be completed swiftly.

Looking ahead, CKBUSDT appears to be in a short-term bullish phase with key resistance just above $0.00342. However, a pullback is likely due to the overbought RSI and recent consolidation. Investors should watch for a break of the upper Bollinger Band or a rejection at $0.003425 for directional clarity, but be mindful of potential mean reversion if the rally is overextended.