Nervos Network/Tether (CKBUSDT) Market Overview: 24-Hour Analysis (2025-09-20)

• Price swung between 0.004965 and 0.005115 with a final close near 0.005096.
• Momentum accelerated in the afternoon with a surge in volume and RSI above 60.
• Volatility expanded in late trading, with price near the upper Bollinger Band.
• Volume spiked sharply in the last 6 hours, confirming bullish continuation.
• A bullish engulfing pattern formed after a key support level was tested and rejected.

Nervos Network/Tether (CKBUSDT) opened at 0.005002 on 2025-09-19 at 12:00 ET and closed at 0.005096 by the same time on 2025-09-20. The pair reached a high of 0.005115 and a low of 0.004965 over the past 24 hours. Total volume traded was 131,449,380.0, with a notional turnover of 648,927.00 (amount in USD equivalent).

The 15-minute chart reveals a strong upward bias in the final 6 hours of the 24-hour window, particularly following a bullish engulfing pattern at 0.005028. Key support levels at 0.005002 and 0.004975 held during the morning decline but failed to prevent a strong rebound. Resistance levels were tested and broken at 0.005067 and 0.005094, with the latter seeing a consolidation phase before a final close near 0.005096.

Structure & Formations

Price found temporary support at 0.005002 and 0.004975, both of which were key levels for buyers to test during the early part of the session. A bullish engulfing candle at 0.005028 marked a reversal in sentiment and initiated a 9-hour rally. A doji formed at 0.005067, signaling indecision, before the price continued higher. The final candle at 0.005096 was a strong green candle, confirming the continuation of the upward move.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are both trending upward, with the 20-period MA crossing above the 50-period MA to confirm the bullish momentum. On the daily chart, the 50-period MA is above the 100- and 200-period MAs, suggesting a medium-term bullish bias. Price is above all three daily MAs, reinforcing the upward trend.

MACD & RSI

The MACD line crossed above the signal line in the morning, confirming the beginning of a bullish momentum phase. The histogram has been expanding in the afternoon, with MACD reaching a positive value of +0.000015. RSI, which had fallen to 52 during the morning decline, is now at 62, indicating a strong but not overbought market. RSI has shown a consistent rise over the past 12 hours, supporting the view that buying pressure remains strong.

Bollinger Bands

Volatility expanded sharply during the afternoon, with Bollinger Bands widening and price pushing to the upper band. The price closed near the upper band at 0.005096, indicating strong buying pressure. A contraction in volatility was observed early in the session before the breakout occurred. This suggests a potential continuation of the upward move but with the risk of a pullback if the upper band is rejected.

Volume & Turnover

Volume surged in the final 6 hours of the session, with the highest volume candle occurring at 0.005096. This high-volume candle coincided with a price push above the previous high at 0.005094, suggesting strong conviction from buyers. Notional turnover has increased in tandem with the price move, with no divergence noted between volume and price, further supporting the bullish case.

Fibonacci Retracements

Fibonacci levels show that the 0.005002 support level (38.2%) held during the morning pullback. The 61.8% level at 0.004975 was also rejected, reinforcing the bearish bias at lower levels. On the upside, the price has reached the 161.8% extension level from the 0.004975 to 0.005094 swing, suggesting a potential pause or correction may be due.

Backtest Hypothesis

Given the strong bullish momentum observed in the final 6 hours, a backtest strategy could be built around a breakout system based on the 20-period moving average and Bollinger Bands. A long entry could be triggered when price closes above the 20-period MA and above the upper Bollinger Band, with a stop-loss placed below the most recent swing low. A target could be set using the 61.8% Fibonacci extension of the recent bullish leg. This strategy appears well-aligned with the observed price behavior and may offer a favorable risk-reward ratio in the current environment.