Nervos Network/Tether Market Overview

Summary
• CKBUSDT opened at 0.003409, hit a high of 0.00349, a low of 0.003308, and closed at 0.003433.
• Total 24-hour volume was 101,891,049.0 units; turnover was 349.99 USDT.
• A bullish reversal pattern emerged mid-day, but late selling pressure dragged price lower.

Nervos Network/Tether (CKBUSDT) opened at 0.003409 on 2025-11-09 at 12:00 ET and closed at 0.003433 the following day. The pair reached a high of 0.00349 and a low of 0.003308 during the 24-hour period. Total volume was 101,891,049.0, with notional turnover at 349.99 USDT.

Structure & Formations

CKBUSDT formed a distinct bullish reversal pattern on the 15-minute chart around 07:45–09:00 ET, with a series of higher lows and a 0.00342–0.00345 consolidation. However, bearish pressure reemerged after 13:00 ET, forming a broad distribution pattern and testing key support at 0.00334–0.00338. A bearish engulfing pattern appeared at 15:00 ET, confirming a shift in sentiment.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed to the upside briefly between 08:00–09:00 ET, signaling short-term bullish momentum. However, by 14:00 ET, the 50-period line crossed below the 20-period line, reinforcing bearish sentiment. On the daily chart, the 50-period MA sits above the 100-period MA, suggesting a slightly bullish bias over the medium-term, but the 200-period MA remains bearish.

MACD & RSI

The MACD line and signal line crossed positively in the early morning, confirming a short-lived bullish trend. RSI reached overbought levels at 0.00349 (~75), then dipped below 50 by 12:00 ET and into oversold territory (32) at 15:00 ET. This divergence between MACD and RSI suggests indecisive price action, with RSI failing to confirm a strong rebound.

Bollinger Bands

Price briefly touched the upper Bollinger Band at 0.00349, indicating overbought conditions, before retreating sharply into the lower band by 15:00 ET. The 20-period volatility band narrowed around 09:00 ET, suggesting a potential breakout or breakdown, which materialized with a sharp decline afterward. Price remained inside the bands for much of the day, indicating moderate volatility.

Volume & Turnover

Volume spiked during the 07:45–09:00 ET period, coinciding with the bullish consolidation phase and reaching a 24-hour high of 16.5 million units. However, turnover failed to confirm this strength, suggesting potential distribution. After 13:00 ET, a second volume spike occurred during the breakdown phase, but price did not retest the highs, indicating bearish conviction.

Fibonacci Retracements

Applying Fibonacci levels to the recent 15-minute swing (0.00336–0.00349), key retracement levels at 0.00342 and 0.00341 were tested but rejected, confirming bearish control. On the daily chart, the 61.8% retracement level at 0.00343 is currently acting as a short-term support. A break below 0.00338 would trigger a test of the 50% level at 0.003375.

Backtest Hypothesis

The RSI-oversold strategy could be applied to CKBUSDT using an RSI < 30 threshold, with trades entered at the next 15-minute open following the signal and held for one full 15-minute candle before exiting. Given CKBUSDT’s recent volatility and multiple dips into oversold territory, this strategy could be viable in capturing potential rebounds. However, due to the low liquidity and large price swings, it is advisable to size positions carefully and use stop-loss orders to mitigate downside risk.