🔍 CKB Analysis – Oversold or Just Getting Started? 🔍

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🧠 Nervos Network’s CKB is feeling the heat as broader market turbulence drags altcoins into deep red territory. With inflation data triggering mass liquidations across crypto, CKB’s sharp drop may be more macro-driven than token-specific.

📈 Technical Analysis

- Short-term trend: Bearish continuation

- Support levels: $0.00505 (24h low), $0.00480 (historical support)

- Resistance levels: $0.00591 (recent high), $0.00620 (next breakout zone)

- Pattern: Descending channel with no clear reversal yet

- Volume trend: High volume suggests panic selling

- Indicators:

- RSI at 35.44 – nearing oversold territory

- MA(5) and MA(10) show declining momentum

- Short-term outlook: Bearish unless RSI rebounds and volume shifts bullish

📰 Market Data & News

- Current price: $0.005121

- 24h change: -11.58%

- Volume: CKB – 690.11M | USDT – 3.80M

- Market-wide crash triggered by hotter-than-expected U.S. PPI data, leading to $538M in long liquidations

🔄 Scenario Breakdown

- Bullish Case: RSI bounce above 40 with volume recovery could push CKB toward $0.0059+

- Bearish Case: Continued selling and RSI drop below 30 may drag price toward $0.0048 or lower

📊 Sentiment Meter

📉 Bearish Bias – Macro-driven sell-off, RSI near oversold

⚠️ Risk Level

🔴 High – Volatile price swings, weak support, unclear trend

Will CKB hold $0.00505 or slide deeper into support zones? Share your view 👇

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📢 Reminder: This is educational content. No guarantees, no advice—just charts, data, and perspective.$CKB