Based on the analysis of the 1-hour chart for CKB/USDT, the price is currently showing signs of bullish momentum. The price is attempting to rise and is approaching the 200-period Moving Average (MA), which is positioned at $0.008857, indicating a potential shift in trend if it can break above this level. The Relative Strength Index (RSI) is at 67.51, suggesting that the asset is nearing overbought territory but still has room for upward movement. The MACD indicator shows a bullish crossover, with the MACD line at 0.000121 above the signal line at 0.000069, and the histogram positive at 0.000051, reinforcing the bullish sentiment.
In a bullish scenario, if CKB/USDT continues to maintain its position above the support level at $0.007500, it could aim for the next resistance zone around $0.010000. Sustained buying pressure and positive market sentiment could push the price higher towards $0.011000 and beyond.
Conversely, in a bearish scenario, if the price fails to hold above the $0.007500 support, it may retest lower support levels around $0.006500. A break below this level could indicate a reversal, leading to further downside towards $0.005500 and possibly lower.
