Market Overview for Shentu/Tether (CTKUSDT) on 2025-09-18

• Price surged from $0.3259 to $0.3460, forming a bullish trend with strong momentum and high volume.
• RSI rose above 60, signaling potential overbought conditions, while MACD remained positive with growing momentum.
• Volatility expanded with Bollinger Bands, and price closed near the upper band, reflecting a strong 24-hour rally.
• Volume and turnover spiked in the late session, confirming the bullish breakout above key resistance levels.
• A bullish engulfing pattern emerged around 19:30 ET, suggesting a potential continuation of the upward trend.

The 24-hour period for Shentu/Tether (CTKUSDT) saw a robust price action, with the pair opening at $0.3259 (12:00 ET − 1) and reaching a high of $0.3460. It closed at $0.3460 (12:00 ET) with a low of $0.3259. Total volume amounted to 1,741,572.3 and total turnover reached $594,913.7, highlighting increased participation in the bullish move.

The price formed a strong upward bias, breaking through key resistance levels between $0.3314 and $0.3400. A notable bullish engulfing pattern appeared at $0.3320, indicating a shift in sentiment to the bullish side. The 20-period and 50-period moving averages on the 15-minute chart were closely aligned and rising, supporting the positive trend. A clear support zone may be forming around $0.3250–$0.3270, which, if retested, could offer a potential entry point for buyers.

The RSI reached 63.2 during the session, suggesting short-term overbought conditions, while the MACD remained in positive territory with a rising histogram, pointing to increasing bullish momentum. Bollinger Bands were in an expansion phase, with the price staying near the upper band, indicating a continuation of the current trend. Volatility remained high, especially from 19:00 ET onward, as large candlesticks confirmed the strength of the move. Volume surged in the late hours, particularly between 09:00 ET and 10:00 ET, coinciding with the final leg of the rally, reinforcing the price action.

The Fibonacci retracement levels based on the 15-minute swing from $0.3250 to $0.3460 show key levels at $0.3358 (38.2%) and $0.3310 (61.8%). The price held above the 61.8% level for most of the session, suggesting strong conviction in the bullish trend. On the daily chart, the 50-period and 200-period moving averages are converging, and the price is currently above both, offering a supportive backdrop for near-term bullish continuation.

Backtest Hypothesis

A potential backtesting strategy involves entering a long position on a confirmed bullish engulfing pattern, supported by a close above the 50-period moving average on the 15-minute chart. A stop-loss could be placed below the nearest Fibonacci retracement level, such as $0.3310, while the initial take-profit target could align with the upper Bollinger Band or the next Fibonacci extension level. This setup, when combined with rising volume and a bullish MACD crossover, could offer a favorable risk-reward profile for a short-term trade. The current price environment supports testing this hypothesis for similar patterns in future sessions.