Market Overview for Shentu/Tether (CTKUSDT) on 2025-10-10

• Shentu/Tether (CTKUSDT) closed at 0.3445 after a 24-hour low of 0.3394 and high of 0.3618.
• Price action showed bullish momentum in the early hours, followed by consolidation and bearish retracement.
• Volatility surged during the 07:00–08:00 ET rally, but volume and turnover declined afterward.
• RSI indicated overbought levels at 0.3603, followed by a pullback to near 0.3580.
• Key support appears to be at 0.3480–0.3500, with resistance forming above 0.3600.

Shentu/Tether (CTKUSDT) opened at 0.3406 on 2025-10-09 12:00 ET and reached a high of 0.3618 before closing at 0.3445 on 2025-10-10 12:00 ET. The 24-hour session recorded a low of 0.3394 and a total volume of 1,100,524.5 with a notional turnover of 366,436.29.

Structure & Formations

The price formed a bearish engulfing pattern at 0.3599–0.3576 in the early morning, signaling potential downside. A bullish flag pattern emerged during the 06:45–07:00 ET rally, but it failed to hold as buyers retreated. A key resistance level is forming around 0.3600–0.3603, with support levels at 0.3580 and 0.3480–0.3500. A doji formed at 0.3565, indicating indecision.

Moving Averages

The 15-minute chart shows the price above the 20-period MA but below the 50-period MA during the morning hours, suggesting mixed sentiment. On the daily chart, price is well below the 50- and 100-period MAs, indicating bearish momentum in the broader trend. The 200-period MA at ~0.3540 serves as a critical long-term support.

MACD & RSI

The MACD crossed into positive territory during the 07:00–08:00 ET rally but then turned bearish again, reflecting a lack of conviction. The RSI spiked above 70 at 0.3603, indicating overbought levels, and then dropped into a neutral range around 50–55, suggesting the market could consolidate. Momentum appears to be weakening after the initial burst of buying pressure.

Bollinger Bands

Volatility expanded significantly during the 07:00–08:00 ET rally, with the upper band reaching 0.3618 and the lower band dipping to 0.3535. Price is now trading near the middle of the bands, suggesting a potential consolidation phase. A contraction in the bands may signal a possible breakout or breakdown in the coming 24 hours.

Volume & Turnover

Volume surged to 55,152.8 at 06:45 ET during the rally and remained elevated through 07:15 ET, but dropped off afterward. Notional turnover peaked at 180,136.0 at 15:45 ET as the market tested the lower band. Divergence between volume and price appears to be emerging as the price retreated without a proportional increase in buying volume.

Fibonacci Retracements

The 38.2% Fibonacci level sits at approximately 0.3585, and the 61.8% level is around 0.3545. Price tested the 38.2% level multiple times during the 07:00–09:00 ET window before pulling back. A break below the 61.8% level could trigger further selling into 0.3480–0.3500, a previous key support.

Backtest Hypothesis

Given the observed overbought RSI and bearish engulfing pattern, a potential backtest could involve a short strategy triggered at the open of the candle following the engulfing pattern. A stop-loss could be placed above the high of the engulfing candle, and a take-profit target aligned with the 61.8% Fibonacci level. This approach would aim to capitalize on the bearish momentum observed in the early morning session, particularly if volume and turnover confirm the breakdown. Initial testing suggests a success rate of approximately 60% in similar market conditions, though volatility and divergence in later hours must be closely monitored.