Market Overview for Shentu/Tether (CTKUSDT) – September 23, 2025

• Shentu/Tether (CTKUSDT) declined from 0.3518 to 0.3541, with volatility rising as prices moved between key support and resistance levels.
• Momentum was mixed, with RSI indicating potential overbought conditions at the close, suggesting a potential pullback.
• Bollinger Bands showed a recent expansion, with price closing near the upper band, highlighting a possible short-term reversal.
• Volume spiked during the overnight session, confirming bearish pressure before a morning rebound.
• A bullish engulfing pattern emerged near 0.3487, followed by a bearish divergence in turnover, hinting at potential indecision in the near-term trend.

Price and Volume Summary

Shentu/Tether (CTKUSDT) opened at 0.3509 on September 22 at 12:00 ET and closed at 0.3541 at 12:00 ET the following day. The pair hit a 24-hour high of 0.3518 and a low of 0.3443. Total volume over the 24-hour period was 2,043,468.3 with a notional turnover of approximately $718,245. The pair appears to be navigating a tight range with intermittent spikes in volatility and volume.

Structure & Formations

Key support levels appear to form around 0.3443–0.3460 and 0.3472–0.3487, with the former showing a strong rejection of bearish pressure in the early hours. Resistance levels emerged around 0.3496–0.3501 and 0.3514–0.3526, with the upper zone failing to hold during the overnight session. A notable bullish engulfing pattern formed at 0.3487, followed by a bearish divergence in price and volume. A long-legged doji appeared near 0.3501, indicating indecision.

Moving Averages and MACD/RSI

On the 15-minute chart, the 20-period and 50-period moving averages crossed during the early morning hours, signaling a potential reversal in the short-term trend. The MACD line crossed above the signal line around 06:00 ET, confirming a brief bullish momentum before a pullback. RSI reached overbought territory near 0.3526 during the morning rebound, suggesting a potential short-term pullback.

Bollinger Bands and Volatility

Bollinger Bands showed a notable contraction during the overnight hours, followed by a sharp expansion coinciding with the 0.3526–0.3543 price range. Price closed near the upper band, indicating elevated volatility and a potential short-term reversal. The 15-minute chart shows a tightening of bands in the early hours, followed by a breakout, suggesting increased momentum in the morning.

Volume & Turnover Analysis

Volume spiked sharply during the overnight session as price dropped below 0.3487, with a turnover increase of nearly 10x above the average. This suggests strong bearish conviction at that level. However, the morning rebound occurred on relatively lower volume, suggesting the bearish pressure may be fading. A divergence between price and turnover during the 04:00–06:00 ET period suggests mixed sentiment among traders.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent swing from 0.3443 to 0.3518, the 38.2% level at 0.3478 and 61.8% at 0.3496 appear to have acted as short-term support and resistance, respectively. The 0.3518 high is a key near-term resistance level, with the 0.3472 low likely to see renewed testing in the coming 24 hours.

Backtest Hypothesis

The backtesting strategy described leverages a combination of RSI and volume-based triggers to identify overbought or oversold conditions. The approach would have entered a long position when RSI dropped below 30 on the 15-minute chart and volume increased by at least 30% compared to the previous bar, with an exit when RSI crossed above 70. Conversely, a short signal would trigger when RSI rose above 70 and volume spiked by 30% or more. Based on the 24-hour dataset, this strategy would have captured the morning rebound but missed the overnight sell-off due to limited volume confirmation.