Shentu/Tether (CTKUSDT) 24-Hour Market Overview

• Shentu/Tether (CTKUSDT) closed near session lows with bearish momentum intensifying late in the 24-hour period.
• A key support level at 0.3250 was tested multiple times but failed to hold, triggering a pullback.
• Volatility expanded during the afternoon surge to 0.3299 before reversing sharply in late night trading.
• Volume remained elevated in key reversal clusters but failed to confirm bullish follow-through.
• RSI and MACD signaled overbought conditions earlier in the session, followed by bearish divergences.

Shentu/Tether (CTKUSDT) opened at $0.3234 on 2025-09-15 at 12:00 ET and closed at $0.3305 on 2025-09-16 at 12:00 ET, reaching a high of $0.3317 and a low of $0.3190 during the 24-hour period. Total volume was 2,476,174.3, with notional turnover amounting to $810,520. The asset remains in a consolidating phase, with key technical indicators suggesting potential short-term bearish pressure.

Structure & Formations

The price action on CTKUSDT displayed a key bearish engulfing pattern near the session high of $0.3299, where a large red candle followed an indecisive green candle. This pattern suggested a rejection of bullish momentum and a potential shift to bearish sentiment. A doji formed near the support zone of $0.3250, indicating a temporary equilibrium between buyers and sellers. The 0.3250–0.3260 range appears to be the immediate key support cluster, while the 0.3300–0.3310 range marks a critical psychological resistance level. A failure to break above 0.3310 could result in renewed bearish pressure.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed below the price action after a short-lived bullish divergence, signaling a potential bearish crossover. The 20SMA is currently at 0.3278, while the 50SMA sits at 0.3264, suggesting a bearish bias. For the daily chart, the 50-period SMA is at 0.3282, slightly above the current price, while the 200-period SMA remains at 0.3247, indicating the price is above the long-term trend. This suggests a moderate bullish bias over the longer term, but near-term bearish momentum is strong.

MACD & RSI

The MACD line crossed below the signal line in late evening trading, confirming a bearish divergence from earlier bullish overbought conditions. The RSI dipped below 50 in the final hours of the session, reinforcing the bearish narrative. A reading of 45 on the RSI suggests that the price may be nearing oversold territory, though without a corresponding increase in volume, this could be a false signal. Momentum appears to be weakening, and a retest of the 0.3250 support level could trigger further selling pressure.

Bollinger Bands

Bollinger Bands displayed a notable expansion during the afternoon trading surge, with the price reaching the upper band at 0.3299 before reversing. This expansion suggested increased volatility, though the price quickly moved back into the middle band and began to test the lower band in the final hours of the session. A break below the lower band would confirm a bearish trend, though the current price action remains within the expected range for the pattern.

Volume & Turnover

Volume remained elevated during key reversal points, particularly in the afternoon and early evening, when the price surged to 0.3299 and then reversed sharply. Notional turnover spiked during these periods, confirming the strength of the move. However, volume dropped off during the late-night pullback to 0.3250, suggesting a lack of follow-through from sellers. A divergence between price and volume at this support level raises concerns about the sustainability of the current bearish momentum.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent 15-minute swing from 0.3190 to 0.3299, the 0.3250 level coincides with the 38.2% retracement level, which has been a key support area. A retest of the 61.8% retracement level at 0.3233 would indicate a potential extension of the bearish trend. On the daily chart, the recent move from 0.3247 to 0.3317 sees the 0.3282 level as the 38.2% retracement point, which aligns with the 50-day SMA and could be a potential consolidation zone.

Backtest Hypothesis

A potential backtesting strategy could involve entering a short position when the RSI dips below 50 and the price closes below the 20-period moving average on the 15-minute chart, as seen in the late-night trading session. A stop-loss could be placed just above the 0.3270 level, with a target exit at the 0.3240–0.3230 range. This setup could be tested against the 2025-09-15 to 2025-09-16 data, using volume as a confirmation signal. The 20SMA and 50SMA crossover also serve as a useful trigger for trend-following entries, particularly when supported by bearish candlestick formations. Given the current setup, this approach could be further refined for similar setups in the next 24 hours.