Shentu/Tether Market Overview (CTKUSDT)

• Price rose 0.9% in 24h from 0.319 to 0.3316
• Key resistance at 0.3365 and support near 0.3285
• Volume surged by 250% in final 4h, confirming momentum
• MACD and RSI suggest overbought conditions near 0.334
• Volatility expanded as price broke out of a tight range

Shentu/Tether (CTKUSDT) opened at 0.319 on 2025-09-26 and closed at 0.3316 on 2025-09-27, with a high of 0.3364 and low of 0.3185 over the 24-hour period. Total volume traded amounted to 1.24 million, and notional turnover reached $413,000, with increased activity in the final four hours.

Structure & Formations

Price action showed a bullish breakout from a tight consolidation range during the early hours of 2025-09-27, followed by a rally capped by resistance at 0.3365. A bullish engulfing pattern was formed at 0.330–0.332 in the 15-minute chart, signaling strong buying pressure. A doji at 0.3303 later in the session suggested temporary indecision. Key support levels appear at 0.3285 and 0.3255, with prior breakdowns offering psychological support.

Moving Averages

On the 15-minute chart, the price closed above both the 20 and 50-period moving averages, with the 50-SMA at 0.3301 acting as a dynamic support. For daily trends, the 50-day moving average sits at 0.3310, while the 200-day is at 0.3225. This suggests a bullish bias in both short- and medium-term cycles.

MACD & RSI

MACD lines turned positive during the rally, confirming the strength of the upward move. The RSI reached 68–70 late in the session, indicating overbought conditions. While not extreme, this suggests a potential pause in the near-term trend. A bearish reversal in the RSI could signal a pullback toward key support levels.

Bollinger Bands

Volatility expanded significantly as price broke above the upper band near 0.3364, marking a breakout from a narrow range. Price is currently sitting just below the 1.5 SD upper band, indicating a continuation bias, but could face resistance at the upper limit if buying interest wanes.

Volume & Turnover

Volume surged during the final four hours of the 24-hour window, especially between 06:00 ET and 10:00 ET, coinciding with a sharp rally toward 0.3364. Notional turnover increased in tandem with price, confirming the strength of the move. No significant divergence between price and volume was observed, reinforcing the credibility of the breakout.

Fibonacci Retracements

Applying Fibonacci to the recent swing low (0.3185) and high (0.3364), the 0.334 level corresponds to the 38.2% retracement, acting as a potential support/resistance zone. The 61.8% retracement at 0.3312 aligns closely with the 50-day moving average and could provide a near-term floor.

Backtest Hypothesis

A potential backtesting strategy could target the 15-minute timeframe using a combination of bullish engulfing patterns, RSI above 55, and volume confirmation. A long entry at the close of the engulfing candle with a stop just below the pattern low and a target at 0.334–0.336 may offer favorable risk/reward. Historical performance of such a setup could validate its viability for short-term momentum trading.