Market Overview: Shentu/Tether (CTKUSDT) on 2025-11-01

• Shentu/Tether (CTKUSDT) traded in a 24-hour range of 0.2833–0.3048, closing near a key Fibonacci support level.
• A notable volume spike at 03:45 ET coincided with a sharp bearish reversal from 0.2958 to 0.2895.
• RSI remains in neutral territory, with MACD showing bearish divergence from earlier bullish momentum.
• Key support at 0.2895 appears to be holding, while resistance at 0.3016 is under immediate pressure.
• Volatility has expanded over the last 12 hours, suggesting possible accumulation or distribution activity.

Market Summary and Key Levels

Shentu/Tether (CTKUSDT) opened at 0.3006 on 2025-11-01, traded between 0.2833 and 0.3048, and closed at 0.3006 at 12:00 ET. Total volume over the 24-hour period was 943,697.5, with a notional turnover of $284,105. The price action displayed a mixed narrative, with a late-night sell-off followed by a modest recovery. Key support levels at 0.2895 and 0.2950 are currently under test, while resistance is clustered around 0.3016 and 0.3033.

Structure and Momentum Indicators

The 15-minute chart reveals a bearish structure, especially after the large-volume candle at 22:00 ET, which closed at 0.2895 after a high of 0.2958—forming a classic bearish reversal pattern. RSI is currently at 51, suggesting the price is neither overbought nor oversold, while MACD is showing a bearish divergence, with the line dipping below the signal line. This indicates that while the price appears to be stabilizing, momentum remains weak.

Volatility and Volume Dynamics

Volatility has expanded significantly, particularly between 22:00 and 04:00 ET, with Bollinger Bands widening to accommodate the sharp decline from 0.2958 to 0.2895. Volume during this period was anomalous, with the 22:00 candle alone representing nearly 44% of the total 24-hour volume. This suggests a potential shift in market sentiment, with short-term sellers stepping in forcefully. However, volume has since returned to a more normalized level, indicating a lack of conviction in either direction.

Fibonacci Retracements and Entry Clues

Applying Fibonacci retracements to the recent swing from 0.2833 to 0.3048 reveals key levels at 0.2958 (38.2%), 0.2995 (50%), and 0.3016 (61.8%). The price has stalled at the 61.8% level for the past 12 hours, suggesting a potential consolidation phase. This is a critical juncture, and a break below 0.2995 could re-ignite bearish momentum. Conversely, a breakout above 0.3016 could trigger a rally toward 0.3033.

Backtest Hypothesis

A potential backtest could evaluate a short-term bearish strategy using the 15-minute chart to detect bearish engulfing patterns. Entry would be triggered at the open of the next candle after confirmation of the pattern, with a stop-loss placed above the high of the engulfing candle and a take-profit at the 61.8% Fibonacci level. Given the current setup, a bearish signal was confirmed at 03:45 ET, aligning with the large-volume sell-off. Testing this approach from 2022 through present could offer insights into its robustness in volatile conditions.