Market Overview: Shentu/Tether (CTKUSDT) 24-Hour Analysis (2025-11-10)

Summary
• Price dipped from 0.3065 to 0.2924 amid bearish momentum.
• Volume surged during the 2025-11-10 08:00–10:00 ET window.
• A bullish reversal pattern emerged near 0.2930.

Shentu/Tether (CTKUSDT) opened at 0.3041 on 2025-11-09 12:00 ET and reached a high of 0.3065 before declining to a low of 0.2924, closing at 0.2924 by 12:00 ET on 2025-11-10. The 24-hour total volume amounted to 396,747.4, with notional turnover at $118,990.19. The price action suggests increased bearish pressure, particularly after 2025-11-10 08:00 ET, with a strong pullback observed near 0.2930.

Structure & Formations

The price formed a bearish breakdown from a key resistance at 0.3040-0.3065, leading to a retest of prior support at 0.2980. A bullish harami and potential reversal candle appeared at 0.2930-0.2940 during the 2025-11-10 09:30–10:30 ET window, suggesting a potential short-term bottoming process. Key levels to watch include 0.2920 (support), 0.2960 (intermediate support), and 0.3000 (resistance).

Moving Averages

On the 15-minute chart, the 20-period and 50-period SMAs are bearishly aligned, with price staying below both indicators. The 50-period MA is at ~0.2970, while the 20-period MA is near ~0.2985. On the daily timeframe, the 50- and 200-period SMAs indicate a longer-term bearish trend, with price continuing to trade below both.

MACD & RSI

MACD lines are negative and trending downward, with the histogram narrowing slightly in the 0.2930–0.2940 range, suggesting a possible momentum pause. RSI has entered oversold territory (~28) following the recent decline, hinting at a potential bounce. However, the RSI remains below 40, indicating sustained bearish momentum.

Bollinger Bands

Price has traded near the lower Bollinger Band for most of the last 12 hours, signaling high volatility and bearish pressure. A contraction in the band width was noted around 0.2970–0.2980 before an expansion occurred following the 0.2924 low.

Volume & Turnover

Volume spiked dramatically between 08:00 and 10:00 ET (2025-11-10), with the 08:00–09:00 ET hour contributing 34837.4 in volume and 10,369.16 in turnover. The price drop during this period was confirmed by volume, indicating genuine bearish conviction. Price and turnover moved in alignment during this phase.

Fibonacci Retracements

On the 15-minute chart, the 0.2924 low has reached the 61.8% Fibonacci retracement level of the recent 0.2924–0.3065 move. A retest of the 50% level (~0.2990) could occur if bulls regain control. On the daily chart, the price is near the 61.8% retracement of the 0.3065–0.2924 range, suggesting a possible consolidation phase or countertrend bounce.

Backtest Hypothesis

Given the RSI's recent oversold condition and the emergence of potential reversal patterns near 0.2930, a backtest of a short-term, RSI-oversold entry strategy could offer valuable insights. The idea is to enter long at a close below RSI-28 and hold for 24 hours, using the 0.2924 low as a stop-loss reference. This hypothesis aligns with the observed volume confirmation and Fibonacci confluence at 0.2930, suggesting a high-probability setup for a short-term rebound.