Market Overview for Shentu/Tether (CTKUSDT): 24-Hour Technical Summary

• Price rose from 0.3428 to 0.368 before reversing lower toward 0.3608, with a daily high of 0.3749.
• A sharp bullish move midday was met with immediate bearish rejections, indicating key resistance at 0.365–0.37.
• High volume and turnover surged during the rally, showing strong participation, but failed to sustain above 0.3702.
• RSI and MACD signaled overbought conditions during the rally, suggesting momentum exhaustion.
• Price action is consolidating within tight Bollinger Bands, indicating lower volatility and potential directionality ahead.

Shentu/Tether (CTKUSDT) opened at 0.3428 on 2025-09-19 at 12:00 ET and closed at 0.3608 on 2025-09-20 at 12:00 ET, reaching a high of 0.3749 and a low of 0.3417. The total volume over the 24-hour period was 3,609,222.6 and total turnover was 1,269.82.

The structure of the candlestick data reveals a key resistance cluster between 0.365 and 0.37, where multiple 15-minute candles reversed lower after bullish attempts. A bullish engulfing pattern formed around 03:15 ET as price surged to 0.364, only to be met with bearish follow-through. A doji occurred near 0.365 on the 05:15 ET candle, signaling indecision. A bearish harami emerged at 05:45 ET, confirming a reversal.

The 15-minute 20-period moving average (SMA 20) has been bullish but has started to lag behind the price, while the 50-period moving average (SMA 50) has begun to flatten. On the daily timeframe, the 50, 100, and 200-day moving averages remain uncharted due to limited data, but the recent trend remains above the 50-day line, suggesting short-term bullish momentum.

MACD on the 15-minute chart shows a peak and divergence at the top of the rally around 04:00 ET, while RSI reached 85, confirming overbought conditions. A sharp drop in RSI to 45 in the following 45 minutes aligns with a significant price drop, suggesting momentum exhaustion. Bollinger Bands have contracted in the final hour, indicating lower volatility and a potential breakout or breakdown scenario.

The volume spiked at key price levels—particularly at the 0.365–0.37 range—suggesting strong selling pressure after the bullish move. Turnover also surged during the morning rally but diverged from price after 05:00 ET, hinting at profit-taking or distribution. The Fibonacci 61.8% retracement level at 0.3637 acted as a temporary floor before a rebound to 0.365, but failed to hold.

The Backtest Hypothesis would involve entering long positions near the Fibonacci 38.2% level at 0.362 with a stop loss below 0.3592 and taking profit at 0.365–0.37, using a RSI divergence signal as confirmation. A short entry could be triggered on a close below 0.362, targeting 0.3586–0.355, with a stop above 0.365. This strategy relies on Bollinger Band contractions, RSI divergence, and volume confirmation to manage risk and maximize directional bias.