Market Overview for Shentu/Tether (CTKUSDT)

Summary
• Price tested key resistance at 0.2704 and reversed lower in late trading hours.
• Volume spiked during the 0.2704–0.2678 decline, confirming bearish momentum.
• RSI and MACD signaled overbought conditions early, followed by bearish crossover.
• Price remains in a 24-hour range of 0.2670–0.2707, with 0.2693 as initial support.
• Bollinger Bands show contraction near 0.2680, suggesting potential for breakout.

Shentu/Tether (CTKUSDT) opened at 0.2693 on 2026-01-01 at 12:00 ET, reaching a high of 0.2710 and a low of 0.2670 before closing at 0.2696 on 2026-01-02 at 12:00 ET. Total volume amounted to 613,720.0 and turnover reached 164,290.33 in the 24-hour window.

Structure & Formations

Price action on the 5-minute chart reveals a bearish reversal pattern at resistance 0.2704, where a large bearish candle capped a short-term rally. A key support level appears at 0.2693, where buying pressure reemerged after the decline. The 0.2696–0.2704 range appears to be a pivotal cluster for near-term direction, with a potential for a retracement or breakdown.

Technical Indicators

MACD turned bearish after midday, with a bearish crossover confirming the decline from 0.2704. RSI peaked above 65 during the rally, signaling overbought conditions before the sell-off. Bollinger Bands tightened near 0.2680, suggesting a potential breakout or breakout failure if volume diverges.

Volume & Turnover Analysis

Volume surged during the sharp drop from 0.2704 to 0.2678, with a peak of 85,127.8 in one 15-minute bar, confirming the bearish momentum. Turnover increased in tandem, with no signs of divergence between price and volume, reinforcing the strength of the bearish move. The final 15-minute bar at 12:00 ET showed a smaller volume, suggesting a pause or consolidation phase.

Momentum and Fibonacci Retracements

The 5-minute chart shows a 61.8% Fibonacci retracement level at 0.2693, aligning with the key support level. A 38.2% retracement at 0.2699 appears to be a potential resistance zone for a near-term bounce. Momentum has clearly shifted to the downside, but a rebound into overbought territory could trigger renewed short-term interest.

Conclusion

The 24-hour session ended in consolidation near 0.2696, with key levels in play. A breakdown below 0.2693 could target 0.2680 and test the 0.2670 level for potential further support. Investors may watch for a breakout of the Bollinger Band contraction or a retest of 0.2704 for a possible reversal. However, bearish momentum and declining volume suggest caution ahead of the next 24-hour period.