Market Overview for Shentu/Tether (CTKUSDT)

Summary
• Price tested key support near 0.2890–0.2900 before rebounding decisively.
• Momentum reversed midday with a strong bullish engulfing pattern.
• Volatility expanded during the AM session, narrowing into consolidation later.
• Turnover surged in the early hours before tapering, hinting at order flow exhaustion.
• RSI signaled oversold conditions, followed by a sharp bounce into overbought territory.

Shentu/Tether (CTKUSDT) opened at 0.2945 on 2026-01-09 12:00 ET, reached a high of 0.3132, a low of 0.2890, and closed at 0.3020 on 2026-01-10 12:00 ET. The 24-hour volume totaled 1,561,278.9, with a notional turnover of 460,902.58.

Structure & Formations

The 24-hour chart displayed a classic V-shaped rebound, with critical support at 0.2890–0.2900 being respected and rebounded from. A bullish engulfing pattern formed around 0.2900–0.2918 in the early AM hours, signaling a shift in momentum. Resistance levels emerged at 0.2960 and 0.3020, with the latter coinciding with a prior high from the AM surge. A large bearish harami formed near 0.3060–0.3065 in the early afternoon, hinting at possible exhaustion in the upward move.

Moving Averages

On the 5-minute chart, the 20-period MA acted as a dynamic support line during the rebound, while the 50-period MA crossed below price in the early morning before flipping to a bullish cross around 06:00 ET. On the daily chart, the 50-period MA crossed above the 100-period MA in the late morning, confirming a short-term bullish bias. The 200-period MA remains a strong long-term resistance at 0.2960–0.2980.

Momentum & Indicators

The RSI hit oversold levels of 27 before bouncing into overbought territory near 78 by the midday peak. This suggests strong short-term buying pressure. The MACD crossed above the signal line in the early morning, confirming a bullish reversal, and remained positive through midday before showing a potential bearish divergence as price peaked.

Volatility & Bollinger Bands

Bollinger Bands expanded dramatically during the early AM rebound, compressing again in the late afternoon. Price spent a significant portion of the session near the upper band, suggesting strong momentum. The recent consolidation in the lower half of the bands indicates potential for a breakout or reversal.

Fibonacci Retracements

Fibonacci levels from the 0.2890 low to the 0.3132 high showed key resistance at the 61.8% level (0.3037), which price tested and partially rejected. The 50% retracement (0.3011) was breached, indicating potential for a test of the 78.6% level (0.3098) in the next 24 hours.

Shentu/Tether (CTKUSDT) appears to have entered a period of consolidation after a sharp rebound from key support. The next 24 hours may see a test of 0.3040–0.3060 as the first key resistance. Investors should remain cautious about potential profit-taking or a reversal if 0.3010 fails to hold as support.