Market Overview: Shentu/Tether (CTKUSDT) – Bullish Momentum and Increasing Volatility

• Shentu/Tether (CTKUSDT) rose from $0.3264 to $0.3576, forming a strong bullish bias with volume surging near the close.
• Price broke out of a consolidation pattern at $0.3450, with RSI suggesting rising momentum and no immediate overbought condition.
• Volatility increased as Bollinger Bands widened, with the price staying above the 20-period MA for most of the session.
• A bullish engulfing pattern emerged near $0.3314–$0.3316, followed by a strong push to new 24-hour highs in the final hours.
• Turnover spiked in the last 3 hours, confirming bullish conviction despite a minor pullback near $0.3500–$0.3506.

Shentu/Tether (CTKUSDT) opened at $0.3264 on 2025-09-17 12:00 ET and closed at $0.3576 at 2025-09-18 12:00 ET. The pair reached a high of $0.3598 and a low of $0.3240. Total volume amounted to 1,151,495.5 coins, with a notional turnover of $388,949.00 over the 24-hour period. The price trended higher after a period of consolidation, suggesting growing bullish interest.

The 20-period and 50-period moving averages on the 15-minute chart are both bullish, with the price consistently above both throughout the day. The 50-period MA crossed above the 20-period MA, forming a golden cross and reinforcing the uptrend. On the daily chart, the 50-, 100-, and 200-period MAs are in a positive alignment, with the price above all, supporting a continuation of the upward trajectory.

Structure & Formations

Key support levels formed at $0.3400–$0.3406 and $0.3350–$0.3356, with the latter acting as a short-term floor for much of the day. Resistance was seen at $0.3450, which was initially tested and then broken decisively. A bullish engulfing candle formed at $0.3314–$0.3316, signaling a reversal from a prior downtrend. A potential bearish continuation could be flagged if the price fails to hold above $0.3460, which marks a prior consolidation zone.

MACD & RSI

The MACD crossed into positive territory and remained above zero for most of the session, supporting the continuation of the bullish move. The RSI climbed from the mid-40s to above 60, indicating increasing buying momentum without hitting overbought territory. This suggests the uptrend may continue, although a pullback to the 50-level could provide a re-entry point for longs.

Bollinger Bands

Volatility expanded during the final hours of the session as Bollinger Bands widened from a narrow range. The price closed near the upper band, indicating strong conviction in the upward move. A contraction in bandwidth is unlikely unless a bearish reversal occurs. The widening of the bands aligns with the bullish engulfing pattern and supports a continuation of the trend.

Volume & Turnover

Trading volume surged in the final three hours of the session, with the most activity seen after 09:00 ET. The highest volume candle was recorded at $0.3514, with a volume of 333,527.9 coins. Notional turnover reached a peak at the same time, indicating strong liquidity and bullish participation. A divergence between price and turnover was not observed, suggesting that the upward move was broadly supported.

Fibonacci Retracements

The most recent swing high at $0.3598 and swing low at $0.3422 define a key Fibonacci cluster. The 38.2% level is at $0.3540, which the price held for a short period before moving higher. The 61.8% level sits at $0.3476, and a retest of this level could trigger a short-term pullback. A break below $0.3400 would suggest a potential reversal.

Backtest Hypothesis

A potential backtesting strategy could focus on the convergence of the golden cross and bullish engulfing patterns, particularly when volume and turnover confirm the breakout. Entries could be triggered when the price closes above the 20-period MA and RSI crosses 50, with a stop loss placed below the most recent support level at $0.3400. A take-profit target could be set at the 61.8% Fibonacci level of $0.3540, or higher if volatility continues to expand.