Shentu/Tether (CTKUSDT) 24-Hour Market Overview

• Price traded between $0.2916 and $0.306, with late-night volatility pushing price to a 24-hour high of $0.306.
• Strong volume surges at $0.302–$0.306 suggest institutional or large-cap buyer interest.
• RSI remains in overbought territory, but price may consolidate near $0.298–$0.302 in the near term.

Shentu/Tether (CTKUSDT) opened at $0.2931 on 2025-11-10 at 12:00 ET and closed at $0.3005 by 12:00 ET on 2025-11-11. The pair reached a 24-hour high of $0.306 and a low of $0.2916. Total traded volume was 2,198,335.2, with notional turnover reaching $666,816.7. Price action showed a volatile but well-structured reversal from bearish to bullish tendencies post-11 PM ET.

Structure & Formations

Key resistance levels formed at $0.303 and $0.306, with a strong bearish rejection observed at the latter. Support appears consolidated at $0.297–$0.298, where multiple candlesticks closed near the highs, signaling a potential base. A Bullish Engulfing pattern emerged at $0.2976–$0.298, suggesting short-term buying pressure. A potential Double Bottom is forming at $0.2937–$0.295, which could offer a stronger base if tested again.

Moving Averages

On the 15-minute chart, the 20SMA and 50SMA crossed positively in the last 6 hours, confirming a bullish tilt. The 20SMA is currently at $0.299, and the 50SMA is at $0.300, indicating short-term momentum is favoring buyers. On the daily chart, the price is trading above both 50DMA and 200DMA, suggesting an ongoing long-term bullish trend.

MACD & RSI

The MACD histogram shows a positive divergence, with the line crossing above the signal line in the early hours of 11-11. RSI climbed to 72 near the session high and has since consolidated near 60, which indicates strong momentum but not yet overbought. A pullback into the 50–55 range may provide a better entry for longs, though a break of $0.306 could trigger a RSI reading above 75, signaling caution.

Bollinger Bands

Volatility expanded significantly after 10 PM ET, pushing price near the upper band at $0.306. The bands have since widened to $0.292–$0.308, indicating heightened uncertainty. Price remains above the 20-period SMA within the bands, maintaining a bullish context. A sustained close below the lower band may indicate a reversal, though current readings favor consolidation.

Volume & Turnover

Volume spiked to 278,014.9 at 2:45 AM ET and remained elevated through early morning hours, indicating strong institutional participation. Turnover surged during the same period to $86,600, confirming volume’s alignment with price action. A divergence is emerging after 10 AM ET, with price rising while volume declines—suggesting possible exhaustion in the bullish move.

Fibonacci Retracements

Applying Fibs to the swing low at $0.2937 and swing high at $0.306, key retracement levels are at $0.2993 (38.2%) and $0.2975 (61.8%). Price appears to have found support at $0.298–$0.299, suggesting traders may target these levels for further confirmation. A breakdown below $0.2975 could trigger a retest of the $0.2937 level, while a close above $0.303 may lead to a retest of $0.306.

Backtest Hypothesis

To validate the bullish potential observed in the recent reversal patterns and volume spikes, a backtesting strategy can be applied using the Bullish Engulfing candlestick pattern. This pattern was visible at $0.2976–$0.298 during the early morning hours, making it a candidate for a buy entry. The proposed strategy involves entering a long position at the next day’s open upon pattern confirmation and holding for exactly five trading days, exiting at the close of the fifth day. A stop-loss or take-profit is not included in this initial hypothesis to maintain a clean assessment of the pattern’s efficacy. This approach mirrors the structure of typical momentum-driven strategies and could be tested on a broader universe of crypto pairs for comparative analysis.