Shentu/Tether (CTKUSDT) Market Overview for 2025-09-15

• Shentu/Tether (CTKUSDT) traded in a volatile range today, forming key support and resistance levels.
• A bearish reversal pattern emerged near resistance, while momentum indicators suggested waning bullish pressure.
• Volume spiked during price declines, signaling possible bearish conviction and potential continuation of the downtrend.
• Price broke below recent Bollinger Band midlines, indicating contraction in volatility and possible upcoming expansion.
• RSI and MACD showed mixed signals, with RSI entering oversold territory but failing to confirm a strong reversal.

Shentu/Tether (CTKUSDT) opened at 0.3407 on 2025-09-14, reached a high of 0.3479, fell to a low of 0.3254, and closed at 0.3289 by 12:00 ET on 2025-09-15. Total traded volume was 1,166,613.9, and notional turnover was approximately 383,530.5 USD over the 24-hour window.

Structure & Formations

The 24-hour chart for CTKUSDT showed a distinct bearish reversal pattern forming near the 0.3479 resistance level, with a large bearish candle closing near the session low. Key support levels were identified at 0.3407, 0.3350, and 0.3261, the latter forming as a result of a strong bearish engulfing candle at 07:45 ET. The price then consolidated briefly before breaking through the 0.3261 support, suggesting further downward potential. A bullish engulfing pattern at 06:00 ET attempted a reversal, but it failed to hold given the subsequent break below key support. These patterns suggest traders may watch for a test of the next major support at 0.3220–0.3200.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages have converged near 0.3430, with the price breaking below them and showing a bearish crossover. On the daily chart, the 50-period moving average is currently at 0.3435, while the 100-period and 200-period lines are slightly higher at 0.3442 and 0.3449, respectively. The price remains below all three, suggesting a bearish bias and reinforcing the likelihood of continued selling pressure if the current trend holds.

MACD & RSI

The MACD line crossed below the signal line early in the morning, forming a bearish crossover that coincided with a sharp price decline. The histogram has shown a consistent bearish divergence, confirming the downward momentum. Meanwhile, the RSI has fluctuated between overbought and oversold levels, entering oversold territory around 09:00–10:00 ET but failing to trigger a meaningful bounce. This suggests weak conviction in the short-term reversal and indicates that bears still hold the initiative.

Bollinger Bands

The price has spent much of the session near the lower Bollinger Band, indicating heightened volatility and a bearish trend. A period of band contraction occurred between 02:00–04:00 ET, followed by an expansion that coincided with a sharp price drop. The bands are currently wide, suggesting increased trading activity and potential for further downside. Traders may watch for a break below the lower band to confirm a continuation of the bearish bias.

Volume & Turnover

Volume has spiked during key bearish moves, particularly between 07:45–08:30 ET, when the price broke below the 0.3261 support. This suggests strong bearish conviction during those hours. Notional turnover also increased during those periods, confirming the price action. A divergence was observed between price and turnover at 06:00–07:00 ET, where the price briefly reversed but turnover failed to confirm the move. This highlights a lack of immediate buyer interest, increasing the risk of further declines.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute swing high of 0.3479 and the low of 0.3254, key levels include 0.3382 (38.2%) and 0.3314 (61.8%). The price has tested the 0.3314 level with mixed results, suggesting that this area could serve as a potential support or trigger further bearish movement. On the daily chart, retracement levels based on the previous high (0.3479) and a potential swing low (0.3254) align with the current price range, reinforcing the significance of the 0.3314 and 0.3220 levels.

Backtest Hypothesis

A potential backtesting strategy could focus on confirming the bearish bias using a combination of RSI and MACD signals in conjunction with key support levels. For example, a sell entry could be triggered when the RSI dips into oversold territory (below 30) while the MACD line remains below the signal line and shows bearish divergence. This setup was observed during the 09:00–10:00 ET window, with a stop-loss placed just above the nearest resistance (0.3314). A take-profit target could be set at 0.3220–0.3200, where Fibonacci and earlier support levels converge. The strategy’s effectiveness would depend on the strength of the volume and the degree of price confirmation during the setup.