Shentu/Tether (CTKUSDT) Market Overview for 2025-11-06

Summary
• Shentu/Tether traded lower with a 24-hour low of 0.2755 and a high of 0.2863.
• Volume surged to 49,200+ in the late session, indicating increased participation.
• RSI and MACD suggest mixed momentum, with signs of bearish pressure in the latter half.

Shentu/Tether (CTKUSDT) opened at 0.2778 at 12:00 ET–1 and reached a high of 0.2863 before closing at 0.2770 by 12:00 ET today. The 24-hour trading volume was approximately 544,262 units, with total turnover amounting to $153,474.

Structure & Formations

The price action on the 15-minute chart displayed a bearish bias after 05:00 ET, with a key support level forming around 0.2770-0.2780. A large bearish candle with a long upper wick appeared around 06:00 ET, indicating rejection at higher levels. A potential bullish engulfing pattern formed near 0.2790-0.2810, suggesting short-term buying interest.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages were in a bearish alignment, with the price below both. On the daily chart, the 50- and 200-period moving averages show a longer-term bearish bias, with the price trading below these levels, indicating a downtrend in longer-term sentiment.

MACD & RSI

The 15-minute MACD turned bearish in the last 6 hours, with the histogram shrinking and the line crossing below the signal line. RSI dipped into oversold territory below 30 in the final hours of the session, indicating potential for a near-term bounce. However, the bearish momentum remained intact for most of the day.

Bollinger Bands

Price action stayed within the Bollinger Bands for most of the session, with a period of contraction observed from 03:00 to 05:00 ET, indicating a calm before a breakout. Price broke below the lower band briefly before 06:00 ET, which may suggest a continuation of the bearish trend.

Volume & Turnover

Volume spiked significantly in the early morning session, peaking at 54,426 units at 07:45 ET, which coincided with a price rejection at the 0.2813-0.2824 range. Notional turnover also surged, with a clear alignment between price and volume in the morning. A divergence between price and volume emerged in the late afternoon, with volume declining despite a minor rally.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent swing from 0.2770 to 0.2863, key levels at 38.2% (0.2817) and 61.8% (0.2793) were tested multiple times. The 61.8% level has held as resistance, with a breakdown below this level likely to trigger further bearish momentum.

Backtest Hypothesis

The backtest strategy described in the input aims to identify Golden Cross opportunities on the 15-minute MACD (12, 26, 9) for the CTKUSDT pair and evaluate performance over a 3-day holding period. While the MACD showed a bearish bias on 2025-11-06, with no golden cross observed, this approach could have been effective in identifying short-term bullish entries in prior sessions where the histogram turned positive. The strategy hinges on the correct ticker symbol for data retrieval and the liquidity of the selected exchange, which will determine its accuracy and reliability. A properly configured backtest from 2022-01-01 to today would provide valuable insight into how this indicator-based system performs in various market conditions.