In this Shentu technical analysis, we will examine the current price action, trading volume, key levels and indicators for CTK-BTC. Shentu is a decentralized cryptocurrency that utilizes advanced blockchain technology to provide secure, fast, and transparent transactions for its users. It has a unique consensus mechanism called “Proof of Stake with Adaptive Nomination” which allows for faster transaction times and increased security. Shentu’s community-driven governance model ensures that the cryptocurrency is decentralized and controlled by its users, rather than a small group of individuals or organizations.
Shentu Price Overview:
As of September 22, 2023, Shentu is trading at approximately 2e-05 BTC. Let’s dive into the detailed price action for CTK-BTC:
| Metric | Value |
|---|---|
| Open (O) | 2e-05 |
| High (H) | 2e-05 |
| Low (L) | 2e-05 |
| Close (C) | 2e-05 |
| Volume (C) | 358,780.30 |
- Open (O): The opening price for today’s trading session was approximately 2e-05 BTC.
- High (H): Shentu reached a daily high of around 2e-05 BTC.
- Low (L): The daily low for CTK-BTC was approximately 2e-05 BTC.
- Close (C): At the time of analysis, Shentu is trading near its daily close of 2e-05 BTC.
| Metric | Value |
|---|---|
| 1D Change (%) | 0.36% |
| 3D Change (%) | -0.35% |
| 7D Change (%) | -4.74% |
| 30D Change (%) | -7.30% |
| 90D Change (%) | -18.40% |
| YTD Change (%) | -62.29% |
Over the past three days, CTKBTC has decreased by approximately -0.35%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -4.74%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with CTKBTC maintaining a downward trend of approximately -7.30%, despite intermittent fluctuations. Examining the last 90 days, CTKBTC has witnessed substantial decline of approximately -18.40%, reflecting strong long-term confidence. Year-to-date, CTKBTC has steadily declined by around -62.29%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Shentu Live Chart:
You can access a live price chart for CTK-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.64052.
- Momentum score is -0.07296.
CTK BTC Technical Analysis
Shentu Trading Volume:
The trading volume for Shentu (CTK) over the past 24 hours has been insignificant, with approximately 358,780.30 BTC traded against CTK. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): CTK is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Shentu is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for CTK-BTC is currently in the low zone, around 43.06572. This suggests that Shentu is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Shentu (CTK-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.
