CTK USDT Shentu Technical Analysis

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By Frans van Elst

Shentu logo In this Shentu technical analysis, we will examine the current price action, trading volume, key levels and indicators for CTK-USDT. Shentu (CTK) is a decentralized blockchain platform that enables the creation of smart contracts and decentralized applications (dApps). CTK utilizes a proof-of-stake consensus algorithm, which allows for more energy-efficient and secure transactions. With Shentu’s innovative features and growing community support, it is poised to become a leading player in the blockchain and cryptocurrency space.

Shentu Price Overview:

As of May 18, 2024, Shentu is trading at approximately 0.6889 USDT. Let’s dive into the detailed price action for CTK-USDT:

Follow potential bearish trend for Shentu (CTKUSDT) at 6.89e-01 USDT with technical analysis, indicating cautionary indicators and weakened support.

Metric Value
Open (O) 0.6894
High (H) 0.699
Low (L) 0.6818
Close (C) 0.6889
Volume (C) 216,465.50
  • Open (O): The opening price for today’s trading session was approximately 0.6894 USDT.
  • High (H): Shentu reached a daily high of around 0.699 USDT.
  • Low (L): The daily low for CTK-USDT was approximately 0.6818 USDT.
  • Close (C): At the time of analysis, Shentu is trading near its daily close of 0.6889 USDT.
Metric Value
1D Change (%) -0.14%
3D Change (%) 3.45%
7D Change (%) 1.77%
30D Change (%) -1.94%
90D Change (%) -4.09%
YTD Change (%) -11.57%

Over the past three days, CTKUSDT has increased by approximately 3.45%, showcasing increased market volatility. Throughout the last week, it continued to rise, with a gain of around 1.77%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with CTKUSDT maintaining a downward trend of approximately -1.94%, despite intermittent fluctuations. Examining the last 90 days, CTKUSDT has witnessed substantial decrease of approximately -4.09%, reflecting strong long-term confidence. Year-to-date, CTKUSDT has steadily decreased by around -11.57%, 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-USDT 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 0.50403.
  • Momentum score is -0.05071.

CTK USDT Technical Analysis

Shentu Trading Volume:

The trading volume for Shentu (CTK) over the past 24 hours has been insignificant, with approximately 216,465.50 USDT 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-USDT is currently in the neutral zone, around 45.98628. This suggests that Shentu is in range-bound territory.

Analysis from TradingView:

Our Key Takeaways:

Shentu (CTK-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the neutral RSI and insignificant trading volume are neutral signals for potential sideways movement.

Follow potential bearish trend for Shentu (CTKUSDT) at 6.89e-01 USDT with technical analysis, indicating cautionary indicators and weakened support.

Missing our detailed breakdown on CTK BTC Shentu Technical Analysis would be a lost opportunity if you found value in this post.

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.

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