1. Current price and recent movement
$CTK (Shentu) trades at approximately $0.4118, showing a slight correction of -14.98% in 24h, but a moderate drop of -0.15% in the last hours. While it maintains intraday volatility, the price stabilizes after strong movements.
2. Does it go up, down, or sideways?
The recent behavior suggests sideways movement with a bearish bias: after the pullback from the intraday peak of $0.505, CTK has oscillated between $0.41 and $0.50, forming a narrow range. This pattern shows consolidation, although it still does not define a clear direction.
3. Market Context
The recent selling pressure may be linked to the partial liquidation of leveraged positions after a recent rally, combined with new audits of DeFi projects on the Shentu network that have generated caution. Local crypto sentiment remains optimistic, albeit with caution due to high volatility.
4. Technical Analysis (next hours)
RSI (14): currently in neutral range (~50), suggesting balance between buyers and sellers, but with the possibility of a rebound if volume recovers.
Moving average crossover (MA50 and MA200): the MA50 remains above the MA200, confirming a medium-term bullish trend; however, the price is below the MA50, a key support zone.
Bollinger Bands: the price is close to the lower band, which usually indicates short-term overselling. This could anticipate a rebound towards the center of the range in the next hours.
CTK is in the support zone ($0.41–$0.42). Technically, if it breaks above the MA50 with increased volume, it could resume upward to $0.47–$0.50. Otherwise, a bearish breakout from the range could drag the price down to $0.38–$0.40.
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