based on materials from the site - Cryptonewsland
CTK (Shentu) has recorded a price increase of 39.3%, reaching $0.3745 according to the latest data. This increase follows a clear breakout from the descending channel that had defined its structure since early May. The movement was initiated after CTK broke through the critical resistance zone around $0.2688.
After this breakout, a brief retest occurred, confirming the breakout zone before the price began to rise again. The asset has now approached the upper limit of its short-term resistance range at $0.3915, testing new momentum strength.
After trading in a descending channel for nearly two months, CTK broke through the upper boundary of this pattern at the end of June. The movement was sharp but not instantaneous. It paused to retest the $0.2688 level — previous resistance turned into support. This retest held firmly, forming a consolidation range before the next upward phase began.
This support level now serves as a structural turning point that can continue to shape price movement. From this zone, CTK has risen nearly 20% in a short period, narrowing the gap to the next resistance.
After a 20% breakout, CTK entered a steep upward trajectory. The price overcame minor resistances and approached $0.3915. This level now acts as a short-term ceiling. The token reached a 24-hour high of $0.3923, barely touching resistance without confirming the breakout. However, the consistent rise suggests that momentum remains unchanged. The overall 24-hour range for CTK now extends from $0.2872 to just under $0.3923.
CTK's results also reflect a significant increase in its BTC pair with a rise of 38.9%, measured against 0.053477 BTC. Such alignment indicates coordinated strength in both USD and BTC trading pairs. Importantly, the upward structure has maintained higher lows, confirming short-term bullish control. Traders observed a clear pattern: breakout, retest, and then continuation of price — an orderly movement rarely seen in volatile conditions.
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