🔹 What Just Happened?
CTK (Shentu) broke out of a 2-month-long falling channel and jumped 39%, fueled by strong volume and a textbook breakout-retest-continuation pattern.
✅ Breakout zone: $0.2688 (key former resistance turned into support)
✅ 24H high: $0.3923
✅ Current price: $0.3178
✅ BTC Pairing strength: +38.9% — CTK is outperforming in both USD and BTC terms
📊 Price Action Summary
Channel Breakout: CTK was trapped in a downward-sloping channel since May. On breakout, price surged above $0.2688.
Successful Retest: Price came back to test the $0.2688 zone — which held strong as support.
Bullish Continuation: From the retest, CTK spiked nearly 20%, touching a key resistance zone near $0.3915–$0.3923.
📈 Key Levels to Watch
🔹 Support:
$0.2688 → Major breakout zone, now a strong base
$0.2870 → Local support formed after rally
🔸 Resistance:
$0.3915 → Local high, acting as a short-term ceiling
$0.4150 → Next possible breakout zone if $0.3915 flips
$0.4450 → Macro target from previous highs
🧠 Technical View
✅ Structure: CTK has broken out of a falling pattern and is showing higher lows — a bullish signal.
✅ Volume: Increased volume during breakout and after retest confirms strength.
🔄 Now consolidating under $0.3915 — bulls must push above this level with strong volume for the next leg up.
⚠️ If rejected here, watch $0.2870–$0.2688 as key pullback zones.
📌 What Traders Should Do Now
For Holders:
➡️ As long as price stays above $0.2688, the bullish trend structure remains intact. No need to panic.
For Buyers:
➡️ Watch for a clean breakout above $0.3923 with volume — that would confirm continuation to $0.4150+.
For Short-Term Traders:
➡️ This is a breakout-retest continuation play. Use tight stop-loss below $0.2870 if entering now.
📝 Conclusion
CTK has shown one of the cleanest bullish setups recently — breakout, retest, continuation. But now it faces its biggest test at $0.3915. If it breaks through, the next run could surprise to the upside. But failure to do so could bring back short-term sellers.