CTK Breaks Channel, Gains 39% As Resistance Level Comes Into Focus
CTK surged 39.3%, breaking out of a two-month downtrend channel and retesting support at $0.2688.
The price climbed nearly 20% post-retest, nearing resistance at $0.3915 with a 24-hour high of $0.3923.
CTK gained 38.9% against BTC, showing strength across both USD and BTC pairs amid rising momentum.
CTK (Shentu) has recorded a 39.3% increase in its price, reaching $0.3745 as of the latest update. This rally follows a clear breakout from its descending channel, which had defined its structure since early May. The move was initiated after CTK broke above a critical resistance zone near $0.2688
Following this breakout, a brief retest occurred—validating the breakout zone before price began climbing again. The asset has now approached the upper limit of its near-term resistance range at $0.3915, testing new momentum strength.
Breakout Confirmed After Retest and Channel Breach
After trading within a downward-sloping channel for nearly two months, CTK breached the upper boundary of this pattern in late June. The move was sharp, but not immediate. It paused to retest the $0.2688 level—previous resistance turned support. That retest held firmly, forming a consolidation range before the next leg upward began
This support level now holds significance as a structural pivot that may continue to shape price movement. From this zone, CTK gained nearly 20% in a short span, closing the gap toward the next resistance.
Price Action Extends as Resistance Gets Revisited
Following the 20% breakout rally, CTK entered a steep upward trajectory. The price surged past minor resistances and came close to $0.3915. This level now acts as a near-term ceiling. The token reached a 24-hour high of $0.3923, narrowly brushing resistance without confirmation of a breakout. However, the consistent climb suggests the momentum remains intact. The overall 24-hour range for CTK now stretches from $0.2872 to just under $0.3923.
Source: (X) Volume-Led Rally Holds Structure Amid Strong BTC Pairing
CTK’s performance also reflects a notable gain in its BTC pair, with a 38.9% increase measured against 0.053477 BTC. This alignment indicates coordinated strength across 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 price continuation—an orderly move rarely seen in volatile conditions.