CTKUSDT Price Action: Key Demand Zone and Triangle Pattern

16. Mai 2023

💎#CTK is currently revisiting the critical demand zone, which has been tested multiple times since May 2022. The ongoing consolidation within the triangle pattern indicates the potential for a bounce off the uptrend trendline. The robustness of the current support level suggests a bullish outlook, with a potential target of the upper boundary of the triangle pattern.

💎Notably, the 61.8% Fibonacci level and the 100 Exponential Moving Average have acted as significant resistance levels in the past, further reinforcing the importance of the upper boundary. As long as the price remains within the support and downtrend trendline, the probability of a continuation of the range-bound market conditions remains high.

💎However, if #CTK manages to break above the supply area, it would confirm a major uptrend. Keep a close eye on price action and volume for potential breakouts or reversals. Stay tuned for further updates!