CTK/USDT in Danger? Key Levels That Will Decide the Next MoveYello, Paradisers! Is CTK/USDT on the verge of a major breakdown, or will bulls make a comeback? Let’s dive in!
💎#CTKUSDT has broken below its ascending channel, signaling a potential trend shift. Right now, the $0.41 - $0.42 level, which previously acted as strong support, has turned into resistance. This is a critical area if buyers fail to reclaim it, the selling pressure will likely continue. Adding to the bearish outlook, price is trading below both the EMA 50 and EMA 200, further confirming that sellers remain in control.
💎A fair value gap (FVG) near $0.41 could act as a magnet for a short-term bounce, but unless price reclaims this level with strength, the downtrend remains intact. If the rejection plays out, the next target to the downside is $0.3484, with a deeper drop potentially reaching the major support zone at $0.3091.
💎On the flip side, a break above the major supply zone at $0.4631 would completely invalidate the bearish setup and open the door for another strong rally. However, as it stands, the market structure favors further downside, and a rejection at resistance could accelerate the decline.
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