CTKUSDT at Critical Retest After Major Trendline Break!CTK/USDT has successfully broken out of a long-term descending trendline that has dominated the price since November 2024, signaling a potential trend reversal from bearish to bullish. The price is now retesting a crucial supply-turned-demand zone in the $0.36 - $0.39 area, which now acts as new support.
📊 Pattern and Price Structure
Descending Trendline Breakout: A clear breakout above the long-term downtrend, indicating the start of bullish sentiment.
Key Zone (Yellow Box): The $0.36 - $0.39 area previously acted as resistance multiple times and is now being tested as support.
Potential Reversal Pattern: The overall structure resembles a possible Inverse Head & Shoulders, with a neckline around $0.43.
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🟢 Bullish Scenario
If the price holds above $0.36 and breaks through the minor resistance at $0.4323:
Next bullish targets are:
$0.5217
$0.7036
$0.8826
Up to $1.0151 as a major historical resistance
A breakout above $0.4323 with strong volume would confirm the bullish continuation.
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🔴 Bearish Scenario
If the $0.36 support fails to hold:
Potential downside levels to watch:
$0.31
$0.26
Down to the key low at $0.21
A breakdown of this zone would invalidate the reversal setup and suggest continuation of the downtrend.
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📌 Conclusion
CTK is at a critical decision point. The breakout from the downtrend is an encouraging signal, but its validity depends on whether the price can hold the new support and push above the next resistance. Volume confirmation will be key to identifying the next move.
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