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The recent market trend of CTK is indeed somewhat suppressed. The price has been encountering continuous sell orders around 0.272, with bearish sentiment clearly dominating. From the technical structure, the downtrend has already been established, and there are no obvious signs of a rebound in the short term.
Currently, the market's key focus is whether the bottom support can hold. On the technical side, 0.262 is a relatively important support level; if it breaks, there may be further downward space. Many traders are using 0.273 as a stop-loss point, with the target around 0.262.
The question is, can the bottom really stabilize? It depends on when buyers are willing to step in. At present, selling pressure remains quite heavy, and a turnaround will only occur if trading volume diminishes or clear signs of a stabilization appear.
Big wallet addresses have been reducing their positions these days. Interestingly... despite the heavy selling pressure, there are still people daring to buy the dip. My personal guess is that those caught in the trap are praying for a rebound.
Based on my analysis, the next turning point depends on when the trading volume stops being so dead. Otherwise, it’s just more of the same bottom-breaking drama. To be continued.
Data speaks for itself. How many times has the support level at 0.262 been broken? Yet here they are, seriously giving advice.
I'm not trying to argue; are buyers really taking over? Wake up, buddy. This is just self-hypnosis by the bagholders.
Wait, do you really believe that shrinking volume can save the market? Go check out the carcasses from the last cycle.
Interesting, another genius who is confident they can catch the bottom has appeared.
Actually, no one wants it. Don't give it such a fancy name like "support level."