$CTK Incredible bounce and firmness it has now, it looks very interesting for investment. Here's the analysis.
NOTE: This is my analysis, but remember to prioritize your strategy first. Follow me as I provide an overview of how the markets are performing, helping you decide whether or not to invest. Remember to prioritize your strategy first.
Overall Trend (in the visible period):
The chart shows a significant drop from a peak near $0.40 in late June to a low around $0.27-$0.28 in early July. This marks a clear downtrend over this period.
Recent Price Action (Last Hours/Days):
Since July 4, the price has found an apparent bottom near $0.27-$0.28.
It has begun to form slightly higher lows and is showing an attempt at a recovery or rebound.
Trading Volume:
The sharpest declines occurred on high volume.
The recent rebound has had modest volume, although a slight increase is observed on the last bullish candles, which is positive, but not a sign of massive capital inflows yet.
Short- or Medium-Term Bullish?
Based exclusively on this technical analysis of the 1-hour chart:
Short-Term (next hours to 1-2 days):
There are signs of an initial bounce or recovery from the lows. The formation of higher lows suggests that selling pressure has temporarily eased and buyers are attempting to take control. This bounce could continue toward immediate resistance levels such as $0.30-$0.31.
CM.