<strong><em>CTK prices continue to trend sideways within a consolidation range despite a boom in trading volume and struggle to break out on either side.</em></strong>

Key technical points:
<ul>
 	<li>The CTK market price consolidates for a month.</li>
 	<li>The accumulation zone ranges between $0.74 and $0.91.</li>
 	<li>The 24-hour trading volume of Shentu is $39.5 Million, indicating a hike of 350%.</li>
</ul>
<h2><strong>Past Performance of CTK</strong></h2>
The consolidation range between $0.74 and $0.90 contains the sideways trend in CTK prices for more than a month, with multiple fakeouts. The consolidation range cushions the previous downtrend accounting for 50% within two months resulting in the fallout of all the crucial daily EMAs.

<img src="https://s3.tradingview.com/snapshots/x/xFGqsgCH.png" alt="TradingView Chart" />

<strong>Source- </strong><a href="https://www.tradingview.com/x/xFGqsgCH/" target="_blank" rel="noopener">Tradingview</a>
<h2>CTK Technical Analysis</h2>
CTK prices form a daily Doji candle with long-range on either side with a jump in trading volume as it fails to break the consolidation range. Hence, traders must wait for a price action confirmation to take a trade on either side. The flattish 20-and-50-day EMA accentuates a short-term consolidation in price action. However, the coin price trading below the 100-and-200-day EMA indicates an overall downtrend. The daily-RSI slopes struggling to surpass the midline(50%) indicates the sellers wrestle with buyers to maintain trend control.

However, a gradual rise in the fast and slow line of the MACD indicator hints at a significant possibility for market value to breach the $1 mark. However, a jump above the neutral would provide a better confirmation. As a result, the technical indicators show price consolidation and a lack of commitment from buyers to maintain a bullish rally. In a nutshell, the CTK <a href="https://www.cryptoknowmics.com/news/aventus-technical-analysis-price-spikes-by-151-38/">technical analysis</a> forecasts a sideways trend continuation.
<h2>Upcoming Trend</h2>
If the bullish influence grows over the consolidation range, CTK prices can break the overhead resistance at $0.90 to reach the psychological mark of $1.

<b>Resistance Levels:</b> $0.90 and $1

<b>Support Levels:</b> $0.74 and $0.60

CTK Technical Analysis: Indecisive Traders Fuel The Consolidation Rally

CTK Technical Analysis shows prices continuing to trend sideways within a consolidation range despite a boom in trading volume.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

CTK Technical Analysis: Indecisive Traders Fuel The Consolidation Rally

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