The recent trend of CTK needs to be particularly noted. Technically, some warning signals have emerged—the 4-hour and 1-hour charts both show a death cross pattern, and the short to mid-term trend is not very optimistic. The current price is hovering around the 0.27 position, and the MACD indicator and moving average system are in a short positions arrangement.

It is worth noting that the RSI on both the 15-minute and 4-hour timeframes is at a low level, with selling pressure being quite evident. This combination of technical indicators often suggests the possibility of further downside. The rebound strength is insufficient, and the subsequent trend may be quite volatile.

From the on-chain data, the situation is somewhat subtle. The order book depth shows a considerable amount of buy orders, but the funding rate is negative — this means that short positions are earning interest, while the confidence of long positions seems to be lacking. The overall long-short ratio and the positions of large holders remain at a high level, indicating that long positions may be overly concentrated, posing a certain liquidation risk. The activity of active buy and sell orders has nearly returned to zero, and the market is quiet, which is often a precursor to significant volatility.

If you are considering short positions, you can focus on a profit-taking range of 2% to 3%. However, it is important to emphasize that contract trading is highly volatile, so be sure to set your stop-loss position and strictly control your position ratio. The market may experience reverse fluctuations at any time, and risk management should always come first.