Coin98 (C98)

💎 C98/USDT Technical Analysis
🔍 Overview
C98 remains in a long-term downtrend, but there are signs of a potential reversal at key levels. Given its low market cap, it is categorized as a high-risk asset. Therefore, risk management is crucial in this analysis.

🛠 Key Price Zones
🔴 Daily Support Zone (Red):

Range: $0.1429 - $0.1558
This is the first major support level where the price has paused. A decline in selling volume indicates reduced selling pressure in this area.
⚫ Weekly Support Zone (Gray):

Range: $0.0902 - $0.1128
If the red zone fails, this level could act as the next support.
🟢 PRZ (Key Resistance Zone):

This area combines the weekly resistance and the upper boundary of the descending channel. A breakout above this resistance could signal further bullish momentum.
🎯 Suggested Price Targets (TP):
1️⃣ Fibonacci 1.272: $0.5885 - $0.6916
2️⃣ Fibonacci 1.618: $0.9670 - $1.1942
3️⃣ Fibonacci 2.272: $2.1402 - $2.5903

📉 Risk Management (Stop Loss):
Recommended Stop Loss: Below the weekly support zone (Gray), i.e., below $0.0902.
🔔 Confirmation Signals for Entry
1️⃣ Volume Increase:

A surge in volume near resistance levels, especially during a breakout, could indicate the beginning of a bullish trend.
2️⃣ RSI Indicator:

RSI entering the Overbought Zone may signal strong buying momentum.
💡 Proposed Trading Strategy
Entry Points:
1️⃣ First Entry: In the red zone ($0.1429 - $0.1558).
2️⃣ Second Entry: In the gray zone ($0.0902 - $0.1128) if the first support is breached.

Profit-Taking Strategy (Scaling Out):
1️⃣ First Target: $0.5885
2️⃣ Second Target: $0.9670
3️⃣ Third Target: $2.1402

Capital Allocation:

Allocate only 2-5% of your total capital to this trade.
Ensure you set up a Stop Loss to mitigate risks.
🌍 Market Sentiment
Given the current market conditions and low trading volumes, it’s essential to adopt a conservative risk approach. Improved market sentiment could accelerate price recovery.

✨ Final Thoughts
C98 is currently positioned in a critical zone. Entering a trade should be accompanied by meticulous risk management. A breakout of the key resistance levels could lead to significant upside potential.

Avoid hasty decisions, and always consider additional analyses before acting.

🔗 Investment Disclaimer:
This analysis is for educational purposes only. The final responsibility for any investment decisions rests with you.