C98, the native token of the C98 platform, has seen a significant decline from its all-time high (ATH) of $6.445. However, recent price action suggests that the token might be forming a potential bottom, signaling the possibility of a bullish turnaround. Here's a deeper dive into the technical setup and why investors should keep an eye on C98's next move.

Current Technical Setup: Expanding Triangle Pattern

C98's price action has recently been shaping an expanding triangle pattern, which often precedes a bullish breakout. This pattern typically signals increased volatility, with price action expanding between upper and lower trendlines. For investors, the lower portion of this pattern represents an accumulation zone, where they can buy at relatively lower prices before a potential rally.

Key Resistance and Breakout Levels

The critical level to watch is the upper trendline of the expanding triangle. A breakout above this trendline could trigger a significant upward movement, signaling the start of a new bullish trend for C98. Monitoring volume and momentum indicators will be crucial to confirm the strength of the breakout and its potential sustainability.

Potential Investment Strategy

If you're bullish on C98, hereโ€™s a potential strategy:

Gradual Accumulation: Buy C98 within the accumulation zone to take advantage of potential dips.

Monitor Volume: Keep an eye on trading volume and momentum to ensure the breakout is backed by solid buying interest.

Profit Targets: Once the breakout occurs, set profit targets at previous resistance levels or Fibonacci extensions, which can act as key price points for exits.

Should You Invest in C98?

As with all cryptocurrency investments, there are inherent risks involved. Before jumping in, it's essential to conduct thorough research and consider consulting a financial advisor. While C98 is showing potential for a reversal, the market remains volatile, and risk management is key.

Conclusion: A Bullish Turnaround Possible?

C98 is currently testing a critical phase that could mark the beginning of a potential reversal. If the breakout above the expanding triangle occurs, there could be significant upside potential. For those willing to embrace the risks and watch the market closely, C98 might offer an exciting opportunity.

Stay tuned for more updates on C98's price action, and share your thoughts on this potential breakout!

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