$C98 1D Price Analysis đ
As I analyze the #C98/USDT daily chart, I notice that the price is currently trading at 0.1621, showing signs of a steady recovery after a prolonged downtrend. The price is following an ascending trendline, which indicates sustained bullish momentum in the short to medium term.
The first key resistance is at R1 (0.1876). A breakout above this level would signal a continuation of the bullish trend, with the next major resistance zones at R2 (0.2402) and R3 (near 0.3000), where sellers may re-enter the market. On the downside, immediate support is at S1 (0.1361), which aligns with the ascending trendline. A break below S1 could lead to a deeper correction toward S2 (0.0900), a critical level for maintaining the bullish structure.
The MACD (12, 26) indicator shows a positive signal, with the MACD line above the signal line, indicating growing bullish momentum. However, the histogram is flattening, suggesting a potential slowdown in momentum. The RSI (14) is at 58.79, sitting comfortably in neutral territory, which indicates that there is room for further upward movement before the price enters overbought conditions.
If C98 continues to respect the ascending trendline and breaks above R1, it is likely to challenge R2 and potentially R3. However, if the price fails to break through R1 and loses support at S1, it could lead to a retracement toward S2, where the price might consolidate before making another attempt to move higher.
In conclusion, my outlook for #C98/USDT remains cautiously bullish. The focus is on whether the price can sustain above S1 and break through R1 to confirm a continuation of the upward trend. I remain attentive to the behavior at key levels, particularly around R1 and S1, to adapt my strategy as the market evolves.
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I hope this analysis has been helpful to you.