#C98/USDT Key Levels to Watch for Reversal or Continuation
The C98/USDT pair is currently trading at 0.1255, positioned below the 200-period Simple Moving Average (SMA) at 0.1273, suggesting a bearish trend in the medium term. The Volume-Weighted Average Price (VWAP) is at 0.1300, indicating that the price is trading below its average level, reflecting bearish sentiment.
RSI (Relative Strength Index): The RSI is at 38.49, which is below the neutral 50 level, indicating bearish momentum. The RSI is approaching the oversold territory but has not yet reached it, suggesting that there could still be some room for further downside.
The MACD shows a bearish crossover, with the MACD line below the signal line and the histogram in the negative zone. This indicates that the bearish momentum is currently dominant.
Bullish Scenario:
If the price can recover above the 200-period SMA at 0.1273 and sustain above this level, it could signal a potential bullish reversal. The first target for the bulls would be the VWAP level at 0.1300. A break above this level, particularly with strong volume, could push the price toward the next resistance at 0.1554, indicating a shift towards a bullish trend.
Bearish Scenario:
On the downside, if the price fails to reclaim the 200-period SMA and continues to decline, it could retest the immediate support zone around 0.1243. A break below this support level could confirm a continuation of the bearish trend, targeting further downside towards the next support at 0.1100 or even lower.
Disclaimer:
This analysis is for informational purposes only and does not constitute financial advice. Cryptocurrency trading involves high risk and may not be suitable for all investors. Always conduct your own research and consult with a financial advisor before making any trading decisions.
