📈Unlocking Potential: C98 Analysis in Weekly Timeframe💎
🔍Today, we delve into the analysis of C98 cryptocurrency, which has been consolidating within a 600-day box range from 0.1248 to 0.439 on the weekly timeframe, yet to break out.
💎C98 is among the market's potential gems, boasting a highly practical DeFi project, signaling promising growth prospects during the bull run.
💥While the RSI oscillator indicates a downward momentum by breaking the 50 line, a golden cross between SMA25 and SMA99 presents a robust bullish signal, offering an attractive entry point for this asset.
⚡️However, solely relying on indicators and oscillators is not prudent; confirmation from price action and candlesticks is crucial. As we reached 0.439, a significant decrease in volume suggests traders' reluctance to breach this level, resulting in a 40% correction.
🛒For buyers, patience is key to observe the direction of price movement. In case of further correction, waiting for confirmation between 0.2 to 0.236 could be prudent. Conversely, a move towards 0.439 requires confirmation with a close above this level for a comfortable buying opportunity.
🚀Regarding targets, given the project's promising utility, it's advisable to wait for the all-time high (ATH) before making significant decisions.
🧠💼It's important to acknowledge the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Always adhere to strict capital management principles and utilize stop-loss orders, ensuring that the initial target offers a risk-to-reward ratio of 2
💎C98 is among the market's potential gems, boasting a highly practical DeFi project, signaling promising growth prospects during the bull run.
💥While the RSI oscillator indicates a downward momentum by breaking the 50 line, a golden cross between SMA25 and SMA99 presents a robust bullish signal, offering an attractive entry point for this asset.
⚡️However, solely relying on indicators and oscillators is not prudent; confirmation from price action and candlesticks is crucial. As we reached 0.439, a significant decrease in volume suggests traders' reluctance to breach this level, resulting in a 40% correction.
🛒For buyers, patience is key to observe the direction of price movement. In case of further correction, waiting for confirmation between 0.2 to 0.236 could be prudent. Conversely, a move towards 0.439 requires confirmation with a close above this level for a comfortable buying opportunity.
🚀Regarding targets, given the project's promising utility, it's advisable to wait for the all-time high (ATH) before making significant decisions.
🧠💼It's important to acknowledge the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Always adhere to strict capital management principles and utilize stop-loss orders, ensuring that the initial target offers a risk-to-reward ratio of 2