๐จ $C98 Clear Downtrend
Current price (0.0262) is trading below all major moving averages (MA5=0.0268, MA10=0.0271, MA20=0.0273, MA120=0.0272). This configuration indicates a bearish alignment, with the short-term MA5 below the longer-term averages, confirming strong selling pressure and a sustained downtrend.
Recent K-line data shows significant selling volume during down move on a sharp decline. This is a classic sign of capitulation โ high volume on down moves indicates strong selling pressure and a lack of strong bids. The most recent candles show lower volume, which could indicate selling exhaustion or a pause before the next move.
Capital Flow: The data shows consistent and significant net outflows across nearly all timeframes for both spot and contract markets. Critically, the 24H contract net outflow is -1M, and the 7D spot net outflow is -1,1M. This massive and sustained capital flight is a powerful bearish signal, indicating a lack of buyer confidence and a strong preference for exiting positions.
Entry short $C98 : pullback towards resistance cluster 0.027-0.0274 if rejected.
โข Alternatively, break below support 0.026 (24h low) with volume could be used as a confirmation for a short entry
Stop-Loss: above 0.028. This is above the key resistance and the MA20, providing a logical invalidation point for the bearish thesis.
Target Price : 0.0257 (major support). A break below this could see a move towards lower support 0.025.
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