$C98 went quiet after the drop...no follow-through selling. Around 0.0260, price looks settled and found a local base after the 0.0253 flush.
If buyers step in and reclaim the short-term moving averages, $C98 can lift without much resistance.
Entry: 0.0258 – 0.0265
TP1: 0.0285
TP2: 0.0310
TP3: 0.0350
SL: 0.0250
The current price action on the 15m chart indicates a classic exhaustion of the bears. After a sharp decline from the 0.0279 area, the price hit a low of 0.0253 where buyers immediately stepped in, creating a solid wick that signifies high-conviction demand.
This "V-shape" attempt at the bottom suggests that the selling pressure has effectively been neutralized. As C98stabilizes near the MA(7) and MA(25), it is entering a period of low-volatility accumulation.
The technical setup is now coiling for a potential reversal. The primary obstacle remains the MA(99) at 0.0272; once the price clears this level on high volume, it opens up a liquidity void that could easily propel the asset toward the $0.030 psychological mark.
In this phase of the market cycle, institutional players often use these "quiet zones" to build positions before a trend shift. As long as the 0.0253 support holds on a closing basis, the bias is shifting from bearish to cautiously optimistic, making this a high-probability setup for a relief rally.