Coin98 ($C98 ) is showing signs of exhaustion after a recent attempt to sustain its breakout. The technical structure suggests a "Short" bias in the immediate term:
Resistance Rejection: The price is struggling to stay above the $0.031 – $0.033 zone.
Every push into this resistance has been met with significant selling volume, forming long upper wicks (wicking out).
Overbought Correction: Following an 18% gain earlier this week, momentum oscillators like the RSI reached overbought levels (73+) and are now curving downward, signaling a "cooling off" phase or profit-taking.
Support Breach: Keep a close eye on the $0.0284 level. A clean break below this Fibonacci support could trigger a quick flush toward the $0.026 range.
Market Sentiment: While the long-term project fundamentals are strong (Vietnam expansion), the short-term Taker Ratio shows sellers are currently dominant.
#Coin98 #CryptoAnalysis #ShortTrade
