$C98 : The DeFi Comeback or just a Fakeout? 🤔
Coin98 (
$C98 ) is showing some serious volatility today. After a massive spike, we are seeing some cooling off. Here is the breakdown of what’s happening on the hourly chart:
1. The "Big Wick" Rejection
We saw a huge pump all the way to $0.0321, but the sellers stepped in immediately. That long upper wick tells us there is heavy resistance near that level. Currently, the price is sitting at $0.0214, trying to find its footing after that roller coaster move.
2. Crucial Support Levels
Right now, C98 is testing the MA(25) around $0.0213. This is a "make or break" zone. If it holds here, we might see another attempt to push higher. However, if it drops below $0.0202 (MA99), the bullish momentum might completely fade away.
3. My Take: Patience is Key
The 24h volume is healthy at 615M C98, but the price is currently in a retracement phase. I’m not jumping in blindly here. I’d rather wait to see if it consolidates around this $0.021 area or dips back to the $0.018 zone for a safer entry.
Are you guys "Buying the Dip" on C98, or do you think the pump is over? Let me know your strategy below! 👇
#c98 #coin #defi #BinanceSquare #Altcoins