🚨 $C98 Technical Update — Downtrend with Consolidation
$C98 is currently trading at 0.0283, below all major short-term moving averages
(MA5: 0.0290, MA10: 0.0291, MA20: 0.0292), confirming a bearish alignment.
The 120-period MA at 0.0263 remains a distant support, while the cluster of short-term MAs above price is acting as strong resistance.
📉 Market Structure
Price below key MAs → bearish bias
Selling volume is declining → bearish momentum is weakening
Capital Flows show consistent net outflows across all timeframes
(24H Net Flow: -713K USDT), indicating money leaving the market
🎯 Trade Idea — Short Setup
Short Entry: 0.0290 – 0.0295 (MA5 / MA10 confluence zone)
Stop Loss: 0.0300 – 0.0305 (above middle Bollinger Band)
Target: 0.0270 (key support)
⚠️ Alternative Scenario If price holds above 0.0282 (lower Bollinger Band) with increasing volume, a small counter-trend long can be considered:
Target: 0.0295
Use tight stops and manage risk carefully
📌 Trade smart. Manage risk.
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