šØ $C98 Downtrend with Consolidation ā Bounce Sell Setup
$C98 is currently trading around 0.0283, remaining below all major moving averages (MA5, MA10, MA20). This bearish MA alignment signals continued downside pressure, while the cluster of short-term MAs overhead is acting as strong immediate resistance.
Despite the sell-off, volume has been declining, suggesting bearish momentum is weakening rather than accelerating. However, capital flows remain negative across all timeframes, with 24h net outflows of -713K USDT, confirming that money is still exiting the market.
š Short Trade Idea
Entry (on bounce): 0.0290 ā 0.0295 (MA5/MA10 confluence)
Stop Loss: 0.0300 ā 0.0305 (above Bollinger mid-band)
Target: 0.0270 (key support zone)
ā ļø Alternative Scenario If price holds above 0.0282 (Bollinger lower band) and volume starts increasing, a small speculative long could be considered for a short-term bounce toward 0.0295, with tight risk management.
Market structure remains fragile ā patience and confirmation are key here.
