TL; DR Breakdown
- C98 was following a favorable trend on the previous day’s Coin98 price analysis chart.
- The daily price analysis chart shows that the coin has been trading moderately within a tight range.
- C98 is trading in a slight bullish momentum on the daily price analysis chart.
Coin98 price analysis: General price overview
C98 was following a favorable trend on the previous day’s Coin98 price analysis chart. However, this bullish movement was halted by solid selling pressure when the daily price analysis chart set in, causing the prices to drop sharply to the lowest level on the daily price analysis chart at $3.9. The bulls seemed to be on the drawing board strategizing a possible attack that would alter the current negative trend. The bulls congregated in large numbers and amassed enough power to establish solid support that reversed the bearish trend, causing the Coin98 to surge.
The Bollinger bands are narrow on the early trading hours, meaning the coin is moderately volatile. The rice was lying slightly above the Lower band and shown possibilities to cross below the band; this indicates that the market is in the hands of the sellers.
The daily price analysis chart shows that the coin has been trading moderately within a tight range, meaning the coin is trading in a less volatile market.
On the five-day Coin98 price analysis chart, 50-day MA seems to have crossed above 100-day MA. This is an indication of a potential bull market.
Most of the crypto heatmap parts are greenish, meaning the bulls dominate the market and are set to push the prices to where they were before the current dip.
The most popular digital asset BTC is presently priced at $46.9K and will reach $50K. ETH, is trading around $3.5K with a 4 percent increase. The bulls are eyeing ETH’s target of $4K as their next stop. Buyers intend to bring BNB back to its previous value before the current price dip.
C98/USD price movement in the last 24 hours: Buyers outdo the sellers
C98 is trading in a slight bullish momentum on the daily price analysis chart. Coin98 has a trading volume of about $333 million and a market capitalization of $187 million, ranking it number 249 in the overall market.
The C98/USD pair has been trading moderately on the daily price analysis chart. The red and green candlesticks seem to be of the same number hence the moderate market trend.
C98/USD 4-hour price analysis chart: Bear dominance
On the four-hour price analysis chart, sellers seem to have gotten a slight bearish momentum as the red candlesticks outnumber the green ones.
The Balance of Power indicator ranges on the negative side, meaning the seller’s pressure has overwhelmed the strength of the weak bulls making the buyers watch while sellers cause further price dips.
Coin98 price analysis: Conclusion
The MACD line has crossed below the red signal line implying the coin’s bear pressure is so intense, and it is likely to cause further price dips. In addition, the short red bars have outnumbered the green bars on the MACD histogram, indicating that the market is trading in a bearish trend. If the selling pressure continues, the price might dip to $3.5 in the next 24 hours.
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