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Coin98 Price Analysis: C98 below resistance at $3.96, set to breach?

coin price analysis

TL;DR Breakdown

  • Coin98 price analysis can be considered bullish for today.
  • The cryptocurrency has found support at $3.85 and a strong one at $3.69.
  • The nearest resistance is present at $3.96, while a strong resistance at $4.1 is recorded.

Coin98 has attracted a lot of investors as in the recent bullish market growth, Coin98’s performance ranks one of the best. At the same time, the Coin98 price movement for today is more on the bullish side. Bitcoin is testing the strong resistance above the $48.3K level. If the market is able to maintain this stature, we can expect new all-time highs soon.

Coin98 price analysis reveals that the nearest resistance for cryptocurrency is present at the $3.96 price level. The coin’s current price is $3.88, which is just above the support at $3.69. If the current support doesn’t hold, we can expect a price retracement towards the 3.04 USD price level, an area of major support.

Coin98 performance in recent days

C98/USDT has performed incredibly well in recent days, with the coin rising by 11.8% on 29th September and 7.57% on 30th September. On 2nd October, the price of C98/USDT surged by 10.95%. Currently, coin is up by 3.66%. The data from Coinmarketcap shows that the trading volume for the currency is down by 25.41%, while the market cap is down by 0.83%.

The daily highest price today was at $3.984, while the lowest price was $3.561. The week ending on 20th September was quite bearish for Coin98 as the cryptocurrency’s price fell down by 24.91%. Although, the coin surged by almost 30.24% by the end of last week.

Coin98 price analysis: Readings on technical indicators

The C98/USDT price broke out from the upper end of the Bollinger Bands as we saw 3 consecutive green candles on the 4-hour chart. After that, the price action is in the upper region, suggesting that the bulls are still in charge.

The Coin98 price analysis also shows that the Coin98 price is currently above the 50-day and the 100-day Moving Average as well. This means that the momentum on the 4-hour chart is bullish.

Coin98 Price Analysis: C98 below resistance at $3.96, set to breach? 1
Coin98 price analysis on the 4-hour chart by TradingView

In the 4-hour price chart for C98/USDT price below, we are witnessing the readings from two indicators, the RSI and the MACD indicators. The RSI indicator has been above the 60-level for most of the time. This shows that buying pressure is winning over the selling pressure.

The MACD indicator shows that the MACD or the blue line is below the signal line, i.e., the line with orange color. This signifies a bearish trend in the short term but, we can also see that the blue line is closing the gap and trying to cross above the signal line. If the MACD successfully captures its position above the blue line, we will see a bullish divergence.

Coin98 price analysis
Coin98 price analysis on the 4-hour chart by TradingView

Coin98 price analysis: Conclusion

Our conclusion of the Coin98 price analysis states that the price movement for C98 will be bullish for today as Bitcoin maintains the price level at $48k. Hence, we can expect a price rally and new all-time highs quite soon.

Coin98 wallets have seen a lot of updates and integrations recently that have contributed to its fabulous run. First comes the integration of C98 wallets with WeStarter that enables a multitude of users to access great features of multi-chain wallets. One can also use the 1inch DEX Aggregator with the C98 Wallet.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Richard Adrian

Richard Adrian

Richard is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates him, he finds the intersection of both technology and finance mind-blowing. The firm belief that fintech will drive the future has brought him to the crossroads of Fintech discoveries and transmission of immutable data to a wider audience - Cryptopolitan.

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