$C98 / USDT – Testing Support After Recent High – Next Direction? 🤔

$C98 / USDT is currently trading at $0.0585, down slightly by -1.18% today. Looking at the 4-hour chart, we can see a recent push towards the $0.0609 high, followed by a pullback to the current level, which is near the 24-hour low of $0.0575.

🧐 Potential Trading Scenarios:

* Support Level: The $0.0575 - $0.0580 zone appears to be acting as immediate support. Watch if this level holds.

* Retracement Depth: The current pullback is testing the strength of the recent bullish move.

* Potential Consolidation: We might see a period of consolidation around this level before the next significant move.

📈 Potential Long Entry (If Support Holds): Consider entering around the $0.0580 level with a stop loss placed just below $0.0570. Initial targets could be the previous swing highs around $0.0600 and then $0.0609.

📉 Potential Short Entry (If Support Breaks): If the $0.0575 level fails to hold, a short entry targeting lower support levels (e.g., around $0.0560 or lower) could be considered.

⚠️ Outlook:

$C98 / USDT has seen a recent upward move and is now experiencing a pullback to a key support area. The price action around this level will be crucial in determining the short-term direction. Monitor volume and candlestick patterns for confirmation. Always practice sound risk management.

C98USDT ·

0.0585 -0.0004 (-0.68%) (based on the last 4 hours)

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