Long-Term Strategy for C98
1. Current Price Context
As of now, C98 is trading around $0.07.
The price has reached historical lows, touching around $0.057 recently, indicating we are near or within a long-term accumulation zone.
2. Multi-Timeframe Analysis
Monthly timeframe: C98 is still in a macro downtrend but seems to be stabilizing near its all-time lows. Watch for any sign of bottoming structure such as double bottom, or Wyckoff Accumulation phases (Spring, SOS).
Weekly timeframe: Price is trading below EMA 200W and EMA 50W, so the asset is still under bearish pressure. However, RSI on the weekly is near or below 30, suggesting potential for bullish divergence.
Daily timeframe: Use this for refining entries. Look for short-term breakouts from falling wedge or descending channel patterns.
3. Support & Resistance Zones
Major support zone:
$0.05 - $0.06: This is a historically significant demand zone where price previously found buyers (recent low ~$0.057).
Resistance zones:
$0.10 - $0.12: Former support turned resistance and in confluence with prior swing highs.
Further resistance at $0.18 - $0.20, where EMA 200D could act as a dynamic resistance.
4. Recommended Strategy
Primary plan:
DCA (Dollar Cost Averaging): Gradually accumulate C98 in the $0.05 - $0.07 range. This is a high-probability accumulation area based on multi-timeframe supports.
Swing trades: If price breaks above $0.10 with strong volume, consider swing trades targeting $0.12 and $0.18 zones.
Indicators to watch:
RSI: Weekly RSI is near oversold levels (<30). Watch for bullish divergence on daily or weekly charts.
MACD: A bullish crossover on the daily or weekly MACD would be a strong confirmation for accumulation.
EMA 50/200D cross: A Golden Cross on the daily chart would be a medium-term bullish signal.
5. Capital Allocation
70% capital: Gradual accumulation at $0.05 - $0.07 for long-term holding.
30% capital: Reserved for breakout trades or additional DCA on deeper dips.
6. Risk Management
Stoploss: Set stoploss under $0.045, as a break below this level could signal further downside.
Take-Profit Levels:
First TP around $0.10 - $0.12
Second TP at $0.18 - $0.20
Higher targets depending on market cycle conditions.
7. Macro Environment Consideration
C98 is highly correlated with Bitcoin and overall crypto sentiment. Larger positions should be taken when Bitcoin confirms a bullish trend (e.g., above its 200-week MA).
