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C98/USD set to surpass the intraday high of $4.6

Cryptopolitan


TL;DR Breakdown

  • Towards the closure of yesterday’s Coin98 Price analysis chart, the price traded moderately. 
  • The general view of the virtual currency market is bearish. 
  • The largest digital asset Bitcoin continues to dip.

Coin98 price analysis: Overall general price movement

Towards the closure of yesterday’s Coin98 Price analysis chart, the price traded moderately. Bulls saw there is a gap in the market. Therefore they came in more robust. The bull pressure was so tremendous for the bears to cause resistance. For the first 15 minutes, buyers controlled the market, sending the prices to an intraday high of $4.6, where it faced solid resistance from the angry bears. The price dropped to intraday lows of $4.5, forming several inverted triangles.

During the opening of the 24-hours price analysis chart, the Bollinger bands were narrow, suggesting a low volatile market. The Bollinger bands are becoming widespread in the one-hour price analysis chart, meaning the Coin98 is becoming more volatile. The coin price seems to be pointing towards the upper band, signaling a buying pressure as per Coin98 price analysis.

Most parts of the cryptocurrency heat map bleed. The general view of the virtual currency market is bearish. 

Source: Coin360

The largest digital asset Bitcoin continues to dip. Bitcoin has recorded a drop of more than -3 percent from yesterday’s price, and it is trading at $46K. The second-largest digital asset ETH trades in a promising trend since yesterday. Ethereal is trading at $3.2K, a 0.7 percent increment compared to yesterday’s price.

Most of the altcoins are trading in bearish trends. The Binance coin is trading at $359, which is a 3 percent decline. Since yesterday, FTM has been leading the cryptocurrency gainers list. However, the percentage gains have been dropping since then, and currently, it has a 25 percent price increase. At the time of writing Coin98 price analysis shows that Coin98 is trading in a positive trend with gains of 1 percent.

Coin98 price movement in the last 24 hours: Worrying trend unfolds

C98/USD traded in a range of $4.5 – $4.7, indicating low volatility over the last 24 hours. C98/USD Trading volume totals $241.5 million, while the total market capitalization trades around $881 million. C98 overall rank is #214.

C98/USD 4-hour chart: Indicators suggest a bull run

Coin98 price analysis: C98/USD set to surpass intraday high of $4.6 2

Source: TradingView

At the time of writing, the RSI is leaning on the 50 mark and seems to be going towards the overbought region. This suggests that buyers are almost taking control of the market to cause a price surge.

The MACD line seems to be crossing over the red line. This shows that the buyers are almost outnumbering the surrendering sellers. If buyers’ pressure overdoes the selling pressure, C98/USD might record a significant surge.

1- hour C98/USD price analysis chart: Bullish trend is back

On the 1-hour price analysis chart, the buyers seem to have outnumbered the mighty bears and are set to surpass the intraday high of $4.6. The balance of power indicator is at -1, meaning buyers are more robust than the sellers. This suggests that the market will continue being bullish if the buying pressure continues.

Coin98 price analysis: C98/USD set to surpass intraday high of $4.6 3

Source: Tradingview

Coin98 Price analysis: Conclusion

In the early trading hours, the bears were in control of the market. However, in the last one hour, the market has been bullish. If the buying pressure persists there is a likelihood of the coin surpassing its intraday high.

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.



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