Coin98 (C98) is a utility token for the Coin98 ecosystem, an all-in-one platform integrating multiple blockchain services.
The coin is heading for a potential breakout with good volume. This crypto looks goods for short-term buy.
In this article, we will analyze the current price of C98, its weekly performance, its future outlook, and some of the latest news affecting the coin.
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c98 Price Prediction
C98 is trading at $0.38106 , with a market cap of $272.25M and a 24-hour trading volume of $22.75M . C98 is down by 0.25% in the last 24 hours and up by 58.1% in the last 30 days. It has a circulating supply of 714.44M C98 and a total supply of 1B C98.
Major breakout of the S/R zone.
- The launch of Coin98 Wallet version 10.0, which supports over 40 blockchains and integrates with multiple DeFi protocols.
- The integration of Coin98 Exchange with Polygon.
- The announcement of Coin98 Ventures, a $5M fund to support early-stage projects in the Coin98 ecosystem.
- The partnership with ConstitutionDAO, a decentralized organization that aims to buy and digitize the US Constitution, to provide liquidity and governance support.
Weekly Price Analysis
The weekly chart of C98 shows that the coin has been in an uptrend since the beginning of February 2024, after breaking out of a consolidation phase. The coin has formed higher highs and higher lows, indicating a strong bullish momentum. The coin has also been trading above the 20-day and 50-day moving averages, which act as dynamic support levels.
The coin faced some resistance around the $0.4 USD level, which coincides with the 61.8% Fibonacci retracement level of the previous downtrend from the all-time high to the low of $0.14 USD in December 2023. The coin has been consolidating below this level for the past few days, forming a symmetrical triangle pattern. This pattern suggests that the coin is preparing for a breakout in either direction, depending on the market conditions.
The coin may face some selling pressure at the $0.43 USD level, which is the 78.6% Fibonacci retracement level and the upper boundary of the triangle. If the coin can break above this level, it may target the next resistance at the $0.5 USD level, which is the psychological round number and the 100% Fibonacci extension level of the previous uptrend.
On the other hand, the coin may find some buying interest at the $0.35 USD level, which is the 50% Fibonacci retracement level and the lower boundary of the triangle. If the coin can bounce off this level, it may resume its uptrend. However, if the coin breaks below this level, it may trigger a bearish reversal and test the next support at the $0.3 USD level, which is the 38.2% Fibonacci retracement level and the 20-day moving average.
Future Outlook
The future outlook of C98 depends on the development and innovation of the Coin98 platform, the adoption and growth of the Coin98 ecosystem, the competition from other similar projects, and the regulatory environment.
Some of the factors that may positively affect the future of C98 are:
- The expansion of the Coin98 platform to support more blockchains and DeFi protocols, providing users with more choices and opportunities.
- The launch of new products and features, such as a launchpad, a lending and borrowing platform, a megafarm, a derivatives market, and an NFT marketplace, enhancing the utility and value of the C98 token.
- The investment and incubation of early-stage projects in the Coin98 ecosystem, creating a network effect and fostering innovation and collaboration.
- The partnership and integration with other leading projects and platforms, such as ConstitutionDAO, Aave, Solana, and Binance, increasing the exposure and credibility of Coin98.
Some of the factors that may negatively affect the future of C98 are:
- The volatility and uncertainty of the crypto market, which may cause price fluctuations and corrections.
- The competition and innovation from other similar projects and platforms, which may offer better services and solutions.
- The regulatory and legal risks, which may limit or restrict the operations and activities of Coin98 and its users.
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