Technical analysis by alizeynali69 about Symbol C98: Buy recommendation (1/3/2025)

💎 C98/USDT Technical Analysis🔍 OverviewC98 remains in a long-term downtrend, but there are signs of a potential reversal at key levels. Given its low market cap, it is categorized as a high-risk asset. Therefore, risk management is crucial in this analysis.🛠 Key Price Zones🔴 Daily Support Zone (Red):Range: $0.1429 - $0.1558This is the first major support level where the price has paused. A decline in selling volume indicates reduced selling pressure in this area.⚫ Weekly Support Zone (Gray):Range: $0.0902 - $0.1128If the red zone fails, this level could act as the next support.🟢 PRZ (Key Resistance Zone):This area combines the weekly resistance and the upper boundary of the descending channel. A breakout above this resistance could signal further bullish momentum.🎯 Suggested Price Targets (TP):1️⃣ Fibonacci 1.272: $0.5885 - $0.69162️⃣ Fibonacci 1.618: $0.9670 - $1.19423️⃣ Fibonacci 2.272: $2.1402 - $2.5903📉 Risk Management (Stop Loss):Recommended Stop Loss: Below the weekly support zone (Gray), i.e., below $0.0902.🔔 Confirmation Signals for Entry1️⃣ Volume Increase:A surge in volume near resistance levels, especially during a breakout, could indicate the beginning of a bullish trend.2️⃣ RSI Indicator:RSI entering the Overbought Zone may signal strong buying momentum.💡 Proposed Trading StrategyEntry Points:1️⃣ First Entry: In the red zone ($0.1429 - $0.1558).2️⃣ Second Entry: In the gray zone ($0.0902 - $0.1128) if the first support is breached.Profit-Taking Strategy (Scaling Out):1️⃣ First Target: $0.58852️⃣ Second Target: $0.96703️⃣ Third Target: $2.1402Capital Allocation:Allocate only 2-5% of your total capital to this trade.Ensure you set up a Stop Loss to mitigate risks.🌍 Market SentimentGiven the current market conditions and low trading volumes, it’s essential to adopt a conservative risk approach. Improved market sentiment could accelerate price recovery.✨ Final ThoughtsC98 is currently positioned in a critical zone. Entering a trade should be accompanied by meticulous risk management. A breakout of the key resistance levels could lead to significant upside potential.Avoid hasty decisions, and always consider additional analyses before acting.🔗 Investment Disclaimer:This analysis is for educational purposes only. The final responsibility for any investment decisions rests with you.