C98/USDT - Descending Trendline: Breakout or Another Drop?

The C98/USDT chart on the 2D timeframe shows that price is still in a medium-to-long term downtrend 📉. This is clearly visible from the major descending trendline that has continued to suppress price movement since the previous peak area. 🔻

Currently, the price is moving near the lower support zone while attempting to form a small consolidation structure close to the main trendline resistance. This area is becoming a crucial zone to determine the next market direction. ⚠️👀

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🧩 Pattern Formation

🔻 Descending Trendline / Downtrend Structure

The price continues forming:

- Lower High 📉
- Lower Low 📉

This indicates that sellers are still dominating the market structure overall. 🐻

The yellow descending trendline from previous highs continues to act as a dynamic resistance that repeatedly pushes the price downward. 🚧

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📌 Key Areas on the Chart

🟢 Support Areas:

- 0.0222 🟢
- 0.0190 🟢
- Lower trendline area 📍

If these areas hold, the possibility of a short-term reversal remains open. 🔄🚀

🔴 Resistance Areas:

- 0.0255 🔴
- 0.0314 🔴
- 0.0380 🔴
- 0.0455 🔴
- 0.0640 🔴

These are layered resistance levels that must be broken if bullish momentum starts entering the market. 📈🔥

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🚀 Bullish Scenario

✅ Bullish Confirmation:

If the price manages to:

- Break out of the descending trendline 📈
- Close strongly above 0.0255 🔥
- Be supported by increasing volume 📊

Then the upside potential toward:

- 0.0314 🎯
- 0.0380 🎯
- even 0.0455 🚀

becomes significantly stronger.

A breakout above the trendline would become an early signal that bearish pressure is weakening and the market could enter a reversal phase or at least a relief rally. 💥

📈 Bullish Targets:

- TP1 → 0.0255 🎯
- TP2 → 0.0314 🎯
- TP3 → 0.0380 🚀
- TP4 → 0.0455 🔥

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🐻 Bearish Scenario

❌ Bearish Confirmation:

If the price fails to break the trendline and gets rejected again at resistance, then:

- the downtrend remains valid 📉
- sellers may regain market control 🐻

A breakdown below the 0.0222 support area could trigger a deeper decline toward:

- 0.0190 ⚠️
- or even new lows 📛

As long as the price remains below the major descending trendline, the overall market structure is still bearish. 🔻

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🧠 Conclusion

C98 is currently at a critical decision zone after a prolonged decline. The price is approaching the main trendline resistance, which could become the starting point of a major breakout if strong volume enters the market. 📊🚀

However, as long as a valid breakout has not occurred, the overall structure still leans bearish, and traders should remain cautious of fake breakouts or strong rejections around resistance levels. ⚠️📉

This area is very interesting to watch because it could become either the beginning of a major reversal or the continuation of the ongoing downtrend. 👀🔥

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