CNE is Losing Momentum
Coin 98 (CNE) has added 1.0% to reach $0.2320 this week. The increase was even more pronounced on Tuesday, with the altcoin adding 7.0% to reach $0.2454, marking its highest point in the last 10 days. Despite this recent positive movement, the altcoin has encountered challenges, dropping to the $0.2000 support level three times since the start of January, with subsequent strong recoveries. However, the latest recovery, occurring during the week ending on January 30, saw only a 20% improvement, and this recovery has diminished to 12% by the current moment. This trend might be signaling bearish sentiment for the altcoin.
CNE is currently near the support of the uptrend at $0.2150, which could act as a stabilizing force against potential downward pressure toward $0.2000. Nevertheless, the altcoin appears to be weakening without any apparent fundamental reasons supporting it. If the broader sentiment in the crypto market deteriorates, CNE may face the risk of a swift decline below $0.2000.
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