Coin98 (C98) drops back to potential buying zone, what are the opportunities for 2025?

The price of the Ninety Eight token or Coin98 (C98) - a crypto project founded and developed by Vietnamese people - has just gone through an unfavorable start to 2025, with a decline of more than 20%. However, from 2025 onwards, the story of Coin98 or Vietnamese crypto projects in general may be told differently. The following are evaluations from BeInCrypto on the C98 price and the new mindset of Vietnamese investors in the context of the government taking steps closer to crypto. Also Read: Investing $500 million to build a "Make in Vietnam" Layer 1 blockchain Coin98 (C98) drops back to last year's accumulation zone, opening up new buying opportunities for 2025 At the end of last year, the C98 price had risen above the accumulation zone and reached $0.28. This sparked hope of "reaching the shore" for many C98 holders. However, in the last two weeks of December, the C98 price fell back to the accumulation zone, completely erasing the gains of the recovery. This indicates that a portion of short-term traders have taken profits, as they did not have higher expectations. Technical analysis: - The $0.28 high of last year's recovery corresponds to the Fibonacci 0.5 level (as shown in the image). In January 2025, C98 continued to face resistance at $0.18, corresponding to the Fibonacci 0.236 level. This will continue to be a resistance for C98 in Q1 2025. - The accumulation zone for C98 is between $0.10 and $0.145. In the past week, when the price dropped to $0.145, there was a recovery, although not significant. The trading volume in recent days has shown an upward trend as C98 has dropped to the accumulation zone, reflecting a positive sentiment for buying back. The latest price reactions, as mentioned above, are suggesting an opportunity to buy back C98 in the early part of 2025, from $0.145 and below. Reasons to have positive expectations for the C98 price in 2025 There are a few reasons why C98 investors can have positive expectations for the price of this token. 1. The co-founder of C98 revealed that they are building an AI Agent feature for the wallet application. Recently, the Coin98 wallet has been integrated into the Telegram app to reach more users. With the AI Agent, this trend can create an attractive sentiment for new investors. 2. The a16zCrypto report in December last year also listed the Coin98 Wallet as one of the projects to watch in 2025, under the "AI Agent that manage wallets" category. This reflects the fund's expectations and vision for the project. 3. The project is cooperating well with government agencies in building the blockchain ecosystem in Vietnam. Specifically, Nguyen The Vinh, the co-founder/CEO of Ninety Eight, is the chairman of the Blockchain Association of Ho Chi Minh City on the National Blockchain Strategy. 4. The sentiment of new investors towards blockchain projects may improve in 2025, as the General Secretary Tô Lâm has recently assigned the task of building a "Make in Vietnam" Layer 1 blockchain network. However, at the time of writing, the C98 price is still trading at a nearly 98% decline from its all-time high when it first listed in 2021. Join the BeInCrypto community on Telegram to stay updated on the latest analyses and news about the financial markets in general and cryptocurrencies in particular.