Market Overview for Coin98/Tether (C98USDT) – 24-Hour Analysis

• Price rose from 0.0375 to 0.0386, before consolidating near 0.0375 at close.
• Volatility surged mid-day, with 0.0386 acting as a short-term ceiling.
• Volume surged in early evening (ET), followed by sharp pullback.
• RSI-14 and MACD indicate potential short-term overbought conditions.
• Bollinger Bands show narrowing volatility before 12:00 ET.

Overview and Key Metrics

Coin98/Tether (C98USDT) opened at 0.0377 on 2025-10-27 at 12:00 ET and reached an intraday high of 0.0386 before closing at 0.0375 at 12:00 ET the following day. During the 24-hour period, total volume traded amounted to approximately 14,235,566.9 units, with a notional turnover of roughly $525,275.40 based on the average price. Price action shows a distinct morning rally, followed by a consolidation phase and a late-night dip.

Structure & Formations

Price action reveals a key support at 0.0375, which was tested and held three times in the last four hours of the session. A small bearish engulfing pattern formed at 2025-10-27 22:45 ET (0.0377 to 0.0371), signaling potential bearish momentum. No clear bullish patterns emerged during the session, but doji at 0.0375 in the late-night hours suggest indecision. Key resistance remains at 0.0381–0.0386, with a failed breakout at 0.0386 observed.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed below key support levels in the last few hours, supporting the bearish bias. Daily moving averages show a longer-term upward trend, with the 50-period and 100-period lines converging near 0.0376–0.0377, suggesting a potential pivot point for near-term action.

MACD & RSI

The RSI-14 moved into overbought territory (above 65) mid-day, but pulled back sharply to mid-50s by the close, indicating bearish momentum. The MACD crossed below the signal line in the late hours of the session, confirming a bearish crossover. Both indicators suggest that the recent rally may be exhausting, and that a short-term pullback is likely. The RSI-14 appears to be in a transition phase from overbought to balanced territory.

Bollinger Bands

Bollinger Bands showed a clear widening during the morning hours as the price surged toward 0.0386, reaching the upper band at one point. However, the bands began to contract again as the price declined in the evening. At the close, price was near the lower band (0.0375), suggesting potential oversold conditions. The volatility contraction may indicate a potential breakout or continuation move.

Volume & Turnover

Volume spiked sharply in the late afternoon (ET) during the price rally, with a 15-minute bar at 18:15 ET registering 352,527.0 units traded. This was followed by a significant pullback in price with a proportional drop in volume. Turnover mirrored this, with the largest notional turnover occurring in the 19:30–20:30 ET window. A divergence between rising volume and falling price suggests bearish conviction, particularly as price failed to hold above 0.0381 after a morning rally.

Fibonacci Retracements

Applying Fibonacci levels to the recent 15-minute swing from 0.0375 to 0.0386, the key levels for retracement include 38.2% at ~0.0381 and 61.8% at ~0.0378. The price spent the late hours consolidating near the 61.8% level, which may offer a temporary floor. Daily Fibonacci levels from a major swing show support at 0.0375–0.0376, which aligns with recent consolidation.

Backtest Hypothesis

The RSI-14 indicator, when applied to this pair, offers a potential entry and exit strategy for short-term traders. A backtest using a 14-period RSI with an oversold threshold of 30 and a re-entry threshold above 30 could be used to capture potential rebounds from consolidation levels like 0.0375–0.0376. Given the recent drop in RSI below 50 and the bearish crossover in MACD, the next 24 hours could provide a test of whether 0.0375 holds and whether the RSI-based strategy would trigger a buy signal.