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

Summary
• Price tested key resistance near 0.0241 before consolidating.
• Momentum indicators suggest a potential near-term pause in upward movement.
• Volatility expanded sharply overnight, with volume aligning with price highs.
• A bullish engulfing pattern formed at 0.024 on the 5-minute chart.
• Bollinger Bands indicate a recent narrowing, hinting at possible breakout.

Coin98/Tether (C98USDT) opened at 0.0236 on 2026-01-03 12:00 ET, reached a high of 0.0246, a low of 0.0234, and closed at 0.0241 as of 2026-01-04 12:00 ET. Total 24-hour volume was approximately 6.94 million, with notional turnover of ~169,439.4 USD.

Structure & Formations

Price action revealed a significant bullish engulfing pattern near 0.024, forming after a sharp decline. Key resistance appears to reside near 0.0241–0.0242, where the price has repeatedly found selling pressure. A potential support level forms at 0.0236, with a doji observed at that level, indicating indecision.

Moving Averages

On the 5-minute chart, the 20-period MA crossed above the 50-period MA, confirming a short-term bullish bias. Over the daily timeframe, the 50-period MA is above the 100 and 200-period MAs, maintaining a generally bullish trend.

Momentum & Overbought/Oversold Conditions

The RSI has moved into overbought territory above 65 following the recent rally, suggesting a possible near-term correction. MACD remains positive but has started to flatten, indicating weakening upward momentum.

Volatility & Volume

Bollinger Bands have widened in the last 8 hours, suggesting an increase in volatility. Volume spiked during the morning ET session as price approached 0.0246 and 0.0244, confirming bullish pressure. However, volume has since declined slightly, indicating potential exhaustion.

Fibonacci Retracements

Applying Fibonacci to the most recent 5-minute swing (0.0234 to 0.0246), price has pulled back to the 61.8% level at approximately 0.0241. This could act as a temporary support or consolidation zone. On the daily chart, the 61.8% retracement of a larger swing lies near 0.0243, aligning with recent price behavior.

In the next 24 hours, C98USDT could see a test of the 0.0241–0.0242 range for a breakout or consolidation. A break below 0.0236 would signal increased bearish risk, while a sustained move above 0.0243 could extend the current upward trend. Investors should monitor volume divergence as a key risk signal.