Market Overview for Coin98/Tether USDt (C98USDT) — 2025-09-10 12:00 ET

• Price surged from $0.0487 to $0.0506 with strong momentum in the final 4 hours.
• Volume spiked 3x above average as price approached resistance at $0.0502–$0.0506.
• RSI and MACD signaled overbought conditions near the session high, indicating potential pullback.
• Bollinger Bands showed a sharp expansion, reflecting heightened volatility.
• Fibonacci levels at $0.0494 and $0.0503 marked key support and resistance during the rally.

The C98USDT pair opened at $0.0487 on September 9, 2025 at 12:00 ET and reached a high of $0.0506 before closing at $0.0494 as of 12:00 ET on September 10. The low for the period was $0.0482. Total volume was 11,313,817.9 and total turnover was $549,206.6.

Structure & Formations

The 24-hour chart for C98USDT showed a bullish breakout pattern, with price consolidating in a narrow range until late in the session. Key support levels were identified at $0.0482 and $0.0494, both of which held during pullbacks. Resistance levels at $0.0502 and $0.0506 were tested multiple times, with the final 2-hour window seeing a test of $0.0506 followed by a pullback. A bearish engulfing pattern emerged around the 04:30–06:30 ET time frame, signaling potential short-term exhaustion in the upward move.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages (20/50 MA) showed a bullish crossover in the early part of the session before diverging as price pushed higher. The 50-period MA remained below the 100-period and 200-period MAs on the daily timeframe, indicating a potential continuation of the bullish trend, though with caution required at higher levels.

MACD & RSI

The MACD line turned negative after a strong positive run, suggesting that the momentum may be slowing. The RSI approached overbought territory (above 70) at the session high, reinforcing the idea that a pullback could be imminent. On the 15-minute chart, RSI oscillated between 50 and 70, reflecting strong bullish pressure, but failed to maintain momentum above key psychological levels.

Bollinger Bands

Bollinger Bands expanded significantly in the final hours of the session, indicating rising volatility. Price remained within the upper and lower bands, avoiding a breakout. However, the sharp movement toward the upper band in the last 3 hours suggests that volatility may persist in the near term.

Volume & Turnover

Volume saw a sharp spike in the final 4 hours, particularly during the 09:00–11:00 ET window, coinciding with the move toward $0.0502–$0.0506. Notional turnover increased by over 300% compared to the prior 4 hours, reinforcing the strength of the bullish move. However, a divergence appeared between price and volume in the last hour, as volume declined while price held near $0.0506, suggesting a potential reversal in the near term.

Fibonacci Retracements

Fibonacci retracement levels were applied to the major swing from $0.0482 to $0.0506, with the 38.2% level at $0.0494 acting as a key support. The 61.8% level at $0.0503 coincided with a strong resistance cluster, where price stalled twice in the last 4 hours. These levels suggest that any pullback may find support near $0.0494, while a break above $0.0506 could extend the upward trend.

Backtest Hypothesis

A potential backtest strategy could involve entering a long position when price breaks above the 61.8% Fibonacci level ($0.0503) on the 15-minute chart, with a stop-loss placed just below the 38.2% level ($0.0494). A target for the first profit could be set at the 78.6% level or $0.0506. This approach would aim to capture the continuation of the bullish trend while managing risk with a defined stop. The strategy would align with the observed momentum signals and volume confirmation, but requires caution as the RSI and MACD suggest potential overbought conditions.