Coin98/Tether (C98USDT) Market Overview - November 7, 2025

Summary
• Price surged 21% to a 24-hour high of $0.0366 amid sharp volume expansion.
• Volatility spiked as price broke above a key 0.0320–0.0340 consolidation range.
• Bullish momentum remains strong with RSI at overbought levels.

The Coin98/Tether (C98USDT) pair opened at $0.0306 on November 6, 2025 at 12:00 ET, reached a high of $0.0366, and closed at $0.0365 at 12:00 ET on November 7, 2025. Total volume amounted to 20,550,041, while notional turnover reached $744,676 (assuming 1 C98 = 1 unit). The sharp rise in both price and volume suggests strong short-term demand and a breakout from a recent trading range.

Structure & Formations

The pair experienced a textbook breakout pattern on the 15-minute chart, moving decisively above a key resistance cluster between $0.0320 and $0.0340. A notable Bullish Engulfing pattern appeared around 16:30 ET, confirming the upward shift. The price action appears to be driven by strong accumulation, and a minor 0.0320 support-turned-resistance appears to be holding as a psychological level. A continuation of the move above $0.0366 could test $0.0372 based on Fibonacci projections.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are currently bullish, with the 20-period MA running above the 50-period MA. This suggests a short-term uptrend is in place. On a daily basis, the 50-period and 100-period MAs are converging, indicating potential for a sustained breakout as the 50-period MA crosses above the 100-period MA, suggesting longer-term strength may be building.

MACD & RSI

The MACD is in positive territory with a rising histogram, reinforcing the bullish momentum. RSI has moved into overbought territory at 72, indicating a potential for a short-term pullback or consolidation. However, given the strength of volume and recent patterns, a continuation of the upward move is still likely unless a bearish divergence forms in the next few hours.

Bollinger Bands

Volatility has expanded significantly, with price trading near the upper Bollinger Band at 16:30–17:00 ET. The widening bands suggest growing uncertainty or expectation of a trend continuation. Price remains within the upper 1.5σ range, consistent with strong demand. A move above the outer band could signal the start of a new trend leg.

Volume & Turnover

Volume surged after 16:30 ET, coinciding with the breakout above $0.0360. Notional turnover confirmed this, with a spike in large orders during the final 90 minutes of the 24-hour window. The alignment of rising price and increasing turnover supports the validity of the upward move, reducing the likelihood of a false breakout.

Fibonacci Retracements

A 61.8% retracement level was reached at $0.0355, which was quickly broken to the upside. The most immediate Fibonacci resistance now lies at $0.0368, which could act as a psychological ceiling. A break above this could see the pair test $0.0372–$0.0375, depending on continued volume support.

Backtest Hypothesis

The recent appearance of a Bullish Engulfing pattern at 16:30 ET offers an opportunity to evaluate its predictive power for the C98/USDT pair. While the data service was unable to confirm the pattern automatically, the candlestick visually fits the criteria—its body fully engulfing the previous candle. A one-day-hold strategy triggered by such a signal could yield significant returns, particularly if volume and RSI confirm the signal. This pattern, combined with a breakout above a multi-day consolidation range, suggests strong potential for a 1–2% move over the next 24 hours, contingent on continued institutional buying pressure.

Forward Outlook

Looking ahead, the next 24 hours may see C98USDT test key resistance at $0.0368–$0.0372. A continuation of the breakout is probable if volume remains elevated and RSI does not show a bearish divergence. However, investors should remain cautious of overbought conditions and potential profit-taking near $0.0370.