Coin98/Tether USDt Market Overview

• Price surged past key resistance and closed near session highs amid strong bullish momentum.
• On-balance volume and price action aligned, confirming the breakout with high turnover.
• Volatility expanded during the late session, with a 15-minute candle forming a strong bullish engulfing pattern.
• RSI entered overbought territory, suggesting a potential pullback, though not a reversal.
• Bollinger Bands show price at the upper band, indicating heightened bullish activity and tight distribution.

Coin98/Tether USDt (C98USDT) opened at 0.0473 on 2025-09-04 12:00 ET and surged to 0.0500 by the session close at 12:00 ET on 2025-09-05. The 24-hour high was 0.0500, the low 0.0468. Total volume reached 7,647,310.5 and total turnover amounted to 364,346.9 USDt. A bullish breakout and sustained momentum were confirmed by volume and price alignment.

Structure & Formations

C98USDT formed a strong bullish engulfing pattern on the 15-minute chart around 2025-09-05 04:30 ET and again at 12:00 ET, indicating renewed buyer interest. A key resistance at 0.0485 broke cleanly, with price closing at 0.0488–0.0493 in the final hours. A 38.2% Fibonacci retracement level at ~0.0488 acted as support, while 61.8% (~0.0493) became a critical breakout zone. The formation of a bullish trend continuation is evident, with the 0.0473 level showing strong support in the early session.

Moving Averages & MACD/RSI

On the 15-minute chart, price closed above the 20 and 50-period moving averages, with the 50-period MA acting as a dynamic support. MACD showed a strong positive divergence, aligning with the bullish price action. RSI hit 74 near the 24-hour high, signaling overbought conditions. On the daily chart, the 50-period MA is at 0.0480, with price closing above this level, reinforcing the bullish bias.

Bollinger Bands expanded in the final hours, with price at the upper band and volatility rising. This suggests increased bullish conviction and potential for further gains if the breakout holds.

Volume & Turnover

Volume increased significantly as price surged above 0.0485. A large-volume candle at 07:30 ET showed a jump in turnover from 80k to 215k USDt, confirming the breakout. The final 15-minute candle at 12:00 ET had the highest turnover of the session at 202.6k USDt, with price closing at 0.0488. No divergence was observed between volume and price, indicating strong participation from buyers.

Fibonacci Retracements

Fibonacci retracement levels were key in identifying the 0.0485–0.0493 range as a continuation zone for the bullish trend. The 38.2% and 61.8% levels were tested, with the latter serving as a breakout trigger. On the daily chart, the 0.0468 level was a significant swing low, with the 50–61.8% levels now acting as potential resistance and support for the next 24 hours.

Backtest Hypothesis

A potential backtesting strategy could use the 15-minute bullish engulfing pattern as a buy signal, with a stop-loss placed just below the 0.0473 support level and a take-profit at 0.0495. Given the current volatility and momentum, this setup could offer a risk-reward ratio of approximately 1:1.5. The MACD and RSI overbought levels would act as filters to avoid false breakouts, improving signal accuracy.