Market Overview for Coin98 (C98USDT): 24-Hour Analysis

• Coin98 formed a bullish engulfing pattern at the 24-hour low near $0.0486, signaling potential short-term reversal.
• Price retested a key support zone between $0.0492–$0.0497 multiple times, consolidating before a late rally.
• Volatility surged during the final 6 hours, with a 15-minute candle reaching a high of $0.0515—the session’s peak.
• RSI moved into overbought territory during the afternoon, suggesting a possible pullback in the near term.
• High volume confirmed the late-day rally, but divergence in turnover hints at potential exhaustion.

Market Overview

Coin98 (C98USDT) opened the 24-hour period at $0.0499, traded between $0.0483 and $0.0515, and closed at $0.0513. Total volume reached 615,265.4, with a notional turnover of approximately $30,250. The price action reveals a strong late-day rally after a prolonged period of consolidation and downward drift.

Structure & Formations

On the 15-minute chart, Coin98 formed a bullish engulfing pattern near the session low at $0.0486, followed by a consolidation phase between $0.0492 and $0.0497. This support zone was tested multiple times over the 24 hours, with the final tests confirming a breakout toward the afternoon highs. A significant bullish reversal appears to have occurred as the price broke above a descending trendline and a horizontal resistance at $0.0505.

Moving Averages

The 20 and 50-period moving averages on the 15-minute chart were in close proximity throughout the session, with the price crossing above both during the late afternoon surge. On the daily chart, the 50, 100, and 200-period moving averages are aligned in a bullish configuration, suggesting that the short-term and medium-term trends remain positive.

MACD & RSI

The MACD showed a strong positive crossover during the afternoon rally, with the histogram expanding as momentum increased. RSI reached overbought territory (above 70) after the $0.0515 high, indicating potential for a short-term pullback. However, RSI remains above 50, suggesting bullish momentum is still intact for the next 24–48 hours.

Bollinger Bands

Volatility increased significantly in the latter half of the 24-hour period, pushing the price above the upper Bollinger Band for a brief period at $0.0515. This suggests a breakout from a period of range-bound trading and may signal the beginning of a more defined trend. Price has spent most of the session near the lower band, but the late surge has widened the bands, indicating rising volatility.

Volume & Turnover

Volume surged during the late-day rally, particularly between 11:00–12:00 ET, with one 15-minute candle printing over 311,000 volume units. Turnover also spiked during this period, confirming the bullish breakout. However, there was a slight divergence in the final hour, as volume dipped while price held above $0.0510, suggesting potential exhaustion or a pause in the rally.

Fibonacci Retracements

Applying Fibonacci levels to the recent low at $0.0483 and high at $0.0515, the current price of $0.0513 is sitting near the 61.8% retracement level. This suggests the price is approaching a critical decision point. A close above the $0.0515 high would confirm a bullish extension, while a rejection below $0.0505 could bring back the 38.2% level at $0.0507 into focus.

Looking ahead, the next 24 hours could see a continuation of the rally if the $0.0515 level is tested and confirmed by follow-through volume. However, investors should remain cautious of potential overbought conditions and a possible short-term pullback into the $0.0502–$0.0507 consolidation range.