Market Overview for Coin98/Tether (C98USDT) – 2025-09-24

• Price of C98USDT surged from 0.0472 to 0.0507 on a large volume spike near the close.
• RSI hit overbought levels post-breakout, while MACD showed bullish divergence.
• Volatility expanded significantly as Bollinger Bands widened and price gapped up.
• A bullish engulfing pattern emerged at the session high with strong follow-through volume.
• Turnover surged over $400,000 on the final 15-minute candle, indicating strong conviction.

Coin98/Tether (C98USDT) opened at 0.0472 on 2025-09-23 at 12:00 ET, surged to 0.0507, and closed at 0.0501 at 12:00 ET on 2025-09-24. Total volume for the 24-hour period was 39,831,491.3 units, with a notional turnover of $1,592,112. A sharp price and volume divergence occurred in the final hour of the session.

Structure & Formations

The 15-minute chart showed a critical resistance level forming at 0.0474–0.0475, which Coin98 tested multiple times before breaking decisively above it in the last 90 minutes. A bullish engulfing pattern formed on the 2025-09-24 11:00–11:15 candle, with a close of 0.0501, signaling strong short-term buying pressure. A potential support level emerged at 0.0482–0.0483, where the price found a temporary floor after earlier volatility. A series of smaller doji and hanging man patterns near the 0.0466–0.0469 level suggested indecision and potential bearish reversal if broken below.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart were bullish, with the price above both, indicating strong momentum. The daily chart showed the 50-period MA at 0.0473 and the 200-period MA at 0.0471, with the current price comfortably above both, reinforcing an upward trend. No significant crossovers occurred during the session, but the price remained well above key moving averages, maintaining a bullish bias.

MACD & RSI

The MACD line crossed above the signal line at the end of the session, confirming bullish momentum. The RSI peaked at 78 during the final hour, indicating overbought conditions but with strong volume confirmation, suggesting continued upward movement is likely. A bearish divergence was not present, and the RSI has not yet shown signs of exhaustion.

Backtest Hypothesis

A potential backtesting strategy could focus on the bullish engulfing pattern at 0.0501, combined with RSI entering overbought territory. A buy entry at the close of the engulfing candle with a stop-loss below the 0.0496 level and a take-profit target at 0.0510 could be tested. This strategy leverages both confirmation from price structure and momentum indicators, aligning with the technical setup described above.

Bollinger Bands

Bollinger Bands showed a clear volatility expansion during the final hour of the session, as the price surged toward the upper band and broke out. The lower band remained around 0.0482–0.0483, which acted as a temporary support. Price staying near the upper band suggests strong bullish sentiment, and a retracement toward the middle band could present a continuation opportunity if buying pressure remains.

Volume & Turnover

Volume surged sharply during the final hour, with the largest 15-minute candle (11:00–11:15) showing a turnover of $405,522 on 8,089,678 units traded. This aligns with the bullish engulfing pattern and confirms the strength of the breakout. No significant divergence between price and volume was observed during the session, reinforcing the validity of the move.

Fibonacci Retracements

Applying Fibonacci retracement levels to the swing from 0.0461 to 0.0507, the 38.2% and 61.8% levels are at approximately 0.0481 and 0.0493, respectively. The price is currently above both, indicating a strong continuation of the bullish trend. A pullback to 0.0493 could offer a high-probability entry for further upside, especially if volume remains supportive.

C98USDT appears to be in a strong short-term bullish trend with key support and resistance levels clearly defined. Investors should watch for a pullback to the 0.0493–0.0496 zone for potential continuation setups, but remain cautious of a breakdown below 0.0482, which could trigger a deeper correction. As always, market conditions may shift quickly, so proper risk management remains essential.