Market Overview for Coin98/Tether (C98USDT) on 2025-10-12

• C98USDT traded in a consolidating range between 0.0342–0.0386, with a closing decline to 0.0384 after an initial bearish trend.
• Volatility increased sharply during the last 3 hours with a 4.5% rebound, suggesting renewed buying interest.
• RSI entered overbought territory near 70, while MACD showed bearish divergence during price highs.
• Volume spiked to over 1.5M during the final 24-hour candle, but price failed to confirm a breakout above 0.0383.
• Key support at 0.0365 and resistance at 0.0383 are critical for near-term direction.

Coin98/Tether (C98USDT) opened at 0.0372 (12:00 ET - 1) and traded between 0.0342 and 0.0386 before closing at 0.0384 at 12:00 ET. The 24-hour volume amounted to approximately 36.5M, while total turnover was 1.3M USD. Price action displayed a bearish bias early on, followed by a late rally that stalled below key resistance.

Structure & Formations

Price formed multiple bearish engulfing candles between 16:00–19:45 ET, signaling exhaustion of the initial bullish momentum. A notable doji appeared at 0.0345 around 02:15 ET, suggesting indecision after a dip. Later, a strong bullish pinbar emerged at 0.0355 on 04:30 ET, followed by a larger one at 09:45 ET near 0.0351. These signaled accumulation and potential reversal. Resistance levels at 0.0365 (key psychological level), 0.0373 (previous high), and 0.0383 (latest peak) are now crucial for direction. Support levels are seen at 0.0355, 0.0348, and 0.0342.

Moving Averages

On the 15-minute chart, the 20-period and 50-period SMAs intersected around 0.0360–0.0365, forming a dynamic support/resistance zone. The 50-period SMA lagged behind the price, indicating a bearish bias. On the daily chart, the 200-period SMA was near 0.0345, forming a key floor for the pair. Price remains above the 100-period SMA at 0.0355, suggesting some short-term buying interest. Crossovers between the 50 and 20 SMAs may indicate directional bias shifts.

MACD & RSI

The MACD line crossed below the signal line near 0.0365, forming a bearish divergence with a price high of 0.0386. The histogram showed a shrinking bullish momentum, suggesting waning bullish conviction. RSI climbed above 70 at 0.0386, entering overbought territory, while failing to confirm a breakout above 0.0383. This overbought condition, without confirmation, hints at a potential pullback. RSI may consolidate around 65–70 before a reversal, but a break below 60 would strengthen bearish signals.

Bollinger Bands

Volatility expanded significantly in the final 6 hours, pushing price near the upper band. Price remained within the 2-standard deviation range for most of the day, with the lower band acting as a floor between 0.0342–0.0345. A contraction was observed during the 02:00–05:00 ET period, followed by a breakout that failed to hold. The bands now show a wider range, with the upper band near 0.0385 and the lower near 0.0342. A sustained move above the upper band would confirm a bullish breakout, but current momentum suggests otherwise.

Volume & Turnover

Volume spiked to 1.5M during the final hour of the 24-hour window, coinciding with a failed push toward 0.0386. This volume spike without a higher close indicates bearish rejection. Conversely, buying interest appeared between 04:30–09:00 ET, with volume increasing by 200% during the accumulation phase. Turnover also rose in line with volume, with the highest levels at 0.0386 and 0.0355. Divergence between price and volume was observed during the 05:00–09:00 ET period, indicating potential trend reversal.

Fibonacci Retracements

Applying Fibonacci to the 24-hour swing from 0.0342 to 0.0386, key retracement levels sit at 0.0365 (38.2%), 0.0373 (50%), and 0.0381 (61.8%). Price stalled near the 61.8% level, indicating strong resistance. On the 15-minute chart, a 0.0355–0.0383 swing showed a 50% retracement at 0.0369, which held as a support during the 15:00–18:00 ET period. A break of the 0.0342 low would confirm a deeper correction, potentially testing 0.0337 (78.6%).

Backtest Hypothesis

Using a breakout-based strategy aligned with the above indicators, a hypothetical buy signal would have triggered near 0.0355 (on the 04:30–06:00 ET consolidation), followed by a target at 0.0369–0.0373. A sell signal could have been triggered at 0.0383 with a stop loss at 0.0375. Over the last 6 hours, such a strategy would have captured a 0.0033–0.0035 profit range. However, the failed push above 0.0383 and bearish divergence in the MACD suggest the strategy may need a tighter stop or a reversal bias for the next 24 hours.