Market Overview for Coin98/Tether (C98USDT) on 2025-10-26

• C98USDT traded in a narrow range during the early session before a sharp rebound started at ~19:00 ET.
• A key breakout above 0.0383 emerged with strong volume, followed by consolidation and a test at 0.0392.
• Volatility and turnover surged during the 0.0381–0.0392 rally, suggesting increased participation.
• RSI signaled overbought conditions by 10:00 ET, while MACD showed a bullish crossover at 08:15 ET.
• A recent high at 0.0392 and a support zone at 0.0380–0.0382 appear critical for near-term direction.

Coin98/Tether (C98USDT) opened at 0.0380 on 2025-10-26 (12:00 ET – 1) and traded between 0.0376 and 0.0393, closing at 0.0391 (12:00 ET) on the same day. The pair posted a strong rebound from 0.0380–0.0383 and broke above key resistance at 0.0383 during a high-volume period around 19:00–20:45 ET. Total volume reached 13.5 million C98 tokens, and notional turnover totaled approximately $509,400, reflecting strong buying pressure.

Structure & Formations

C98USDT formed a clear base between 0.0380 and 0.0383 before a breakout above 0.0383 at ~19:00 ET. This move was confirmed by a bullish engulfing pattern and a strong volume spike. A subsequent pullback tested the 0.0383 level, which appears to be a new support zone. The pair then resumed higher into a high of 0.0392, forming a broad ascending triangle structure from 0.0380–0.0383 to 0.0391–0.0392. Key resistance lies at 0.0392–0.0393, while 0.0380–0.0383 may act as near-term support.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed bullish at ~19:15 ET, aligning with the breakout. Price stayed above both for most of the session, confirming the short-term uptrend. On the daily chart, the 50-period MA sits at ~0.0379, suggesting the current rally could be part of a larger bullish reversal if the 200-period MA (~0.0375) is respected.

MACD & RSI

MACD crossed above zero at 08:15 ET and remained in positive territory, confirming bullish momentum during the 0.0383–0.0392 rally. RSI peaked near overbought levels (~69) by 10:00 ET but did not break 70, suggesting the move may not be exhausted yet. However, RSI divergence emerged after 11:45 ET as price hit 0.0391, indicating a potential pause or pullback.

Bollinger Bands

Volatility expanded significantly during the breakout phase, with price trading near the upper band of the Bollinger Bands from ~19:00–20:45 ET. The band width widened during this period, reflecting increased uncertainty. After forming a high at 0.0392, price retraced toward the middle band, suggesting a consolidation phase.

Volume & Turnover

Volume surged during the 0.0383–0.0392 rally, peaking at ~779,330.4 C98 tokens at 19:00 ET. The rally coincided with a 42% increase in notional turnover, confirming institutional or large-cap investor involvement. A volume divergence emerged after 11:30 ET, as price hit 0.0391 with declining volume, hinting at a potential pause.

Fibonacci Retracements

Applying Fibonacci levels to the 0.0380–0.0392 swing, the 23.6% level (~0.0386) and 38.2% (~0.0387) were tested during the consolidation phase. The 61.8% level (~0.0389) coincided with price action around 0.0390–0.0391 and could serve as a pivot if the trend resumes.

Backtest Hypothesis

A backtest strategy focusing on Bullish Engulfing patterns could be applied to C98USDT using a 3-day holding period. However, the initial data fetch for this pattern returned an “asset info not found” error, likely due to an incorrect ticker symbol or exchange. This could be resolved by confirming the exact symbol (e.g., BINANCE:C98USDT or KUCOIN:C98USDT) or using a different available pair. Once the correct data is retrieved, a performance evaluation can be conducted to assess the efficacy of the strategy in real-world conditions.