Market Overview for Coin98/Tether (C98USDT) – 24-Hour Analysis

• Coin98/Tether (C98USDT) saw a 9.3% drop from 0.0517 to 0.0487 over 24 hours, closing near a 24-hour low.
• Volatility expanded mid-session with a 15-minute high of 0.0530, but failed to hold gains, suggesting bearish momentum.
• Volume spiked sharply during the sell-off, while turnover confirmed the downward move, indicating strong bear pressure.
• RSI signaled oversold conditions near the 30-level by 12:00 ET, hinting at potential short-term support.
• Fibonacci levels at 0.0500 and 0.0482 appear key as short-term support and potential reversal zones.

Coin98/Tether (C98USDT) opened at 0.0517 on 2025-09-14 12:00 ET and closed at 0.0487 as of 2025-09-15 12:00 ET, recording a low of 0.0482 and a high of 0.0530. Total volume across 24 hours was 17,995,360.0, while notional turnover was approximately $903,000, reflecting increased selling pressure as prices broke below key support.

Structure & Formations

The 24-hour chart displayed a clear bearish structure, with a failed bullish breakout around 0.0528 during the early hours of 2025-09-15. A large bearish engulfing pattern formed around 06:00–06:15 ET as prices retested the 0.0528–0.0527 range and collapsed. A bearish harami appeared near 0.0505 around 07:45–08:00 ET, indicating internal bear pressure. Support levels at 0.0500 and 0.0482 appear to be critical, with the latter now challenged after the recent drop. A doji at 0.0496–0.0498 around 14:30–14:45 ET suggests short-term indecision.

Moving Averages

On the 15-minute chart, the 20SMA and 50SMA were both bearish, with price closing below both at 12:00 ET. The 50SMA was at 0.0495 and the 20SMA at 0.0499, indicating a bearish bias in short-term momentum. On a daily basis, the 50DMA was at 0.0521 and the 200DMA at 0.0516, suggesting that the mid-0.0510s may act as a longer-term support level.

MACD & RSI

The MACD turned negative in the latter half of the 24-hour period, confirming the bearish move. The histogram showed increasing bearish divergence from 07:00–11:00 ET as buying pressure faded. RSI dropped from overbought levels (>60) in the early morning to near 30 by 12:00 ET, indicating short-term oversold conditions. However, the RSI did not form a bullish divergence with price, reducing the probability of a reversal. A test of 0.0485 could see RSI rebounding into neutral territory if bulls defend the level.

Bollinger Bands

Volatility expanded sharply after 19:00 ET on 2025-09-14, as the price broke out of a tight band. By 06:00 ET on 2025-09-15, the band had widened significantly, with price hovering near the lower band. This suggests increased bear pressure and potential for a bounce from the lower bound. A move above the mid-band at 0.0495–0.0498 may signal a temporary pause in the decline.

Volume & Turnover

Volume surged during the sell-off phase, with a massive 2.67 million volume spike at 08:15–08:30 ET when price dropped from 0.0511 to 0.0508. Notional turnover confirmed the bearish move, rising above $130,000 during that period. A divergence between volume and price was observed around 09:30–10:00 ET, where volume declined while prices continued lower, suggesting potential exhaustion in the bearish move.

Fibonacci Retracements

Key Fibonacci levels were derived from the recent 0.0482–0.0530 swing. The 38.2% retracement at 0.0500 and 61.8% at 0.0487 were tested during the session. Price closed near the 61.8% level, indicating strong bear pressure. On the daily chart, the 38.2% retracement from the 0.0505–0.0530 range is at 0.0515, which could see renewed interest if the correction continues.

Backtest Hypothesis

A viable backtesting strategy could involve a short-biased entry around 0.0500–0.0505 if price breaks below 0.0500 with a confirmed bearish candlestick and increasing volume. A stop could be placed at 0.0508, above the recent swing low, with a target at 0.0482–0.0485. A trailing stop may be applied once the price retests 0.0490, given the strong bearish momentum and confirmed support levels. This strategy aligns with the observed bearish structure and RSI divergence, offering a high-risk-reward trade setup.