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

Summary
• Price tested 0.0276–0.0278 resistance with mixed follow-through.
• Volume surged during 21:00–22:30 ET but failed to sustain bullish momentum.
• RSI overbought above 70 but failed to confirm higher highs.
• Bollinger Bands narrowed ahead of 22:00 ET before price expansion.
• Fibonacci levels at 0.0273–0.0275 appear as critical near-term support.

Coin98/Tether (C98USDT) opened at 0.0268 on 2025-12-11 12:00 ET, reached a high of 0.0278, a low of 0.0266, and closed at 0.0274 as of 2025-12-12 12:00 ET. Total 24-hour volume was 9,237,700 C98, with a notional turnover of approximately $2.55 million (assuming 1 C98 = $1 for estimation).

Structure & Formations

Price developed a bullish

engulfing pattern near 0.0270 in the early evening hours, followed by a bearish hanging man as it approached 0.0276–0.0278. These formations suggest mixed conviction. A key support cluster formed near 0.0273–0.0275, where price repeatedly found buyers after short-term declines, indicating potential near-term stability.

Moving Averages

On the 5-minute chart, the 20-period moving average hovered near 0.0273–0.0274 during the late evening, with the 50-period slightly trailing, indicating sideways to slightly bullish bias. On a daily basis, the 50-period MA was below 0.0275, suggesting the pair remains in a moderate bull phase for the longer term.

MACD & RSI

The MACD crossed above the signal line during the evening hours, signaling short-term bullish momentum, but the RSI reached overbought territory (above 70) without strong follow-through in price. This divergence hints at potential exhaustion. RSI also failed to hold above 60 after the 22:00 ET low, suggesting weak conviction in upward moves.

Bollinger Bands

Volatility remained compressed for much of the day, with Bollinger Bands narrowing between 0.0270 and 0.0275. A breakout occurred just before 22:00 ET as price pushed toward the upper band. Price closed near the middle band, suggesting consolidation may follow after the expansion.

Volume & Turnover

Volume spiked during 21:00–22:30 ET as price tested 0.0276–0.0278, reaching a peak of 383,409.8 C98 in a single 5-minute interval. However, subsequent volume declined even as price fell, indicating weak bearish conviction. The overall volume profile shows higher activity in the late evening, aligning with price expansion.

Fibonacci Retracements

A key 5-minute swing from 0.0266 to 0.0278 identified 0.0273 (38.2%) and 0.0275 (61.8%) as critical levels. Price bounced off these levels multiple times, suggesting they may hold in the near term. On the daily chart, the 50–61.8% retracement of a prior week’s move also aligns with 0.0273–0.0275, reinforcing the area's significance.

Price may consolidate near 0.0274–0.0276 in the next 24 hours if buyers at 0.0273–0.0275 hold. However, a break below 0.0272 or above 0.0277 could signal a shift in short-term direction. Investors should watch for a retest of 0.0276–0.0278 for momentum confirmation or rejection.