Market Overview for Coin98/Tether (C98USDT): 24-Hour Performance

Summary
• Price formed a bullish engulfing pattern around 0.0231 after a consolidation phase.
• RSI suggests moderate momentum with no overbought or oversold signals detected.
• Volume spiked during the 02:15–04:45 ET window, confirming upward price action.
• Bollinger Bands showed slight expansion, indicating rising short-term volatility.
• No clear Fibonacci retracement levels were breached during the 24-hour period.

Market Overview

Coin98/Tether (C98USDT) opened at 0.023 and reached a high of 0.0234 before closing at 0.0231 at 12:00 ET. Total 24-hour volume was 6,221,739.7, with notional turnover amounting to 137,849.07 USDT.

Structure & Formations

A bullish engulfing pattern formed near 0.0231 in the early hours, suggesting short-term buying pressure. A consolidation range between 0.0228 and 0.0232 remained intact, with 0.023 acting as a key support and 0.0233 a tentative resistance. A doji formed at 04:15 ET, hinting at indecision.

Moving Averages

On the 5-minute chart, the 20-period MA showed slight upward bias, crossing above the 50-period MA in the early morning. The 50-period MA remained above price in the last 4 hours, suggesting potential bearish momentum in the short term.

MACD & RSI

The MACD line hovered near the signal line with a narrowing histogram, indicating waning momentum. RSI remained in the mid-range (45–55), suggesting no extreme overbought or oversold conditions.

Bollinger Bands

Price traded within a 0.0003 range during the last 6 hours, with Bollinger Bands expanding slightly in the morning. This expansion points to increasing volatility, with price staying near the upper band during key buying periods.

Volume & Turnover

Trading activity surged between 02:15 and 04:45 ET, with volume peaking at 309,528.2 and turnover reaching 7,199.62 USDT. Price and turnover were aligned during this period, reinforcing the upward move.

Fibonacci Retracements

On the 5-minute chart, the 38.2% retracement level of the 0.0228–0.0234 swing was tested at 0.0232 without a clear break. No daily Fibonacci levels were breached during the 24-hour window.

Price may test key resistance at 0.0233 in the next 24 hours. Traders should watch for a potential breakdown below 0.023 if volume cools and momentum diverges.