Market Overview for Coin98/Tether (C98USDT)

Summary
• Price declined from 0.0257 to 0.0249 amid bearish momentum.
• Key support tested near 0.0249 with high volume.
• RSI indicates overbought conditions in early recovery, but divergences suggest caution.

Coin98/Tether (C98USDT) opened at 0.0257 on 2026-01-09 12:00 ET, hit a high of 0.0258, a low of 0.0248, and closed at 0.0248 as of 2026-01-10 12:00 ET. The 24-hour volume totaled 6,038,237.6 and turnover reached 153,155.88 USDT.

Structure & Formations

Price formed bearish inside bars and hammer patterns during the descent toward 0.0249. A potential short-term support zone emerged around 0.0248–0.025, with 0.0253 as a nearby resistance level. A bullish engulfing pattern at 0.0251–0.0252 in the early morning suggests possible short-term buying interest.

Moving Averages

The 20-period and 50-period moving averages on the 5-minute chart remained bearish, with price trending below both. Daily charts suggest a broader consolidation phase, though the 50-period line appears to be acting as a minor support.

MACD & RSI

The 5-minute MACD indicated bearish momentum with negative divergence in the late afternoon. RSI peaked above 60 in the early recovery move but has since declined toward 30, suggesting a potential oversold condition. A divergence in RSI during the price recovery implies caution for further downside.

Bollinger Bands

Volatility expanded in the afternoon as the price dropped sharply toward the lower band. Price has since tested the upper band multiple times without a clear breakout. A contraction is forming in the early morning, which could precede a directional move.

Volume & Turnover

Volume spiked during the afternoon decline to 0.0249 and remained elevated as price consolidated near support. Turnover aligned with volume, showing no significant divergence. A smaller volume during the morning recovery suggests limited conviction in the short-term bounce.

Fibonacci Retracements

The 0.618 retracement level of the morning upswing at 0.0252 aligns with a key resistance zone. If price breaks below 0.0248, the next support target is 0.0245–0.0246, with a 0.382 retracement at 0.0249 acting as a short-term floor.

The market appears to be in a consolidation phase after a sharp decline, with bearish momentum still intact. A break below 0.0248 could signal further downside risk, while a recovery above 0.0252 could indicate renewed buying interest. Investors should monitor volume and RSI for signs of exhaustion or re-entry.