Market Overview for Coin98/Tether (C98USDT)

Summary
• Price action formed a bearish breakdown below 0.0250 after a consolidation phase.
• High-volume sell-offs in the early hours triggered oversold RSI conditions.
• Bollinger Bands showed a sharp expansion, signaling increased volatility.
• MACD crossed bearishly, confirming bearish momentum.
• Fibonacci levels suggest 0.0243-0.0244 as potential near-term support.

Coin98/Tether (C98USDT) opened at 0.0254 on 2026-01-11 at 12:00 ET, reached a high of 0.0255, and a low of 0.0236, closing at 0.0237 as of 2026-01-12 at 12:00 ET. Total volume over 24 hours was 8,830,139.5, with a turnover of 218,751.1 USDT.

Structure & Formations

Price action from 0.0255 to 0.0237 formed a descending channel, with 0.0250 acting as initial resistance and 0.0243–0.0244 forming a key support level. A long bearish shadow near 0.0243 suggests a rejection of lower levels, which may stall further declines in the short term.

Technical Indicators

The MACD turned bearish with a negative crossover, reinforcing the breakdown. RSI hit oversold territory below 30, suggesting a possible bounce but not a reversal unless volume confirms buying strength. Bollinger Bands widened significantly in the early morning, reflecting heightened volatility.

Volume & Turnover

Volume surged to over 3 million units at 07:45 ET as price fell below 0.0243, confirming bearish conviction. Turnover also spiked during this period, aligning with price action and suggesting genuine selling pressure.

Fibonacci Retracements

Key Fibonacci levels from the 0.0255–0.0236 swing are 0.0246 (38.2%), 0.0243 (61.8%), and 0.0240 (78.6%). The 0.0243 level held strong, and a bounce from this level would need strong volume to suggest a possible rebound.

Looking ahead, Coin98/Tether may test 0.0243–0.0244 again with a potential countermove if buyers step in. However, a breakdown below 0.0241 could increase downside risks for the next 24 hours. Investors should watch for volume confirmation at key levels to assess directionality.