Market Overview for Chiliz/Tether (CHZUSDT) on 2025-11-05

Summary• Price declined from 0.02888 to 0.02842, showing bearish pressure.• Volume increased notably after 20:30 ET, aligning with the price drop.• RSI and MACD suggest overbought to oversold transition as momentum weakens.• Bollinger Band contraction early morning hinted at consolidation before a breakout.• Fibonacci levels at 0.02757 and 0.02857 suggest key support and resistance.

Chiliz/Tether (CHZUSDT) opened at 0.02888 at 12:00 ET−1 and closed at 0.02842 at 12:00 ET today, with an intraday high of 0.02888 and low of 0.02687. Total volume over the 24-hour period was 70,986,157.0, with a notional turnover of $1,993,395. The market appears to have moved through a key support level, indicating potential bearish continuation.

Structure & Formations

The 15-minute chart shows a bearish breakdown below the 0.02842 support, with a notable bearish engulfing pattern at 20:30 ET−1 as price moved from 0.02806 to 0.02780. A key support area at 0.02757 has been tested twice and appears to provide short-term bounce potential. A doji at 05:45 ET suggests indecision and possible reversal if price holds.

Moving Averages

The 20-period and 50-period EMA on the 15-minute chart appear to have crossed below key price levels, reinforcing bearish momentum. On the daily chart, the 50-period EMA is positioned above the 100- and 200-period EMAs, suggesting a mixed near-term outlook but continued bearish sentiment in the shorter timeframe.

MACD & RSI

The MACD histogram has turned negative and diverged from price action in the last five hours, suggesting weakening bullish momentum. RSI moved into oversold territory at 31.2 after the major drop, raising the possibility of a short-term rebound. However, the bearish crossover in MACD and the low RSI suggest caution in expecting a reversal.

Bollinger Bands

Price has remained within a narrow Bollinger Band range in the morning before a sharp breakout below the lower band at 20:30 ET−1. The 20-period band width expanded significantly during the break, indicating increased volatility and potential continuation of the move toward 0.02757.

Volume & Turnover

The largest volume spike occurred at 20:30 ET−1, when 7,071,935.0 units changed hands, coinciding with a significant price drop. This suggests strong bearish conviction at that time. Turnover also spiked to $196,336 during this candle, aligning with price movement and indicating a strong directional move.

Fibonacci Retracements

Applying Fibonacci to the recent 15-minute swing from 0.02687 to 0.02888, the 0.02829 level corresponds to the 38.2% retracement and appears to have been a minor resistance. The 61.8% retracement level at 0.02757 has now become a key support area, which could trigger a bounce if price stabilizes.

Backtest Hypothesis

The backtesting strategy hinges on capturing overbought and oversold conditions via RSI-14 and confirming with price and volume. With RSI now in oversold territory and a bearish engulfing pattern observed, a one-day-hold short strategy could be evaluated. To proceed, we can either adjust the symbol format (e.g., BINANCE:CHZUSDT) to fetch RSI-14, upload alternative OHLCV data for CHZ/USDT, or switch to a more recognized symbol. Your input will guide the next step.