Market Overview for Chiliz/Tether (CHZUSDT): 24-Hour Candlestick Breakdown

• Chiliz/Tether (CHZUSDT) declined through a key support level on heavy volume, breaking below the 0.0384 barrier.
• A bearish engulfing pattern formed during the late ET session, signaling potential bearish momentum.
• Volatility expanded in the early morning with price reaching 0.03772 before rallying slightly intraday.
• RSI entered oversold territory but failed to generate a strong reversal, suggesting possible further consolidation or decline.
• Bollinger Bands widened during the early hours, reflecting increased uncertainty in the market.

Chiliz/Tether (CHZUSDT) opened at 0.03922 on 2025-09-25 at 12:00 ET and traded as high as 0.03924 before closing at 0.03854 at 12:00 ET on 2025-09-26. The pair reached an intraday low of 0.03772 during the 24-hour period, marking a notable breakdown. Total volume for the 24-hour window was 48,354,460.0, with a notional turnover of $1.88 million, indicating strong selling pressure and increased participation.

Structure & Formations

Price action on CHZUSDT revealed a significant breakdown below a key psychological support level at 0.0384. A bearish engulfing candle formed during the early morning ET hours, confirming the continuation of the downtrend. Additionally, a long lower wick was visible around 0.03816, but it failed to trigger a reversal, reinforcing bearish sentiment. A doji candle emerged near 0.03826, suggesting indecision and potential exhaustion in the current leg of the move.

Moving Averages

On the 15-minute chart, the 20-period moving average crossed below the 50-period line, reinforcing the bearish bias. Both indicators currently sit above the current price, suggesting a continuation of downward momentum. On the daily chart, the 50-period moving average at 0.0390 appears to be a strong resistance level, with price failing to test it over the past several sessions.

MACD & RSI

The MACD line turned negative during the early morning hours, and the histogram continued to contract, indicating weakening bullish momentum. The RSI entered oversold territory at 28.3, but it failed to bounce above the 30 level, suggesting continued selling pressure. A potential short-term reversal could occur if the RSI manages to cross above 30 on rising volume.

Bollinger Bands

The Bollinger Bands widened significantly during the overnight hours, reflecting increased volatility. Price action moved near the lower band during the breakdown at 0.03772, indicating a possible short-term oversold condition. However, as the price failed to close above the middle band, it suggests that the bearish trend remains intact. A consolidation near the 0.0380–0.0382 range could signal a potential bounce, but a retest of the 0.03772 level would be required to confirm a reversal.

Volume & Turnover

Volume spiked during the breakdown at 0.03772, reaching a 24-hour high of 1,294,505 units at 23:45 ET. This suggests strong selling pressure at that level. However, turnover failed to confirm the move, with notional value declining slightly after the breakdown. The volume profile suggests that sellers are still in control, but a divergence in volume and price could indicate the start of a consolidation phase or a potential reversal.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute swing from 0.03924 to 0.03772 shows that the 61.8% level sits at 0.03818, which aligns with the current price action. A further decline would test the 78.6% level at 0.03802, while a potential rebound might aim for the 50% level at 0.03848. If price stabilizes above this level, it could signal a short-term bottoming process.

Backtest Hypothesis

A potential backtesting strategy for CHZUSDT could involve entering short positions when price breaks below a key Fibonacci level (e.g., 61.8%) and volume confirms the breakdown. A stop-loss could be placed above the 50-period moving average, while the target would be the next Fibonacci level below (e.g., 78.6%). This approach would aim to capture short-term bearish momentum in a high-volatility environment, where price action and volume divergence suggest increased probability of continuation rather than reversal.