Market Overview for Chiliz/Tether USDt (CHZUSDT) – 2025-09-10

• CHZUSDT traded in a tight range with no decisive breakout
• RSI and MACD showed muted momentum, suggesting indecision
• Volatility expanded after 15:00 UTC before contracting again
• Price found support near 0.0421 and tested resistance at 0.0427
• Bollinger Bands widened, indicating potential for trend movement

The 24-hour price action for Chiliz/Tether USDt (CHZUSDT) opened at 0.04169 on 2025-09-09 1600 ET and closed at 0.0421 on 2025-09-10 1200 ET, reaching a high of 0.04297 and a low of 0.04142. The total volume was ~18.3 million tokens, with a notional turnover of ~$774,300. The pair moved within a defined range, with consolidation observed near key support and resistance levels.

Structure & Formations

Key support levels formed at 0.0421–0.0422 and 0.0418–0.0419, with price bouncing off these levels multiple times. Resistance emerged around 0.0427–0.0429 and 0.0426, where selling pressure increased. Notable candlestick patterns included a bullish engulfing pattern at 0.0416–0.04164 (1630 ET) and a bearish harami near 0.0421 (0930 ET). A doji appeared at 0830 ET, indicating indecision and a potential turning point.

Moving Averages

On the 15-minute chart, the 20SMA and 50SMA crossed over during the early morning hours, suggesting a potential short-term bullish bias. However, the daily 50EMA and 200SMA remained flat, with price hovering near the 50EMA without a clear directional bias. This implies that while short-term bullish momentum exists, the longer-term trend remains sideways.

MACD & RSI

The MACD histogram turned positive after 0600 ET and peaked before 1000 ET, confirming a short-lived bullish thrust. However, it has since flattened, indicating weakening momentum. The RSI moved between 40 and 60, staying in the neutral zone for most of the day and never entering overbought or oversold territory. This suggests lack of conviction among traders and limited potential for sharp directional moves.

Bollinger Bands

Bollinger Bands showed significant expansion between 0300 ET and 0600 ET, indicating a period of high volatility. Price later consolidated within the bands, with multiple touches near the lower and upper boundaries. The middle band remained above the price for much of the session, implying a neutral-to-bullish bias in the short term.

Volume & Turnover

Volume spiked between 0300 and 0600 ET, coinciding with the expansion of Bollinger Bands and the bullish MACD signal. Turnover also showed a similar increase during this period, confirming the move. However, volume has since declined, with no significant divergence between price and volume seen so far. This suggests the recent rally was genuine but lacks sustained follow-through.

Fibonacci Retracements

Applying Fibonacci to the recent swing low at 0.04142 and the swing high at 0.04297, key retracement levels of 38.2% at 0.04223 and 61.8% at 0.04179 were tested throughout the day. The 61.8% level acted as support, with price rebounding twice. This suggests a potential target for a deeper correction below 0.04179 in the near term.

Backtest Hypothesis

Given the current setup, a backtest strategy could focus on bullish breakouts above the 0.0427 resistance level, with a stop below 0.0423. The MACD crossover and the 20SMA crossing above the 50SMA support this idea. A short-term reversal strategy using the doji at 0830 ET as an entry trigger might also prove effective, especially if RSI dips below 50 and bounces off the 38.2% Fibonacci level. Both strategies could be evaluated for position size and risk management, using the 0.0418 level as a stop.