Market Overview for Zcash/Tether (ZECUSDT): 2025-09-22 to 2025-09-23

• Zcash/Tether (ZECUSDT) rose 3.7% over the last 24 hours, closing near a new high at $49.14.
• A bullish breakout above $48.50 is confirmed, with strong volume and momentum supporting the move.
• RSI indicates overbought conditions at 62.8, suggesting potential for consolidation or pullback.
• Bollinger Bands show widening volatility, with price staying above the 20-period moving average.
• Notable bullish engulfing and inside bar patterns emerged near key support at $47.50.

Zcash/Tether (ZECUSDT) opened at $47.98 on 2025-09-22 12:00 ET and closed at $49.14 24 hours later on 2025-09-23 12:00 ET. The pair reached a high of $53.87 and a low of $47.43, with a total traded volume of 48,290.69 ZEC and a notional turnover of $2,405,948.00 over the period.

Structure & Formations

ZECUSDT displayed multiple bullish patterns during the 24-hour period, including a bullish engulfing pattern at the $47.74 to $47.97 range and an inside bar pattern near the $48.25 level. A key support level appears to be forming around $47.50, with a minor resistance at $48.38 and a stronger resistance at $49.14–$49.26. A broader resistance zone is forming near the $50.33–$51.75 range, with the high of $53.87 suggesting a potential ceiling.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both trend upward, with the price staying above both lines for most of the 24-hour period. On the daily chart, the 50-period and 100-period moving averages appear to be converging, indicating a possible consolidation phase or the beginning of a new trend. The 200-period MA remains below the price, reinforcing the bullish bias.

MACD & RSI

The MACD turned positive in the final hours, confirming bullish momentum. RSI reached a peak of 62.8 near the close, suggesting the pair may face a temporary correction. However, the relatively low RSI level (not overbought yet) implies the upward move is not necessarily exhausted.

Bollinger Bands

Bollinger Bands expanded significantly during the latter half of the 24-hour window, with the price touching the upper band multiple times. This indicates increasing volatility and strong buying interest. The price has remained above the 20-period MA and within the upper 2/3 of the bands, suggesting a continuation of the bullish trend could be likely.

Volume & Turnover

Volume and turnover spiked during the breakout above $48.50 and again during the rally to $53.87. The largest single 15-minute candle contributed 10,793.386 ZEC in volume, corresponding to $51.75 turnover. Price and turnover moved in tandem during these phases, reinforcing the strength of the bullish move.

Fibonacci Retracements

Fibonacci retracements applied to the 47.43–53.87 swing suggest key levels to watch: the 38.2% retrace at $49.14 (current close) and the 61.8% retrace at $51.75 (already tested). A retest of the 61.8% level could be expected if the current trend continues.

Backtest Hypothesis

A potential backtesting strategy could involve entering long positions when price breaks above a dynamic 20-period moving average and the MACD crosses into positive territory. Stops could be placed at the 61.8% Fibonacci level below the current price, and targets could align with the 78.6% or 100% Fibonacci extensions. This strategy would aim to capture continuation of the upward momentum while managing risk through defined stop-loss levels.