Market Overview: Zcash/Tether (ZECUSDT) 24-Hour Breakdown

• Zcash/Tether (ZECUSDT) traded in a volatile range, with a 24-hour high of $98.19 and a low of $72.41.
• Price surged late in the day, forming a bullish breakout above key resistance levels into the $90s.
• High-volume activity and strong notional turnover confirm renewed bullish momentum.
• RSI and MACD signal overbought conditions, suggesting a potential pullback could follow.
• Bollinger Bands showed expansion, indicating increased short-term volatility.

Market Snapshot

Zcash/Tether (ZECUSDT) opened at $73.98 on 2025-09-30 12:00 ET and closed at $94.74 at 12:00 ET on 2025-10-01, with an intra-day high of $98.19 and a low of $72.41. The pair traded with a total volume of 468,396.99 ZEC and a notional turnover of approximately $41,990,646.15.

Structure & Formations

Price action displayed strong volatility with multiple key levels tested and broken. A major support level at $73.53 was decisively pierced early in the morning, followed by a sharp reversal into the afternoon. A bullish engulfing pattern formed around 19:30 ET, confirming a shift in sentiment. Additionally, a key resistance level at $89.40 was broken late in the session, with a bullish continuation forming thereafter.

Moving Averages and MACD / RSI

On the 15-minute chart, ZECUSDT closed above its 20-period and 50-period moving averages, signaling bullish momentum. The MACD crossed above the signal line, indicating a potential continuation of the upswing. However, RSI reached overbought territory, hinting at a possible correction in the near term. On the daily chart, the 50-period MA is approaching $85, and the 200-period MA is at $80, suggesting the recent rally has a strong short-term bias.

Bollinger Bands and Fibonacci Retracements

Bollinger Bands widened as price surged through $90s, indicating a high-volatility phase. The close at $94.74 sits near the upper band, suggesting a possible mean reversion toward the midline. Applying Fibonacci retracements to the recent 15-minute swing from $72.41 to $98.19, price is currently near the 78.6% retracement level, which could serve as a pivot point. A break above $98.19 would test the 127.2% extension, while a pullback below $86.25 (61.8%) could trigger a retest of $80.28 (38.2%).

Volume and Turnover

Volume surged after 07:30 ET, with massive open interest spikes in the $85–$95 range. The highest notional turnover occurred during the 09:45–10:00 ET period, as price advanced from $93.74 to $94.24. The volume and price moved in sync, confirming the bullish bias. A divergence between price and volume could signal weakening momentum, but no such divergence was observed in the last 24 hours.

Forward Outlook and Risk

The recent rally appears to be driven by strong accumulation above $89, with the 50-period MA providing a potential support base. A retest of $86.25 may be expected in the next 24 hours, though a breakout above $98.19 could extend the rally. Investors should monitor key levels and watch for a possible bearish correction if RSI and MACD show weakening signs.

Backtest Hypothesis

Using the identified patterns and indicators, a potential backtest strategy could involve entering long positions on a bullish engulfing pattern forming above the 50-period MA, confirmed by a MACD crossover and RSI divergence. A stop-loss could be placed below the 61.8% Fibonacci retracement level. If this setup aligns with increased volume and Bollinger Band expansion, the strategy could be backtested over the past month to assess its effectiveness in volatile ZECUSDT conditions.