Market Overview: Zilliqa/Tether (ZILUSDT) 24-Hour Summary

• ZILUSDT traded in a narrow range today, with a 0.00007 (0.6%) swing from 0.01151 to 0.01158.
• Price found support near 0.01152 and resistance at 0.01158, forming a short-term consolidation pattern.
• Volume remained elevated during the 19:00–21:00 ET window, with a total 24-hour volume of ~23.8 million ZIL.
• Turnover peaked in late evening hours, but no strong directional breakout occurred.
• RSI and MACD suggest neutral momentum, with no overbought or oversold conditions.

Price and Volume Snapshot

Zilliqa/Tether (ZILUSDT) opened at $0.01155 on 2025-09-17 at 12:00 ET and closed at $0.01195 by 12:00 ET on 2025-09-18. The pair reached a high of $0.01206 and a low of $0.01151 over the 24-hour period. Total volume traded was approximately 65.1 million ZIL, with a notional turnover of $7.7 million, calculated using average price.

Structure and Formations

The 24-hour chart displayed a range-bound formation, with the price oscillating between key support at $0.01152 and resistance at $0.01158. A bullish engulfing pattern emerged at $0.01195 during the early morning hours (05:00–06:00 ET), followed by a bearish harami at $0.01192–$0.01196, suggesting indecision among traders. A doji formed near $0.01196 during the 05:45–06:00 ET timeframe, indicating a potential pause in momentum.

Moving Averages and Volatility

On the 15-minute chart, the 20-period and 50-period moving averages remained in close proximity, with the 20-line slightly above the 50-line in the latter part of the day. This suggests a potential short-term bullish bias. The daily chart shows the 50-EMA at $0.01157 and the 200-EMA at $0.01153, with price currently above both, indicating a mild bullish structure for the longer term. Bollinger Bands showed a moderate expansion in the evening session, with price hovering just inside the upper band, reflecting increased volatility during key price tests.

MACD and RSI Insights

The 15-minute MACD line crossed above the signal line in the early morning hours, indicating a bullish divergence, but failed to confirm with a strong price breakout. The RSI oscillated between 45 and 55 for most of the day, showing neutral momentum, and peaked at 61.2 during the 04:00–05:00 ET window—bordering on overbought territory without a corresponding move in volume. A brief oversold condition was observed in the morning hours, but it failed to trigger a significant bounce.

Fibonacci Retracements

Applying Fibonacci to the 19:30–22:45 ET swing (high of $0.01206 to low of $0.01196), price found support at the 38.2% level (~$0.01199) and later tested the 61.8% level (~$0.01195), where it consolidated. On a daily basis, the 50% retracement level of a broader move stands near $0.01155, where the price opened and found initial support.

Volume and Turnover Divergences

Volume was concentrated in the late evening and early morning hours, with the 21:00–23:15 ET window accounting for 12.3 million ZIL in volume, the highest of the day. Turnover during this period reached $1.49 million, driven by larger price moves and higher trading intensity. A divergence between price and volume was noted during the 03:45–04:45 ET window: while price rose, volume declined, signaling a weakening in buyer conviction.

Forward Outlook and Risk Consideration

Looking ahead, ZILUSDT appears to be testing the upper boundary of its short-term range, with potential resistance forming around $0.01206 and support near $0.01152. A break above $0.01206 may invite further buying interest, while a slip below $0.01195 could re-test $0.01192 as a key psychological level. Investors should remain cautious of divergences in momentum indicators and watch for volume confirmation on directional moves.

Backtest Hypothesis

The proposed backtesting strategy involves entering long positions when price closes above the 20-period EMA on the 15-minute chart, with a stop-loss placed just below the most recent swing low. A take-profit target is set at 1.5 times the average true range (ATR) from entry. Given today’s price behavior, this strategy would have triggered a long entry in the 05:15–06:00 ET timeframe, aligning with the bullish engulfing pattern and the 20-EMA crossover. While the initial move supported the trade, volume divergence later in the day suggests the strategy may benefit from a volume filter or tighter stop-loss to manage false signals in ranging conditions.