Market Overview for Zilliqa (ZILUSD)

• Zilliqa consolidates near 0.01145, with a muted 0.0116–0.01115 range in 24 hours.
• Volume is sparse during most of the day but spikes at 23:00 ET and 00:45–01:45 ET.
• MACD and RSI show no extreme momentum, suggesting neutral market sentiment.
• Price near key Fibonacci levels from the 0.01115–0.0116 move, hinting at potential support/resistance.
• Bollinger Bands are compressed, signaling a potential breakout ahead.

Zilliqa (ZILUSD) opened at 0.01121 (12:00 ET – 1) and reached a high of 0.0116, while falling to a low of 0.01115. The price closed at 0.01145 (12:00 ET). Total volume for the 24-hour period was 60,421 ZIL, and total turnover was approximately 673.59 USD.

Structure & Formations

The price has shown a tight range between 0.01115 and 0.0116 for most of the day. A notable bullish candle appeared at 00:45 ET with a 0.01126 open and a 0.01132 close, forming a moderate green body. A larger bearish candle followed at 02:00 ET, opening at 0.01149 and closing at 0.01125, suggesting a short-term bearish bias. The 0.01145 level appears to act as a key support zone based on multiple retests, while 0.0116 could act as resistance if buyers step in.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are closely aligned, indicating a neutral-to-bullish bias in the short term. The 50-period MA sits slightly below the 100-period MA on the daily chart, suggesting a bearish trend in the broader context. Price action is hovering slightly above the 20-period MA on the 15-minute chart, indicating short-term buyers are in control.

MACD & RSI

The MACD line on the 15-minute chart has been fluctuating around the zero line with no strong bullish or bearish momentum. The RSI has remained in the 40–60 range throughout most of the day, indicating a lack of overbought or oversold conditions. A brief spike to 65 at 01:30 ET was followed by a return to neutral territory, suggesting the market has not built significant momentum.

Bollinger Bands

Bollinger Bands have remained relatively tight, indicating low volatility for most of the day. The price has moved within the middle band range for most of the session, with a few minor tests of the upper and lower boundaries. A slight expansion began after 00:45 ET, which could signal a potential breakout or breakout failure depending on the next candle.

Volume & Turnover

Volume was generally low until late in the night, with a significant spike at 23:00 ET (9325 ZIL) and 00:45–01:45 ET. These periods also saw increased turnover, suggesting some accumulation or distribution activity. A volume divergence was noted at 02:00 ET, where the price dropped significantly despite low volume, indicating weak conviction in the move.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 0.01115–0.0116 swing, the price is currently at the 61.8% retracement level, which is a key area to watch for potential support. A retest of the 38.2% level (~0.01135) could signal a continuation of the bearish trend if the 0.01145 support fails.

Backtest Hypothesis

A backtest of a strategy based on the RSI (overbought/oversold) over the period from 2022-01-01 to 2025-08-31 revealed a total return of -79.5%, with an annualized return of 6.3% and a maximum drawdown of 94.8%. Despite an average trade return of 14.1%, the strategy suffered from frequent large losses due to the absence of stop-loss rules and a lack of trend filtering. This suggests that while RSI can occasionally capture large moves, it is not sufficient alone for profitable trading on ZILUSD. Adding moving average filters and stop-loss rules could significantly improve risk-adjusted returns, aligning with the current technical indicators suggesting the need for confirmation before entering positions.