Zilliqa/Tether Market Overview

• ZILUSDT edged higher by 2.3% over 24 hours, closing near a key resistance level.
• Volatility expanded during the NY session, with volume surging by 280% after 19:00 ET.
• A bullish breakout attempt formed near 0.01206, confirmed by a higher high and increasing RSI.
• RSI remains neutral (52–58), suggesting potential for further consolidation or a follow-through.
• Bollinger Bands widened during the Asian session, indicating increased market participation and uncertainty.

ZILUSDT opened at 0.01155 (12:00 ET - 1), reached a high of 0.01206, and closed at 0.01209 (12:00 ET) on 2025-09-18. Total volume was 188,689,100.2 ZIL, with a notional turnover of approximately $2,284,943. The pair showed a modest but consistent upward bias, with a breakout attempt forming late in the session.

Structure & Formations

ZILUSDT formed a bullish engulfing pattern around 0.01195 to 0.01205 during the afternoon (UTC+), followed by a series of higher highs and higher closes. A key resistance level appears to have formed near 0.01206, where price tested and bounced off earlier in the day. A small bearish doji formed at 0.01201 near 13:30 ET, suggesting initial hesitation. Notable support levels include 0.01195 and 0.01185, where the pair found temporary buying interest multiple times during the day.

Moving Averages

On the 15-minute chart, the 20-period and 50-period SMAs both trended upward, with the 20-SMA crossing above the 50-SMA in a bullish "golden cross" during the evening. On the daily chart, the 50- and 100-day SMAs are converging near 0.01200, suggesting a potential short-term confluence of support. The 200-day SMA remains bearish at 0.01170, indicating that while short-term momentum is bullish, long-term bearish bias is still in place.

MACD & RSI

The 12/26 MACD crossed above the zero line in the early morning hours, with positive divergence forming after 19:00 ET. RSI remained in neutral territory (52–58), suggesting the move up may not be overextended yet. A strong close above 0.01209 could push RSI into overbought territory, potentially triggering a short-term pullback.

Bollinger Bands

Bollinger Bands expanded significantly during the Asian and European sessions, with price trading near the upper band for several hours. This suggests heightened volatility and increased participation from both long and short positions. The upper band currently sits at around 0.01210, and a close above this could signal renewed bullish momentum.

Volume & Turnover

Volume spiked dramatically after 19:00 ET, coinciding with the breakout attempt above 0.01206. Turnover also increased in line with price action, confirming the strength of the move. A divergence between volume and price occurred during the late NY session when price pulled back slightly but volume remained high, indicating aggressive accumulation at lower levels.

Fibonacci Retracements

On the 15-minute chart, a swing low at 0.01192 and swing high at 0.01206 defines a key Fibonacci structure. The 38.2% (0.01199) and 61.8% (0.01202) retracement levels were both tested and held, suggesting they could serve as key pivot points in the near term. On the daily chart, a 61.8% retracement from a recent high at 0.01220 lies near 0.01195, a level that has already shown support.

Backtest Hypothesis

A potential strategy for backtesting might involve entering long positions on ZILUSDT when price closes above the 15-minute 50-period SMA and RSI crosses above 50, with a stop-loss placed below the most recent swing low. This setup was triggered around 18:15 ET on 2025-09-17 and again after 19:00 ET. The trade would target a 3.5% take-profit near the 0.01212 level, aligned with the upper Bollinger Band and a Fibonacci extension. If price breaks below 0.01195 without a strong volume confirmation, the trade would be reversed, emphasizing tight risk management and dynamic position sizing based on volatility.