Chiliz/Tether (CHZUSDT) Market Overview – 2025-09-18

• Price for Chiliz/Tether (CHZUSDT) rose from $0.0411 to $0.04331 over 24 hours, closing at a 24-hour high.
• Strong bullish momentum emerged after 19:30 ET with a 0.47% surge on high volume.
• Volatility expanded in the last 8 hours, pushing prices above the 15-min Bollinger Band midpoint.
• Volume spiked to 4.6 million at 20:15 ET, confirming strength in the upward move.
• RSI and MACD suggest overbought conditions, hinting at potential pullback risk ahead.

Market Summary

Chiliz/Tether (CHZUSDT) opened at $0.0411 on 2025-09-17 at 12:00 ET and closed at $0.04331 on 2025-09-18 at 12:00 ET. The 24-hour high was $0.04333 and the low was $0.04086. Total volume reached 66.3 million tokens, with notional turnover of approximately $2.77 million.

Structure & Formations

The price action exhibited a strong bullish bias after the 15-minute candle at 19:30 ET, where it broke above a descending channel and confirmed a bullish engulfing pattern. A doji at 21:30 ET signaled indecision, but buying pressure resumed strongly. Key support levels formed at $0.04206 and $0.0413, while resistance emerged around $0.04317 and $0.04326. A potential double top may form if price stalls above $0.04326.

Moving Averages

On the 15-minute chart, the 20-period SMA crossed above the 50-period SMA early in the evening session, forming a golden cross that supported the bullish move. The 50-period SMA is currently at $0.04275 and acts as a dynamic support. Longer-term, the 50-period and 100-period SMAs on the daily chart appear to be converging from a bearish bias to a neutral stance, suggesting potential for further upside if bullish momentum holds.

MACD & RSI

The 15-minute MACD turned positive at 19:30 ET and remains above the zero line, signaling sustained bullish momentum. The RSI crossed above 60 during the 20:15 ET candle, reaching 63 at the time of writing, indicating overbought conditions. This suggests a short-term pullback may occur, but if RSI holds above 50, the bullish bias remains intact.

Bollinger Bands

Volatility increased notably after 19:30 ET, with the 20-period Bollinger Bands expanding. Price has been trading above the midline since 21:45 ET, indicating bullish strength. The upper band currently sits at $0.0433, aligning closely with recent highs, suggesting a potential reversal if price moves beyond this level without follow-through.

Volume & Turnover

Volume spiked dramatically at 19:30 ET and again at 20:15 ET, confirming the breakout and continuation of the bullish move. Notional turnover also surged in these periods, reaching a peak of $4.3 million. While volume has remained elevated, the last few 15-minute candles show a slight divergence, with volume declining despite price continuing higher—this may indicate reduced conviction in the current trend.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent swing from $0.04086 to $0.04333, the 38.2% retracement is at $0.04221 and the 61.8% is at $0.04178. Price has yet to test the 61.8% level, suggesting further upside potential if it holds above $0.04206. On the daily chart, retracement levels from the recent high and low suggest that $0.04317 and $0.0429 are key psychological levels.

Backtest Hypothesis

The described backtesting strategy appears well-aligned with the current price action and technical setup. A breakout above $0.0433 on increased volume confirms the strategy's long entry signal, with a stop loss below $0.0428 serving as a logical risk management tool. The use of 20/50-period SMAs and RSI provides a clear entry/exit framework. Given the current overbought RSI and strong volume confirmation, this strategy may yield favorable risk-reward outcomes over the next 24–48 hours.