Chiliz/Tether (CHZUSDT) Market Overview – 2025-10-06

• CHZUSDT experienced a volatile 24-hour session, with a 1.15% dip from open to close.
• Price found support near 0.04345 and tested resistance at 0.0444, forming mixed candlestick patterns.
• Momentum indicators suggest easing bullish pressure, with RSI hovering near neutral territory.
• Bollinger Bands widened, signaling increased volatility, while volume remained uneven across the session.
• Turnover spiked during early bearish moves, with volume diverging from price at key pullback levels.

The Chiliz/Tether (CHZUSDT) pair opened at 0.0443 and closed at 0.04446 by 12:00 ET, reaching a high of 0.04444 and a low of 0.04334 during the 24-hour period. Total volume was 60.2 million CHZ, and notional turnover totaled approximately $2.68 million. Price behavior was choppy, with bearish pressure emerging after 18:00 ET and intermittent attempts to reclaim higher ground.

Structure & Formations

Key support was identified near 0.04345, where price consolidated briefly before rebounding. Resistance at 0.0444–0.04444 saw mixed candlestick formations, including a bearish dark cloud cover and a doji suggesting indecision. A sharp drop from 0.0444 to 0.04367 around 18:00 ET formed a potential bear trap for short-term bullish traders.

Moving Averages

On the 15-minute chart, price moved below the 20-period SMA by the evening, confirming a bearish tilt. The 50-period SMA held steady around 0.0439–0.0440, indicating intermediate support. Daily moving averages (50, 100, and 200) remain relatively flat, signaling no clear directional bias on the longer timeframes.

MACD & RSI

MACD turned bearish around 18:00 ET, with the histogram shrinking during late-night consolidation, suggesting weakening momentum. RSI remained in neutral territory (45–55), indicating neither overbought nor oversold conditions. A potential divergence between price and RSI appeared after 00:00 ET, hinting at a possible reversal or consolidation phase.

Bollinger Bands

Bollinger Bands expanded significantly during the early bearish phase, reflecting increased volatility. Price spent most of the session within the bands, with a brief test of the lower band near 0.04345. The narrowing of bands in the early morning suggests a potential consolidation ahead.

Volume & Turnover

Volume spiked during the bearish leg from 18:00 to 20:00 ET, confirming the downward move, while turnover aligned with price action. However, volume during the late-night recovery was relatively low, raising questions about the sustainability of the bounce. Divergences were observed between volume and price during pullbacks, indicating cautious market sentiment.

Fibonacci Retracements

Applying Fibonacci levels to the swing from 0.0444 to 0.04367, key retracement levels include 0.04413 (38.2%) and 0.04424 (61.8%). Price found temporary support at 0.04413 and tested 0.04424 briefly in the late morning. Daily Fibonacci levels on recent swings remain neutral, with no strong support or resistance forming ahead.

Backtest Hypothesis

A potential backtesting strategy could involve using RSI divergence in conjunction with Bollinger Band contractions to identify early-stage consolidation phases. Given CHZUSDT’s behavior over the past 24 hours, a long entry near the 0.04345 support level—confirmed by a break above the 20-period SMA—could be a viable trade setup. Short entries may be considered on a break below 0.0436 with increased volume. The strategy would benefit from using a 15-minute timeframe and targeting 1.5–2.0% per trade.