Market Overview for Chiliz/Tether (CHZUSDT) on 2025-09-20

• Chiliz/Tether (CHZUSDT) traded in a tight range until a sharp intraday pullback to 0.04160 triggered renewed buying interest.
• A 15-minute bullish engulfing pattern emerged around 0.04200 as price bounced from a key Fibonacci level.
• Volatility expanded sharply during the 24-hour window, with intraday range reaching 0.00076 (~1.8%) amid mixed volume dynamics.
• RSI overbought levels were reached twice but failed to sustain breakouts above 0.04240, signaling caution for near-term momentum.
• MACD divergence signaled weakening bullish momentum as price rallied, suggesting potential for consolidation or a reversal.

The Chiliz/Tether (CHZUSDT) pair opened at 0.04204 on 2025-09-19 at 12:00 ET and closed at 0.04201 by 12:00 ET on 2025-09-20, with a high of 0.04280 and a low of 0.04160. Total volume for the 24-hour period amounted to 36,586,726 CHZ, and the notional turnover was $1,535,419. Price action showed a bearish intraday correction followed by a retest of key support levels and a partial recovery.

The pair formed multiple key support and resistance levels over the 24-hour period. A critical support area emerged at 0.04180–0.04160, with price finding bids after the pullback and forming a bullish engulfing pattern at 0.04200. Resistance levels were observed at 0.04220 and 0.04240, with price failing to break through the latter twice. A doji appeared near 0.04240, suggesting indecision and potential for a reversal or consolidation.

The 20-period and 50-period moving averages on the 15-minute chart showed price oscillating between the two, indicating a sideways trend with no clear direction. The 50-period EMA offered mild resistance at 0.04220, while the 20-period line moved in line with price during the rebound. On the daily chart, the 50-period SMA was slightly above 0.04230, and the 200-period SMA acted as a dynamic support at 0.04190. Price closed near the 50 SMA, suggesting moderate bullish bias but with lingering bearish pressure.

MACD lines displayed a bearish crossover during the intraday selloff but failed to confirm a strong bearish move, as the histogram flattened after the bounce. RSI reached overbought territory above 60 at 0.04240, but buyers failed to hold, signaling possible exhaustion. Bollinger Bands showed a clear expansion during the sharp pullback, with price briefly dipping below the lower band at 0.04160 before rebounding. The contraction prior to the pullback suggested heightened volatility, and price now resides within the bands, indicating the move could still continue.

The notional turnover showed significant spikes during the intraday pullback, with a notable $214,500 in turnover at 0.04160 and again near 0.04200, suggesting accumulation. Volume also increased during the rebound, confirming the bullish engulfing pattern. However, a divergence appeared between price and volume during the second leg of the rally, with volume slowing despite a price push to 0.04240. This could hint at a potential stall or reversal in the short term.

Fibonacci retracement levels applied to the intraday swing from 0.04160 to 0.04280 showed that the 61.8% level at 0.04235 acted as a resistance. Price failed to hold above this level, and the 50% retracement at 0.04220 became a key pivot point. On the daily chart, a 38.2% retracement of the recent downtrend from 0.04400 to 0.04160 sits at 0.04280, a level that could offer resistance if the bullish bias continues.

Backtest Hypothesis
A potential strategy could involve entering long positions on the confirmation of a bullish engulfing pattern near the 38.2% Fibonacci retracement level, with a stop-loss placed below the 50% level and a target near the 61.8% retracement. Given the recent divergence in MACD and RSI, a trailing stop might be necessary to manage downside risk. If price holds above 0.04200, the 0.04240–0.04280 zone could offer the next target range, with key support at 0.04180–0.04160 providing a safety net for longs.