Market Overview for Chiliz/Tether (CHZUSDT) on 2025-10-04

• Price declined from 0.0462 to 0.04504 over 24 hours with bearish bias.
• Oversold RSI levels and Bollinger Band contraction suggest potential short-term reversal.
• Volume surged early, then declined, pointing to waning selling pressure.
• 15-minute chart shows bearish engulfing patterns and failed bullish attempts.
• Fibonacci retracement indicates possible support at 0.0450–0.0454 levels.

Market Summary

Chiliz/Tether (CHZUSDT) opened at 0.04558 on October 3 at 12:00 ET and traded between 0.0450 and 0.0462 over the 24-hour period, closing at 0.04504 on October 4 at 12:00 ET. Total volume reached 37,358,199.0, while total turnover amounted to 1,704.76 USD (approximate based on OHLCV). The pair exhibited bearish momentum, with increasing selling pressure observed during the early part of the session.

Structure & Formations

The 15-minute OHLC data reveals bearish engulfing patterns during key declines, particularly in the 17:00–18:30 ET window, confirming bearish sentiment. A doji formed near 0.04503–0.04516, suggesting indecision among traders. Resistance levels are apparent around 0.0457–0.0461, while key support appears near 0.0450–0.0454.

Moving Averages

On the 15-minute chart, price has been below the 20-period and 50-period moving averages, indicating a short-term bearish bias. On the daily chart, if the 50-day and 200-day moving averages are considered, they would likely be higher than the current price level, reinforcing the bearish trend.

MACD & RSI

The RSI indicator reached oversold levels near 30–35 during the session’s final hours, suggesting a potential rebound. The MACD histogram has been negative throughout the period, with a bearish crossover visible in the 17:30–18:15 ET timeframe. This confirms a lack of upward momentum and sustained bearish pressure.

Bollinger Bands

Volatility expanded during the early part of the session, as seen by the widening of Bollinger Bands. Price has spent most of the time below the 20-period lower band on the 15-minute chart, signaling a strong bearish phase. A contraction in the bands occurred during the final 4 hours, potentially indicating a setup for a reversal.

Volume & Turnover

Volume surged in the first 2 hours of the session, with a large candle at 16:00–17:00 ET. This was followed by a sharp drop in volume, suggesting waning bearish conviction. Notional turnover was also higher in the early part of the session, aligning with the volume pattern. Divergence between volume and price could indicate a near-term reversal.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute swing from 0.0462 (high) to 0.04504 (low), key levels include 38.2% at 0.0456 and 61.8% at 0.0453. The price has tested the 61.8% level in the last 4 hours, suggesting a possible bounce from that area if support holds.

Backtest Hypothesis

A potential backtesting strategy for CHZUSDT could involve using a combination of the RSI and Bollinger Band squeeze. A long entry might be triggered when RSI re-enters the 30–35 oversold range and price closes above the 20-period moving average, with a stop-loss below the most recent low and a take-profit aligned with the 38.2% Fibonacci level. This approach would align with the observed price behavior and volatility patterns seen in the past 24 hours. The strategy assumes that the market may respond to oversold conditions with a short-term rebound, especially if volume declines and the Bollinger Bands begin to contract.