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

• CHZUSDT declined by 2.74% over the last 24 hours, closing at 0.04416 after forming bearish reversal patterns.
• Volume increased by ~35%, with turnover peaking around 0.0456, suggesting heightened selling pressure.
• RSI hit oversold territory (<30), indicating a possible bounce but not a reversal without bullish confirmation. • Price traded within a tightening Bollinger Band range before breaking down, signaling a potential continuation. • Short-term support appears near 0.0440–0.0442, with a critical 50-period MA acting as a potential floor.

15-Minute Price Action and Key Levels

Chiliz/Tether (CHZUSDT) opened at 0.04558 on 2025-10-03 at 16:00 ET and reached an intraday high of 0.04621 before declining sharply to 0.04416 at 12:00 ET on 2025-10-04. The price action over the 24-hour period shows a total volume of 27,986,253.0 and turnover of $1,262,857.51 (approximate). A bearish engulfing pattern formed around 17:00 ET (ET +1), followed by a series of lower highs and lower closes. The 20-period and 50-period moving averages are descending, aligning with the bearish momentum and reinforcing short-term bearish bias.

Key support and resistance levels

Price appears to have found short-term support near 0.0442–0.0443, with the 50-period MA now sitting at ~0.0445 as a potential floor. Resistance is forming at the 20-period MA (~0.0447) and the 0.0450 psychological level. A notable bearish pattern—a hanging man—emerged at ~0.04566, suggesting a potential breakdown. A doji at ~0.04554 also indicates indecision and a possible shift in sentiment.

Trend Strength and Momentum

The RSI dipped into oversold territory (<30), suggesting potential for a near-term bounce, though this is likely a correction rather than a reversal. The MACD has been negative throughout the session with a bearish crossover confirmed, reinforcing the downward bias. Bollinger Bands have recently contracted before widening again, indicating a potential breakout or breakdown in progress. Price currently sits near the lower band, indicating elevated volatility and a possible continuation of the bearish trend.

Fibonacci and Volatility Insights

The most recent 15-minute swing from 0.04621 to 0.04416 shows the price has retraced to the 61.8% Fibonacci level (~0.0450), where it has stalled. Daily Fibonacci levels suggest further support at ~0.0440 and ~0.0435, with a breakdown past 0.0442 likely to extend the decline. Volatility remains elevated, with volume and turnover increasing as prices approached key support levels.

Backtest Hypothesis

A backtesting strategy could involve entering short positions on the confirmation of bearish candlestick patterns (e.g., engulfing, hanging man) and a bearish crossover in the MACD. Stops could be placed just above the 50-period MA (~0.0445) to manage risk, with targets aligned with Fibonacci levels at 0.0440 and 0.0435. This strategy would be most effective in a trending bear market and would require careful monitoring of volume and RSI to avoid false breakouts or premature exits.