Market Overview: Chiliz/Tether (CHZUSDT) on 2026-01-04

Summary
• CHZUSDT traded between 0.0447 and 0.0461, with a late rally to 0.04609 before consolidating.
• Volume surged to 5.1M at 02:00 ET but faded as price rolled lower.
• RSI hit overbought above 65, while price settled below the 20-period MA on 5-min.
• A bullish engulfing pattern formed at 0.04571–0.04584, followed by a bearish rejection.
• Bollinger Bands tightened midday, suggesting low volatility before a sharp move up.

Opening and Closing Ranges

At 12:00 ET−1, CHZUSDT opened at 0.04512, reaching a high of 0.04609 and a low of 0.04471 before closing at 0.04501 as of 12:00 ET. The 24-hour volume was approximately 23.6M with a notional turnover of 1.08M USDT.

Structure and Momentum

The price formed a bullish engulfing pattern around 0.04571–0.04584, followed by a bearish rejection near 0.04599–0.04573. RSI peaked above 65, suggesting short-term overbought conditions, while MACD showed a mixed signal with a narrowing histogram around 02:00 ET. The price action indicated a possible exhaustion in the upward move.

Volatility and Volume

Bollinger Bands contracted tightly around 0.04544–0.04582 between 04:00 and 05:00 ET, signaling a low-volatility phase before a sharp move up to 0.04609. The highest 5-minute volume spike reached 5.1M at 02:00 ET, coinciding with a rally toward 0.04602. However, price failed to hold above this level, suggesting potential resistance.

Key Levels and Fibonacci

On the 5-minute chart, a 38.2% Fibonacci retracement level around 0.04575 appears to act as a short-term support. A 61.8% level near 0.04546 may also offer support if the current pullback continues. On the daily chart, 0.04515 is a critical level to watch for a potential reversal.

Looking ahead, CHZUSDT may consolidate near the 20-period MA (0.0456) and test the 0.04515–0.04546 support range. A break below this could accelerate the decline. Investors should remain cautious about the potential for a short-term rebound but watch for signs of a broader downtrend forming.