Market Overview for Chiliz/Tether (CHZUSDT) - 24-Hour Summary

• Chiliz/Tether (CHZUSDT) broke below key support of 0.04340, signaling bearish momentum and increased selling pressure.
• A sharp decline to 0.04209 suggests a possible short-term reversal, but lacks immediate confirmation.
• Volatility spiked following a breakout of a 15-minute Bollinger Band, indicating heightened uncertainty.
• Turnover spiked during the 7:15 AM to 9:30 AM ET window, aligning with price declines—confirming bearish sentiment.
• RSI entered oversold territory (30s), hinting at potential near-term rebound, though a reversal remains unconfirmed.

Chiliz/Tether (CHZUSDT) opened at $0.04346 on 2025-09-18 12:00 ET, and closed at $0.04223 by 2025-09-19 12:00 ET. The pair reached a high of $0.04394 and a low of $0.04209 during the period. Total traded volume amounted to 13,707,906.0 CHZ, with a notional turnover of approximately $578,642 (assuming $0.0422 average price for turnover calculation).

Structure & Formations

The 24-hour candlestick pattern reveals a strong bearish bias, with price action breaking down from key resistance levels of 0.04340 and 0.04380. A notable 15-minute bearish engulfing pattern formed at 19:30–19:45 ET, confirming downward momentum. A bearish divergence appears between the price low at 0.04209 and a slightly higher RSI low, which may signal a potential short-term bounce. However, a reversal remains unconfirmed without a close above the 0.04260–0.04265 level. The 0.04260 level also represents a 61.8% Fibonacci retracement of the 0.04346–0.04209 move, making it a critical psychological and technical level for near-term support.

Moving Averages

On the 15-minute chart, the 20-period moving average has crossed below the 50-period SMA, forming a bearish "death cross" pattern. Daily moving averages show the 50-period line below the 200-period, reinforcing the bearish trend. A break below the 50-period daily MA (0.0435) would confirm a deeper bearish phase. Price remains below all major moving averages, reinforcing the negative bias.

MACD & RSI

The MACD for the 15-minute timeframe shows a bearish crossover with the histogram contracting in negative territory, suggesting weakening momentum. RSI has reached the oversold region (30s) but lacks a clear reversal signal. The divergence between price and RSI during the 0.04209–0.04222 bounce may indicate a short-covering opportunity, though a bullish reversal is not yet confirmed. A close above 0.04260 would be required to shift the RSI into neutral territory.

Bollinger Bands

Volatility spiked during the breakdown phase, with price touching the lower Bollinger Band at 0.04209. A bounce off this level saw a retest but failed to break above the middle band. The width of the bands has widened, indicating increased uncertainty in the market. A retest of the lower band may trigger a countertrend bounce, but without a clear reversal pattern, the bearish bias remains intact.

Volume & Turnover

Trading volume surged during the 7:15–9:30 ET window, coinciding with the breakdown from 0.0429 to 0.04223. This volume spike confirmed the bearish move and reinforced the strength of the sellers. However, turnover volume has since cooled off, suggesting a potential exhaustion of immediate bearish energy. A divergence between price and volume may hint at weakening bearish control, though the overall downtrend remains intact.

Fibonacci Retracements

A 61.8% retracement level at 0.04260 now serves as key support, with the 38.2% level at 0.04314 offering a potential near-term resistance on any bounce. If CHZUSDT breaks below 0.04209, the next Fibonacci level to watch is 0.04160, which could be a target for further downside. These levels can act as psychological barriers and potential reversal zones for traders to monitor.

Backtest Hypothesis

A potential backtesting strategy could involve taking short positions on a bearish engulfing pattern, particularly when it forms below a key Fibonacci retracement level (e.g., 0.04260) and is confirmed by a closing price below the lower Bollinger Band. Stops could be placed above the 0.04300 level, while initial targets could align with the 61.8% retracement at 0.04160. This strategy would aim to capture the continuation of the bearish momentum seen during the breakdown phase. Given the RSI oversold condition, a trailing stop or partial profit-taking at the 0.04260–0.04270 zone could help manage risk while securing gains.