Market Overview: Chiliz/Tether (CHZUSDT) 24-Hour Technical Report

Summary
• CHZUSDT formed key resistance at $0.03183 and support at $0.02946 with bullish engulfing patterns near $0.0295–$0.0297.
• Momentum surged above the 20-period MA, with RSI peaking at overbought levels after a morning rally.
• Volatility expanded as price traded outside Bollinger Bands during the late AM-early PM ET rally.
• Turnover spiked 360% above average during the $0.0299–$0.03147 move, confirming bullish conviction.
• A 61.8% Fib level at $0.02994 acted as a short-term pivot, with price rebounding off it sharply.

Chiliz/Tether (CHZUSDT) opened at $0.02953 on 2025-12-05 12:00 ET, surged to $0.03183, and closed at $0.03018 on 2025-12-06 12:00 ET. Total volume was 163.5M CHZ, with $4.88M in turnover, showing strong participation during key rallies.

Structure & Formations

Price found initial resistance at $0.03183 in the morning, followed by a sharp reversal as buyers tested the $0.02994–$0.03003 range, where a bullish engulfing pattern confirmed a short-term bounce. A doji formed near $0.03008–$0.03009, suggesting indecision. Key support emerged at $0.02946, where price stalled twice, forming a potential base for near-term accumulation.

Moving Averages and Momentum

The 20-period MA rose from ~$0.0296 to ~$0.0304, aligning with the midday breakout. RSI climbed into overbought territory (>70) by 06:30 ET, suggesting exhaustion in the rally. MACD diverged slightly, with the histogram narrowing after a strong morning expansion, hinting at a possible pause in momentum.

Bollinger Bands and Volatility

Volatility expanded significantly from 08:00 to 10:00 ET, with price exceeding the upper band by ~1.5%. This expansion was confirmed by a 360% surge in turnover, indicating a shift from consolidation to directional movement. Price closed near the middle band, indicating a potential retest of the $0.03008–$0.03018 range in the next 24 hours.

Volume and Turnover

Volume remained above average for much of the day, especially during the $0.0299–$0.03147 move. Turnover spiked to ~$2.3M between 08:30 and 09:00 ET, coinciding with a 3.5% rally. Notably, volume waned during the $0.0301–$0.0303 consolidation, suggesting a potential pullback to test support at $0.02994.

Fibonacci Retracements

The 61.8% Fib level at $0.02994 acted as a pivot point for short-term traders, with price rebounding sharply after a 0.5% dip. Daily retracements also highlighted $0.02946 as a strong support area, suggesting that further consolidation below $0.0297 could trigger another test of that level.

Price may find near-term direction as it approaches $0.0303–$0.0305 resistance. Traders should monitor for a breakout above $0.0305, which could signal a resumption of the upward trend. However, caution is warranted if volume fails to confirm further moves above this threshold.