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

Summary
• Price tested key resistance at 0.0455–0.0458, failing to break through after a bullish morning push.
• Volume spiked sharply during the 06:45–09:00 ET window, confirming a strong buying phase.
• RSI reached 61 in the afternoon, suggesting potential overbought conditions and a possible near-term pullback.
• Bollinger Bands tightened during the 02:00–04:00 ET consolidation, followed by a breakout.
• A bearish engulfing pattern appeared at 02:30 ET, coinciding with a sharp drop in price and volume.

Chiliz/Tether (CHZUSDT) opened at 0.04394 on 2026-01-08 at 12:00 ET, reached a high of 0.04582, a low of 0.04388, and closed at 0.04537 on 2026-01-09 at 12:00 ET. Total volume for the 24-hour period was 11,522,723.0, with notional turnover of 501,705.38.

Structure & Formations

Price action on CHZUSDT showed a strong bullish impulse between 06:45 and 09:00 ET, where the pair rose from 0.04496 to 0.04582, forming an ascending wedge before encountering resistance. A bearish engulfing pattern formed around 02:30 ET as the price fell from 0.04453 to 0.04438, signaling short-term bearish pressure. A doji appeared near 04:00 ET, indicating indecision after a consolidation phase.

Moving Averages

On the 5-minute chart, the 20-period moving average rose from 0.0443 to 0.0450 during the bullish phase, while the 50-period line lagged slightly. On the daily chart, the 50-period line currently supports the price at around 0.0446, with the 200-period line acting as a strong baseline near 0.0435. Price remains above key MA lines, maintaining a bullish bias.

Momentum & Overbought/Oversold Conditions

The RSI hit a peak of 61 in the morning, indicating overbought territory but not extreme levels. A bearish crossover in the MACD occurred around 11:00 AM ET, suggesting a shift in momentum. However, the positive MACD line remained above the signal line until midday, supporting a cautious bullish stance.

Volatility and Bollinger Bands

Volatility contracted between 02:00 and 04:00 ET, as Bollinger Bands tightened, followed by a breakout to the upside. Price remained within the upper band during the morning rally, confirming a strong bullish move. Later in the session, the price fell back toward the middle band, indicating a return to equilibrium.

Volume and Turnover Analysis

The highest volume was recorded between 06:45 and 09:00 ET, with the price rising in tandem with turnover. A divergence appeared between 11:45 and 12:00 ET, where volume declined despite continued price gains, suggesting potential short-term exhaustion.

Fibonacci Retracements

A 5-minute Fibonacci retracement from the 0.04388 low to the 0.04582 high shows the price correcting at the 38.2% (0.0447) and 61.8% (0.0453) levels. On the daily chart, the 61.8% retracement of the previous swing low at 0.0435 would place potential support at 0.0446, which coincided with the 50-day MA.

The market may attempt to break the 0.0455–0.0458 resistance range in the coming 24 hours, but bearish divergence and a weakening MACD suggest caution. A pullback to the 0.0446–0.0448 range appears likely if buyers cannot sustain momentum above current levels. Investors should watch for volume confirmation on any new breakouts.