Market Overview for Chiliz/Tether (CHZUSDT)

Summary
• Price declined from $0.03595 to $0.03477 amid uneven volume and bearish momentum.
• A bearish engulfing pattern formed near $0.0359, with RSI indicating oversold conditions below 30.
• Volatility expanded after 19:00 ET, but price failed to reclaim key resistances above $0.0358.

Chiliz/Tether (CHZUSDT) opened at $0.03572 on 2025-12-22 at 12:00 ET, reached a high of $0.03610, and closed at $0.03477 on 2025-12-23 at 12:00 ET, with a low of $0.03447. The 24-hour volume was 65,386,459.0, and total turnover amounted to $2,296,505.

Structure & Formations

Price tested the $0.03595 high twice but failed to sustain above this level, with a bearish engulfing pattern forming at the peak. A notable bearish reversal was reinforced by a large-volume sell-off at $0.03595–$0.03528, marking the low point for the day. Support appears to have held temporarily at the $0.0348–0.0350 cluster, where price has found a base in the final hours.

Moving Averages and Momentum

Short-term averages (20/50-period on 5-min) trended downward after 19:00 ET, aligning with the bearish shift. The 50-period line crossed below the 20-period, signaling bearish momentum. MACD showed a deepening bearish divergence after midday, while RSI dipped into oversold territory below 30, suggesting potential for a bounce but not a reversal.

Volatility and Bollinger Bands

Volatility expanded as price dropped below the 20-period Bollinger Band lower boundary, with the band width widening after 20:45 ET. Price remained within the outer band for most of the session, with a brief touch of the upper band during the early morning rebound.

Volume and Turnover

Volume surged after 20:45 ET (with 7,490,593 units traded) and again at 08:45 ET (2,299,566 units), but price failed to follow through on these spikes, indicating distribution or profit-taking. Turnover and volume remained inversely correlated in the afternoon, signaling potential bearish exhaustion.

Future Outlook and Risk

Price appears to be consolidating near $0.0347–0.0348, with key support at $0.0344–0.0346 likely to be tested if the decline continues. A retest of $0.0357–0.0359 could occur if short-term buyers re-enter. Investors should remain cautious of further downside given the momentum and volume dynamics, and watch for a potential bounce in the near term.