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

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• CHZUSDT drifted lower on rising volume, closing below key support at $0.0401.
• Momentum shifted bearish as RSI and MACD both trended downward.
• Volatility remained compressed with price within Bollinger Bands for most of the session.
• Downturn confirmed by volume spikes during key breakdowns late in the 24-hour window.
• Fibonacci retracements suggest potential for a 61.8% pullback to $0.0395, but bearish continuation possible.

The 24-hour period for CHZUSDT (Chiliz/Tether) from 12:00 ET-1 to 12:00 ET on 2025-09-24 opened at $0.04017, peaked at $0.04086, and bottomed at $0.0390, closing at $0.04046. Total volume across the 15-minute interval dataset was 13,979,464.0 CHZ, and notional turnover was approximately $553,177.40 at the close. The price action displayed a clear bearish slant, with the breakdown below $0.0401 being the most significant structural shift of the session.

Structure and formations were dominated by bearish dominance, with a key bearish engulfing pattern forming after the price broke below $0.0401. A small bearish reversal pattern was also noted around the 2015 UTC timeframe, suggesting exhaustion in the short-term buyers. A bearish harami occurred at 23:30 UTC, further signaling possible distribution. The 20-period and 50-period moving averages on the 15-minute chart were both bearish, with the 50-period line acting as a dynamic resistance. On the daily chart, the 50-period and 200-period moving averages were also bearish, suggesting a continuation of the downtrend is probable.

The MACD showed a negative divergence with price, confirming the bearish momentum. RSI was in oversold territory for short periods but failed to trigger a bounce, reinforcing the bearish sentiment. The Bollinger Bands remained in a tight configuration, indicating low volatility, but the closing price was above the 20-period midline, which could suggest some near-term consolidation ahead. A 61.8% Fibonacci retracement of the recent high-low swing places a key potential level at $0.0395, which could act as a short-term floor if the bearish momentum persists.

Volume and turnover were highly correlated, with sharp spikes observed during the key breakdowns in the early hours of the session. This alignment suggests the bearish move is well-supported by liquidity. Price and turnover diverged slightly in the 19:00–20:00 UTC timeframe, with price falling but turnover stabilizing, indicating possible indecision among traders. However, the subsequent volume spikes confirmed the breakdown.

The backtesting strategy described focuses on identifying bearish reversal patterns in conjunction with bearish momentum indicators such as MACD and RSI. Given the formation of a bearish engulfing pattern, confirmed by MACD divergence and RSI failure to bounce in overbought territory, this strategy would likely have triggered a short signal on this pair. A stop-loss could have been placed above the 20-period EMA, while the Fibonacci 61.8% level could serve as a near-term profit target or stop-loss zone. The volume confirmation during the breakdown adds credibility to the signal and suggests a higher probability of success.

Looking ahead, traders should monitor the $0.04046 level for near-term support and watch for any bearish momentum confirmation via RSI and MACD. A break below $0.0395 would confirm deeper bearish sentiment. While a short-term bounce is possible, the broader bearish context remains intact. As always, position sizing and risk management are critical, particularly given the high volume and volatility seen in this 24-hour window.