Market Overview: Zcash/Tether (ZECUSDT) – 24-Hour Technical Summary (2025-09-20)

• Zcash/Tether (ZECUSDT) closed near its 24-hour high, showing strong upward bias after a midday pullback.
• Momentum accelerated in the last 6 hours, with RSI surging past 65 and MACD confirming bullish divergence.
• Volatility expanded, with price moving 1.6% above its 24-hour Bollinger Band midpoint.
• Notional turnover spiked by ~60% in the last 4 hours, confirming rising conviction in the upward trend.
• A key support level at $49.30 held, while $50.12 and $50.45 appear as short-term resistances.

Zcash/Tether (ZECUSDT) opened at $48.84 on 2025-09-19 at 12:00 ET and closed at $50.15 on 2025-09-20 at 12:00 ET. The 24-hour high reached $51.29, while the low was $48.44. Total volume across the 15-minute OHLCV data was 25,742.95 ZEC, and notional turnover amounted to approximately $1,287,147.60 USD (based on average ZEC price of $50.00).

Structure & Formations

ZECUSDT formed a bullish breakout pattern after a consolidation phase between $49.10 and $49.40. Price broke above the descending resistance channel around $49.70–$49.90, forming a series of higher highs and higher lows. A key bullish engulfing candle appeared at $49.70–$49.81 (06:30–06:45 ET), followed by a long-bodied candle confirming the breakout. A doji at $49.46–$49.46 (21:15–21:30 ET) marked a short-term pause before the upward move resumed. Notable support levels include $49.30 and $48.85, while resistance levels are at $50.12, $50.45, and $50.80.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages (SMA) crossed above key support levels, forming a bullish crossover. The 20SMA at ~$49.62 and the 50SMA at ~$49.77 reinforced the upward bias. On the daily chart, the 50SMA (last known at ~$48.90) is being approached from above, while the 200SMA remains lower at ~$48.55, indicating a strong short-term bullish bias but a need for confirmation on the longer-term trend.

MACD & RSI

The 12-26-9 MACD crossed into positive territory during the morning session and remained bullish throughout the day. The histogram showed increasing divergence, especially between 05:00 and 08:00 ET, confirming the upward momentum. The RSI reached 68 at close, indicating overbought conditions but not extreme overbought levels (above 70). The RSI divergence between 01:15 and 05:45 ET showed a bullish trend, with price making higher highs and the RSI making higher lows.

Bollinger Bands

Volatility expanded significantly in the morning as price broke out from a tight channel between $49.20 and $49.50. The 20-period Bollinger Bands widened to a 2.8% range by 08:00 ET, with price closing near the upper band. The middle band (SMA) remained at ~$49.75, and the upper band at ~$50.50. Price currently sits just below the upper band, suggesting potential for a retest of key resistance levels.

Volume & Turnover

Volume spiked during the breakout phase, especially between 06:30 and 08:00 ET, with an average of ~500 ZEC per 15-minute bar. The largest 15-minute volume bar occurred at 08:45 ET, with 4,300.886 ZEC traded. Notional turnover increased by 60% during the last 4 hours of trading, aligning with the price surge. No major divergence between volume and price action was observed, indicating strong conviction in the bullish move.

Fibonacci Retracements

Fibonacci retracements applied to the 15-minute swing from $48.44 to $51.29 show the price is currently near the 78.6% level (~$50.12), suggesting a potential for either a retest of that level or a continuation above it. On the daily chart, the recent high is ~$51.29 and the prior low is ~$48.44, placing the current price near the 61.8% retracement level (~$49.85). A break above $50.45 could confirm a deeper bullish phase.

Backtest Hypothesis

Given the current technical setup—bullish divergences in RSI and MACD, a breakout above key resistance, and a strong volume profile—this market could be ideal for a short-term breakout strategy. A potential backtest hypothesis involves entering long at a 1.5% retest of the breakout level ($50.12), with a stop-loss placed below the 61.8% Fibonacci level ($49.85). A take-profit target could be set at the next key resistance level ($50.80), with a time horizon of 4–6 hours. This approach aligns with the observed momentum and confirms the strength of the current bullish bias.