Market Overview for Zcash/Tether (ZECUSDT)

Summary
• ZECUSDT surged from $488.07 to $643.24, with a 24-hour high driven by strong buying pressure.
• Volatility spiked with large 15-minute range expansions and a final close near $606.75.
• Turnover surged over $358 million, with volume peaking during the late afternoon ET push.

Zcash/Tether (ZECUSDT) opened at $488.07 on 2025-11-08 at 17:00 ET and reached an intraday high of $643.24, while closing at $606.75 on 2025-11-09 at 12:00 ET. The 24-hour total volume was 601,035.38 ZEC, with a turnover of approximately $358.5 million, reflecting strong liquidity and trading intensity.

Structure & Formations

ZECUSDT displayed a series of bullish continuation patterns, including a strong hammer formation around 19:00 ET and a bullish engulfing pattern at 22:30 ET. Key support levels held at $560–$570, while resistance tested between $600–$610 before a sharp pullback. A doji at $616.99 signaled potential indecision among buyers ahead of the 12-hour mark.

Moving Averages

On the 15-minute chart, the 20SMA and 50SMA crossed over in a bullish fashion during the early afternoon, reinforcing upward momentum. On the daily chart, the 50DMA is approaching the 100DMA from below, suggesting the asset is in a transition phase from bearish to neutral sentiment.

MACD & RSI

The MACD crossed above the signal line in the early afternoon, confirming a bullish crossover. RSI surged to overbought territory (above 70) between 14:00–16:00 ET, but diverged slightly from price during the pullback. This may indicate a temporary pause in the trend but not a reversal unless RSI closes below 50 with a bearish divergence.

Bollinger Bands

Volatility expanded significantly during the 14:00–16:00 ET window as ZECUSDT traded above the upper band of the Bollinger Bands. Prices later retracted toward the mid-band, indicating a possible consolidation phase. A contraction in the bands is likely in the near term unless the upward break continues.

Volume & Turnover

Volume surged to over 25k ZEC during the 14:30 ET 15-minute candle, coinciding with the high of the session. Notional turnover reached $77 million during this period, reflecting strong conviction from buyers. However, the volume during the 12:00 ET close was relatively muted, suggesting a potential pause in aggressive positioning.

Fibonacci Retracements

Key Fibonacci levels were observed during the 15-minute retracements following the 14:30 ET peak. The $607.50 level (38.2% retracement) held firm before the price pulled back further. On the daily chart, the 61.8% retracement level at $618–$620 appears to be a critical psychological threshold.

Backtest Hypothesis

To refine the strategy for detecting MACD golden-cross entry signals, the symbol format may need adjustment to align with the data source's requirements. Using an exchange-qualified ticker like "BINANCE:ZECUSDT" or switching to a more commonly recognized quote asset (e.g., ZECUSDC) could resolve the issue. Alternatively, if you have a list of historical MACD golden-cross dates, those can be directly used for a more precise back-test. This adjustment is necessary to ensure accurate signal generation and validation.