Market Overview for Zilliqa/Tether USDt (ZILUSDT) on 2025-09-06

• ZILUSDT traded in a tight range today, forming no decisive breakouts.
• Price closed near the 0.01122 level after an early morning rally to 0.01145.
• Volatility picked up midday as volume surged to over 5.3 million ZIL.
• RSI signaled overbought conditions, followed by a pullback.
• MACD showed weakening bullish momentum with a bearish cross.

The Zilliqa/Tether USDt (ZILUSDT) pair opened at 0.01125 on 2025-09-05 12:00 ET, reached a high of 0.01145, and closed at 0.01122 on 2025-09-06 12:00 ET, with a low of 0.01119. Total volume for the 24-hour period was 5305948.6 ZIL, and notional turnover reached approximately $60.00 (based on average price). The price action reflected a morning rally and afternoon consolidation.

Structure & Formations

The price action today formed a bearish continuation pattern around the 0.01136–0.01145 range, with a notable bearish engulfing pattern forming near 0.01145, followed by a series of lower highs after 08:00 ET. A small doji appeared at 0.01137, signaling indecision. Key support appears to be forming around 0.01123, while the 0.01136–0.01138 range serves as an initial resistance.

Moving Averages

On the 15-minute chart, the 20-period MA moved slightly higher from 0.01126 to 0.01128 during the morning, but the 50-period MA remained flat around 0.01127–0.01128. On the daily chart, the 50-period MA stands at 0.01130, while the 100- and 200-period MAs hover at 0.01129 and 0.01128, respectively. Price has been below the MAs for most of the day, suggesting a bearish bias.

MACD & RSI

MACD turned bearish as the line crossed below the signal line around 04:30 ET, with the histogram shrinking in size afterward. RSI reached overbought territory above 70 in the early hours but dropped below 60 by late morning, indicating a pullback. The RSI low of 48.2 in the evening suggests moderate oversold conditions, but no strong reversal is in sight.

Bollinger Bands

Bollinger Bands showed a moderate widening in the morning as volatility increased with the rally. Price moved above the upper band at 0.01145 before retracing. By midday, the bands had narrowed again, suggesting a period of consolidation. Price remained near the lower band by the end of the session, signaling potential for a short-term bounce.

Volume & Turnover

Volume spiked significantly around 04:30 ET when price peaked at 0.01145, reaching 5.3 million ZIL traded in that candle alone. Notional turnover spiked in line with this, confirming the price move. A divergence occurred by 06:00 ET as volume declined but price remained in a tight range, suggesting weakening momentum.

Fibonacci Retracements

Applying Fibonacci retracements to the morning rally from 0.01124 to 0.01145, the 38.2% level at 0.01134 and the 61.8% level at 0.01138 served as key support/resistance. Price found resistance at both levels before turning lower. On the daily chart, the 38.2% retracement level from the recent high is around 0.01138, while the 61.8% level is at 0.01134, both of which appear relevant for the next session.

Backtest Hypothesis

A potential short-term trading strategy could involve entering a short position on a bearish engulfing pattern near key Fibonacci levels such as 0.01138 or 0.01134, with a stop-loss placed above the upper Bollinger Band or a 50-period MA. A target could be set at the next support level or a 1:1 risk-reward ratio. This aligns with the observed bearish momentum, confirmed by RSI overbought conditions and the bearish MACD cross.