Market Overview for Zilliqa/Tether (ZILUSDT) – 2025-09-22

• ZILUSDT traded in a narrow range early before a sharp decline, closing 24 hours at 0.01086, down from 0.01183.
• Momentum weakened as RSI approached oversold territory and volume surged during the breakdown.
• Bollinger Bands expanded during the sell-off, indicating increased volatility in the late hours of the 24-hour window.
• A key support level appears to form near 0.01081–0.01084, tested twice, with a potential bounce or breakdown expected.
• No strong reversal candlestick patterns emerged, but the long lower wicks suggest some short-term hesitation.

Zilliqa/Tether (ZILUSDT) opened at 0.01181 on 2025-09-21 at 12:00 ET and traded as high as 0.01184 before declining to a 24-hour low of 0.01042. At 12:00 ET on 2025-09-22, it closed at 0.01086. Total volume over the period reached 115,215,745.8 ZIL, with a notional turnover of $1,244,187.2 (ZILUSDT). The price action reflected a clear downward bias with a breakdown below key intraday support.

Structure & Formations

The 24-hour period saw a steady erosion of bullish momentum as the price moved from a tight consolidation phase to a decisive breakdown. Key resistance levels at 0.01180–0.01184 were tested multiple times, with the price failing to hold above them after 19:30 ET. A breakdown occurred below 0.01170 at 17:00 ET, followed by a sharp drop to 0.01042 at 06:15 ET. The price eventually found support near 0.01081–0.01084, where it has been hovering for the last 5–6 hours. A bearish engulfing pattern formed during the breakdown phase, and a series of long lower wicks suggest some short-term buyers stepped in, but the overall structure remains bearish.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both remained above the price for much of the session, reinforcing the bearish bias. The 20 SMA crossed below the 50 SMA around 19:00 ET, confirming a short-term bearish divergence. On the daily chart, the 50/100/200-period moving averages are all above the price, but the 50 SMA is closing in on the 100 SMA, suggesting the longer-term bearish bias may be losing some strength as the trend slows.

MACD & RSI

The MACD turned negative early in the session and continued to diverge lower as the price fell, confirming the bearish momentum. By 06:00 ET, the MACD line had crossed well below the signal line, indicating strong bearish continuation. The RSI reached oversold territory near 30 by 07:30 ET, which could hint at a short-term bounce but does not confirm a reversal. The divergence between price and RSI suggests a potential for a bounce, but the bearish trend remains intact.

Bollinger Bands

Bollinger Bands showed a period of contraction between 15:00–17:00 ET, suggesting a consolidation phase before the breakdown. The subsequent expansion, particularly after 19:00 ET, reflects increased volatility and a sharp move lower. The price spent most of the day below the 20-period moving average and remained within the lower band for much of the session, reinforcing the bearish sentiment.

Volume & Turnover

Volume spiked sharply during the breakdown phase, with over 40 million ZIL traded between 05:00–07:00 ET, corresponding to a 30% drop in price. This high-volume sell-off was accompanied by a large notional turnover spike, suggesting institutional or large-scale selling. Later in the session, volume decreased, with turnover stabilizing around $10,000/hour. The divergence between price and volume in the final hours suggests the bearish move may be exhausting, but no clear reversal signals have emerged.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute swing from 0.01184 (high) to 0.01042 (low), the price found support near 0.01081, aligning with the 38.2% level. This suggests a possible short-term rebound, though a breakdown below the 61.8% level at 0.01064 could confirm a deeper bearish move. On the daily chart, the 38.2% level from the previous high remains intact, but the price appears to be testing the lower bounds of a broader descending channel.

Backtest Hypothesis

A potential backtesting strategy involves entering short positions on a bearish engulfing pattern formation or a breakdown below a key support level, confirmed by a surge in volume and a divergence in RSI. A stop-loss could be placed above the nearest resistance, while a take-profit could be set at either the 61.8% Fibonacci level or the next bearish target based on Bollinger Bands. Given the current price hovering near 0.01081–0.01084, a breakout below this level with increasing volume could trigger a new short entry. This approach would require careful risk management, as the market may test support before continuing lower.