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• ZILUSDT climbed from $0.00792 to $0.00813 in 24 hours, showing steady bullish momentum with a 2.78% gain.
• High volatility and strong volume in the last 6 hours suggest accumulation and potential continuation.
• RSI-14 moved into overbought territory, indicating potential near-term pullback risk.
• Bollinger Bands widened in the afternoon, aligning with increased price swings and higher turnover.
• A key resistance appears at $0.00803, while support is likely found at $0.00799.
Zilliqa/Tether (ZILUSDT) opened at $0.00792 on October 25, 12:00 ET, reached a high of $0.00813, and closed at $0.00813 by October 26, 12:00 ET, with a 24-hour low of $0.00790. The pair saw a total volume of 21,394,635 ZIL and a notional turnover of $173,143 (USD equivalent), reflecting a significant surge in activity after 17:00 ET.
The 15-minute OHLCV data shows a strong bullish bias throughout the day, with a key breakout forming above $0.00800 in the late afternoon. A bullish engulfing pattern formed at the 18:30 ET 15-minute candle, signaling a shift in sentiment. Key support levels appear at $0.00799 and $0.00795, while resistance is clustering around $0.00803 and $0.00806, with a strong high of $0.00813 suggesting further upside potential if buyers remain aggressive.
Bollinger Bands expanded significantly after 17:00 ET, with price reaching the upper band on several occasions, highlighting increased volatility. The RSI-14 crossed into overbought territory at $0.00812, which may raise the risk of a near-term consolidation or pullback. However, the continued strength in volume and turnover—especially after 9:00 ET the next day—suggests that bullish momentum could persist.
Fibonacci retracement levels drawn from the recent swing low of $0.00790 to the high of $0.00813 show 38.2% at $0.00803 and 61.8% at $0.00808. These levels may act as dynamic pivots in the coming sessions. The MACD histogram showed a strong bullish divergence in the late morning and afternoon, while the signal line crossed into positive territory, reinforcing the case for continuation.
The backtest hypothesis relies on RSI-14 as a momentum oscillator. The current RSI-14 at 79.5 supports the potential for a short-term correction, aligning with the overbought condition and recent price structure. If RSI-14 moves below 70, this could signal a potential reversal or consolidation phase. The strategy outlined for backtesting uses daily open prices and assumes a long entry at the next day’s open upon a RSI-14 cross above 70, and an exit upon a cross below 70, making it relevant to the current RSI behavior.
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