Market Overview: Zilliqa/Tether (ZILUSDT) on 2026-01-05

Summary
• Price fluctuated between key support and resistance zones on 5-minute chart.
• Negative momentum intensified as RSI approached oversold levels in late session.
• Volume remained elevated during price declines, confirming bearish bias.
• Bollinger Bands expanded, signaling increased volatility in the final hours.
• No major reversal patterns emerged; trend remains unresolved heading into the next cycle.

Market Overview

Zilliqa/Tether (ZILUSDT) opened at $0.00527 on 2026-01-04 at 12:00 ET, reached a high of $0.00529, a low of $0.00507, and closed at $0.00511 as of 12:00 ET on 2026-01-05. Total volume for the 24-hour period was 44,541,481 ZIL, and notional turnover was $230,660.

Structure & Formations

The price oscillated between key resistance at $0.00527 and support near $0.00508 throughout the session. Notable bearish engulfing patterns appeared after key resistance breaks, especially in the 4–7 AM ET period. A long lower shadow at $0.00508 around 10 AM ET suggested a temporary buying interest, but it failed to confirm a reversal.

Moving Averages

On the 5-minute chart, the 20-period MA (0.00518) crossed below the 50-period MA (0.00521), reinforcing a bearish bias. For the daily timeframe, while the 50-period MA (0.00525) still offered overhead resistance, the 100-period MA (0.00523) and 200-period MA (0.00522) aligned with the downward trend.

Momentum Indicators

MACD remained negative for most of the session, with a bearish crossover occurring around 2 AM ET. RSI bottomed at ~29 in the late hours of 2026-01-05, indicating oversold conditions. However, price failed to rebound meaningfully, suggesting a lack of conviction in the short-term bottoming action.

Volatility & Bollinger Bands

Bollinger Bands widened significantly during the 5–8 AM ET window as volatility increased. Price tested the lower band around $0.00508 and $0.00509 but did not close above it. The widening bands suggest an ongoing consolidation phase after the previous decline.

Volume and Turnover

Volume surged during the price drop from $0.00527 to $0.00508, particularly between 3 and 5 AM ET. Notional turnover also spiked during the same period, confirming the bearish move. However, volume waned during the attempted rally in the early hours, signaling weak follow-through from buyers.

Conclusion and Forward Outlook

ZILUSDT appears to be consolidating within a descending channel, with the $0.00508 level acting as a near-term floor. Traders may watch for a potential rebound toward $0.00515–0.00517, but a break below $0.00507 could invite further selling. As always, liquidity risks remain, and a sharp move either way could destabilize the current range.