Market Overview: Zilliqa/Tether (ZILUSDT) 24-Hour Analysis as of 2025-09-24

• ZILUSDT opened at $0.01097 and closed at $0.01101, with a 24-hour range from $0.01073 to $0.01109.
• A notable rebound from $0.01073 to $0.01103 was supported by rising volume, indicating renewed bullish interest.
• RSI reached overbought territory near 70, suggesting potential short-term profit-taking.
• Bollinger Bands showed contraction before the final 4-hour stretch, pointing to a possible breakout.
• Turnover spiked during the 15-minute candle ending at 15:15 ET, reaching $3.20 million on strong volume.

Zilliqa/Tether (ZILUSDT) opened at $0.01097 at 12:00 ET–1 and closed at $0.01101 as of 12:00 ET, with a daily high of $0.01109 and low of $0.01073. Total trading volume reached approximately 54.14 million ZIL, while notional turnover amounted to $5.86 million. Price action revealed a consolidation phase followed by a sharp late-day rally, with the most aggressive move occurring between 15:00 and 15:15 ET.

Structure & Formations

The pair formed a bullish breakout from a descending triangle structure following a key support level at $0.01073. A strong bullish engulfing pattern was observed at the $0.01096–$0.01102 range, confirming a reversal of short-term bearish momentum. A doji appeared at $0.01096 during the 14:45 ET candle, signaling indecision. The late-day rally suggests buyers are asserting control, with Fibonacci retracements indicating potential resistance at 61.8% ($0.01107) from the recent swing low.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed to the bullish side late in the session, aligning with price action. The daily 50-period SMA sits at $0.01099, while the 200-period SMA is at $0.01083. Price has remained above both key levels, indicating a strong short-term uptrend.

MACD & RSI

The MACD line crossed above the signal line late in the session, confirming bullish momentum. RSI reached a peak of 70.1 near the close, suggesting overbought conditions and a possible pullback in the short term. However, divergence was not observed between RSI and price, implying strong conviction among buyers.

Bollinger Bands

Bollinger Bands showed a period of contraction from 06:00 to 12:00 ET, tightening around the $0.01091–$0.01098 range. This was followed by a breakout to the upside as the 20-period SMA crossed above the midline. Price closed near the upper band at $0.01103, suggesting continued bullish bias but with increasing pressure to consolidate.

Volume & Turnover

Volume surged to 391,445 ZIL during the 15:15 ET candle, coinciding with a high of $0.01103. Turnover during that period reached $4.30 million, the highest of the session. A volume divergence occurred during the 14:45–15:00 ET period, where price moved higher on diminishing volume, hinting at potential exhaustion.

Fibonacci Retracements

Applying Fibonacci to the $0.01073–$0.01109 swing, 38.2% and 61.8% levels are at $0.01089 and $0.01107, respectively. Price held above the 38.2% level throughout the session and pushed past the 61.8% level in the final 4 hours. This suggests that further upside is likely, but with a risk of consolidation near $0.01107–$0.01109.

Backtest Hypothesis

Given the strong late-day volume and RSI overbought condition, a potential short-term reversal is plausible. A backtesting strategy based on the 15-minute RSI crossover above 70 and a bullish engulfing pattern could be explored. Entering a long position on a confirmed breakout above $0.01103, with a stop-loss placed below the 61.8% Fibonacci level at $0.01107, appears to align with the observed price dynamics. This setup would capitalize on bullish continuation with a defined risk threshold.