Market Overview: Zilliqa/Tether (ZILUSDT) 24-Hour Analysis

• ZILUSDT declined from $0.0115 to $0.01072, forming a bearish trend with expanding volatility and strong bearish momentum.
• RSI and MACD signal overbought exhaustion and weakening bullish momentum, suggesting potential for further downside.
• Key support levels at $0.01095 and $0.01085 are critical, with a large bearish candle and low volume at $0.01072 signaling exhaustion.
• Bollinger Bands show price near the lower band, indicating oversold conditions and potential for a short-term rebound.
• Notional turnover spiked during the sharp decline to $0.01072, with price-volume divergence suggesting potential bearish continuation.

Zilliqa/Tether (ZILUSDT) opened at $0.01133 on 2025-10-03 12:00 ET, peaked at $0.0115, and closed at $0.01073 by 12:00 ET on 2025-10-04. Total volume across the 24-hour period was 72,560,052.8 ZIL, and turnover amounted to $786,175.5 (assuming ZILUSDT price of $0.01073). The price action reflects a strong bearish bias.

Over the 24-hour period, the price formed a descending channel with key resistance at $0.0115 and support at $0.01095. A large bearish candle closed at $0.01072 with relatively low volume, suggesting potential exhaustion at that level. A bearish engulfing pattern and a hanging man pattern were observed in the early part of the session, further reinforcing bearish sentiment. The 20-period and 50-period moving averages on the 15-minute chart show price below both, with the 50-period MA sloping downward, indicating bearish control.

MACD showed a bearish crossover with the signal line crossing below the MACD line, and the histogram displayed negative divergence. RSI dropped below 30 at the end of the session, signaling oversold conditions. Bollinger Bands displayed a wide expansion, with price near the lower band, reinforcing the bearish momentum and indicating increased volatility. A key Fibonacci level at 61.8% of the $0.0115 to $0.01072 move is now at $0.01107, which could act as a potential short-term support.

Looking ahead, ZILUSDT could test the $0.01085 support level or experience a rebound from the $0.01095–$0.01090 range. However, the strong bearish momentum and price-volume divergence suggest further downside is likely if the $0.01095 level fails. Investors should monitor volume patterns and potential bullish reversal signs at key support levels.

The 20-period and 50-period moving averages on the 15-minute chart are both below the current price, showing a bearish bias. A bearish crossover in the MACD and oversold RSI conditions suggest continued pressure toward key support levels. Bollinger Bands have widened, with price near the lower band, reinforcing the bearish momentum.

Backtest Hypothesis
A backtest could be constructed using a strategy that triggers sell entries when the 20-period moving average crosses below the 50-period MA (death cross), RSI falls below 30, and volume spikes. Exit signals could be triggered when price rebounds above the 50-period MA or RSI rises above 40 with confirmation candlestick patterns such as a bullish engulfing or hammer. This strategy aligns with the bearish momentum observed in the recent ZILUSDT price action and could be used to test the effectiveness of these signals in a declining trend.