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

Summary
• ZILUSDT formed bullish reversal patterns late in the session, suggesting potential for a rebound from 0.00572.
• Momentum remained mixed with RSI hovering near key levels, indicating indecision in the market.
• Volume spiked during the breakout attempt above 0.0058, but failed to confirm a sustained move higher.

• Bollinger Bands contracted mid-day before expanding, hinting at a period of consolidation followed by increased volatility.
• Fibonacci levels at 0.00585 and 0.00573 were tested multiple times, reinforcing resistance and support zones.

Zilliqa/Tether (ZILUSDT) opened at 0.00565 on 2026-01-16 at 12:00 ET, traded between 0.0056 and 0.00609, and closed at 0.00594 by 12:00 ET on 2026-01-17. Total volume for the 24-hour period was 61,492,000.08 ZIL, with a notional turnover of approximately $357,600.

Structure & Formations

Price found firm support at 0.00572, forming a bullish reversal pattern mid-session. A series of small bullish engulfing patterns and a morning star-like formation suggested a short-covering rally. Resistance levels emerged at 0.00585 and 0.00595, where price stalled multiple times, confirming key psychological barriers.

Moving Averages

On the 5-minute chart, the 20-period MA crossed above the 50-period MA in the early morning, signaling a short-term bullish bias. However, the 50-period MA remained below the 200-period daily MA, indicating a longer-term bearish backdrop.

MACD & RSI

The MACD line crossed above the signal line early in the morning, showing renewed short-term bullish momentum. However, RSI remained in the 45–60 range for much of the day, suggesting market indecision. A brief overbought condition at 65 occurred late in the afternoon, but failed to hold.

Bollinger Bands

Bollinger Bands showed a contraction early in the session followed by a sharp expansion after 20:00 ET, signaling an increase in volatility. Price remained within the bands for most of the day but closed near the upper band, suggesting a potential continuation of the upward move.

Volume & Turnover

Volume spiked sharply between 08:00 and 15:00 ET as price tested key resistance levels, confirming the significance of these levels. Turnover also surged during this period, reaching a daily peak of $67,986, which suggests meaningful participation. However, volume failed to confirm a break above 0.00595, indicating potential short-term resistance.

Fibonacci Retracements

Fibonacci levels from the 0.00572 to 0.00609 swing showed key retracement levels at 0.00585 (38.2%) and 0.00573 (61.8%). Price bounced off 0.00573 twice and stalled at 0.00585, reinforcing the importance of these levels.

Looking ahead, ZILUSDT may test 0.00595 as the next resistance level, with a potential pullback to 0.00581 if buyers falter. Investors should remain cautious of a potential reversal if volume fails to confirm a breakout.