Market Overview for Zilliqa/Tether (ZILUSDT): 24-Hour Price Action and Momentum Shifts

• ZILUSDT declines over 24 hours with a bearish bias on the 15-minute chart.
• Volume spikes observed in late overnight trading, confirming downward momentum.
• Key support near $0.00745 tested, with resistance retesting at $0.0077–0.0078.
• MACD and RSI signal weakening bullish momentum, with price near the lower Bollinger Band.
• Turnover remains elevated, reflecting increased bearish conviction among traders.

Zilliqa/Tether (ZILUSDT) opened at $0.00783 at 12:00 ET – 1 and closed at $0.00764 at 12:00 ET, reaching a high of $0.0079 and a low of $0.0073. Total 24-hour volume was 99.4 million ZIL, and notional turnover was $753,600, indicating heightened bearish activity.

The price action on the 15-minute chart shows a bearish trend, with a series of lower highs and lower lows, especially from 20:00 to 07:00 ET. A notable bearish engulfing pattern forms around 00:30–01:00 ET, confirming a key reversal from a potential short-term bottom. The price has since found support near $0.00745, a level that aligns with a 61.8% Fibonacci retracement from the recent swing high. Resistance is forming at $0.0077–0.0078, where the price previously struggled to break above during overnight sessions.

The 20-period and 50-period moving averages on the 15-minute chart are currently bearish, with the 50-period line crossing below the 20-period line, forming a potential death-cross. This reinforces the bearish bias. On the daily chart, the 50-day, 100-day, and 200-day moving averages remain in a downtrend, suggesting a continuation of the broader bearish trend.

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The RSI stands at 38.2, indicating slightly oversold conditions, while the MACD is negative with a bearish divergence. Bollinger Bands show a recent expansion, and the price is currently sitting near the lower band, indicating heightened volatility and a potential rebound. However, with volume remaining strong on the downside, a continuation of the bearish trend is more likely in the near term.

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Backtest Hypothesis
The MACD death-cross has historically offered little predictive value for ZILUSDT, with 49 such events recorded from January 2022 to November 2025. On average, returns have remained mildly negative, with a median cumulative loss of ~3% peaking around day 17 and only partial recovery by day 30 (~1.7% loss). Win rates stay below 50%, suggesting no consistent edge in buying after a death-cross. While the recent 15-minute MACD line crossing below the signal line aligns with this pattern, investors should remain cautious, as post-event returns lack statistical significance.

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