Market Overview for Zilliqa/Tether (ZILUSDT): Volatility and Weakness in 24-Hour Data

• ZILUSDT declined 2.9% over 24 hours, closing at 0.00719 with a 0.0071–0.0078 range.
• Momentum weakened, with RSI dipping into oversold territory and MACD bearish divergence.
• Volatility expanded in early hours, but turnover dropped alongside price declines after midday ET.
• No strong bullish candlestick patterns emerged; bearish engulfing and doji confirmed weak sentiment.
• Key support at 0.0071–0.0072 is now critical, with 0.00685–0.0069 acting as a deeper floor.

Price Action and Volume Summary

Zilliqa/Tether (ZILUSDT) opened at 0.00754 on 2025-11-02 12:00 ET and closed at 0.00719 on 2025-11-03 12:00 ET, reaching a high of 0.00784 and a low of 0.00685. The total volume traded over 24 hours was approximately 164,397,738.3 ZIL, while the notional turnover amounted to roughly $1,162,470. The price trended lower throughout much of the session, especially after a sharp drop following a peak near 0.0078.

The bearish bias was reinforced by a declining 15-minute EMA(20) and EMA(50), which both trended downward. The price tested key support levels multiple times, especially between 0.0071–0.0072, and failed to reclaim higher ground.

Technical Structure and Momentum

The 15-minute candlestick chart shows several bearish formations, including engulfing patterns and small-bodied candles with long lower shadows—suggestive of rejection at key levels. Notably, a long-legged doji formed around 2025-11-02 21:30 ET, indicating indecision and reinforcing the bearish momentum.

Relative Strength Index (RSI) dipped below 30 during the late ET hours, signaling oversold conditions, but this was not enough to trigger a rebound. The MACD histogram remained negative throughout the session, with a bearish divergence visible as price attempted to form higher lows while the indicator printed lower highs. This suggests bearish continuation is more likely than a reversal.

Volatility and Bollinger Bands

Volatility spiked in the early hours, with Bollinger Bands widening as ZILUSDT approached its 24-hour high. Price quickly moved from the upper band to the lower band within a few hours, indicating strong mean reversion pressure.

By late ET, the price was trading near the lower Bollinger Band, with the 20-period standard deviation at its widest point. This implies increased uncertainty in the short term and suggests the potential for a rebound or a breakdown if key support levels are tested.

Backtest Hypothesis

A recent attempt to backtest the CDLDOJISTAR (Doji Star) candlestick pattern on ZILUSDT from 2022-01-01 to 2025-11-03 resulted in no valid signals. The strict conditions required for a Doji Star—such as a small body, a gap, and a preceding strong candle—were never met, leading to an empty event list and a divide-by-zero error in the backtest engine.

This highlights two key points: first, the ZILUSDT chart lacks frequent occurrences of complex candlestick patterns, and second, relying on rare patterns like Doji Star may not be statistically viable for this pair. A more practical approach may involve using simpler patterns like the Hammer or Morning/Evening Star, which have higher signal frequencies and may offer better actionable insights.