Market Overview: Zilliqa (ZILUSD) 24-Hour Performance

• Zilliqa opened at $0.01137 and closed at $0.01115 over 24 hours, with a range of $0.01111 to $0.01141.
• Momentum slowed toward the close, with RSI indicating oversold conditions and MACD bearish divergence.
• Volatility remained low, with price consolidating within Bollinger Bands for most of the session.
• Volume was concentrated in early and late trading, with minimal notional turnover during midday.
• A bullish reversal pattern formed in the early morning, but it failed to hold through increased selling pressure.

Zilliqa (ZILUSD) opened at $0.01137 on 2025-08-31 12:00 ET, reaching a high of $0.01141 and a low of $0.01111 before closing at $0.01115 on 2025-09-01 12:00 ET. Total volume over the 24-hour window was 156,495.5 ZIL, while notional turnover amounted to $1,735.57 USD.

Structure & Formations

The 15-minute OHLCV data reveals a bearish consolidation from the $0.01141 high, with a failed bullish reversal pattern forming around 02:30–03:30 ET. A small bearish engulfing pattern followed later in the morning, indicating bearish momentum. A key support level appears to have formed near $0.01111–$0.01113, where price found a floor multiple times. A shallow doji formed around 04:45 ET, suggesting indecision. Price has remained in a tight range, with no significant breakouts observed.

Moving Averages and MACD/RSI

On the 15-minute chart, the 20-period moving average (SMA) has been bearishly aligned with the 50-period SMA for most of the session, with the 50 SMA crossing below the 20 SMA in early morning trading, confirming a bearish trend. The MACD remained negative throughout the session, with a bearish crossover at around 03:30 ET. RSI has dropped below 30, indicating oversold conditions, though a bounce back is unlikely without a significant bullish reversal. The bearish divergence between price and MACD suggests continued downward pressure.

Bollinger Bands and Volatility

Volatility has been low, with price staying tightly within the Bollinger Bands for most of the day. A contraction in the band width occurred from 02:00–05:00 ET, followed by a mild expansion as selling pressure increased. The price has remained near the lower band for extended periods, suggesting oversold conditions without a clear breakout. A volatility expansion could precede a reversal, but this remains unconfirmed.

Volume and Turnover

Volume was concentrated in the early morning and late evening sessions, with spikes in trading activity at 03:30 ET (11183.1 ZIL), 09:00 ET (12446.2 ZIL), and 02:15–02:30 ET (931.6 + 2218.4 ZIL). Turnover spiked in tandem, but the lack of volume during midday hours suggests limited participation. A divergence between volume and price is observed in the late morning, with a sharp decline in volume despite a continued downtrend. This could indicate a potential near-term bottoming process.

Fibonacci Retracements

Applying Fibonacci retracements to the 15-minute swing from $0.01141 to $0.01111, key levels are at 38.2% ($0.01127) and 61.8% ($0.01118). Price briefly tested $0.01118 at 08:00 ET before rebounding but ultimately failed to hold above this level. The 61.8% retracement now appears to be acting as a dynamic resistance-turned-support. On the daily chart, the same retracement levels suggest potential reversal zones if ZILUSD moves back toward the $0.01127–$0.01133 range.

Backtest Hypothesis

The backtest strategy hinges on identifying key support levels using Fibonacci retracements and combining them with RSI-based entries and Bollinger Band volatility triggers. A long entry could be triggered on a bullish breakout above the 61.8% retracement level ($0.01118), confirmed by a RSI rebound above 30 and a volume spike. A short entry could be considered on a bearish breakdown below the 38.2% retracement level ($0.01127), with a stop just above that level. The Bollinger Band squeeze from 02:00–05:00 ET could have been a potential entry setup, but the lack of follow-through suggests a false signal. This approach may work best in range-bound markets, where price action is confined to clear support and resistance levels.