Market Overview for Zilliqa (ZILUSDT)

• Zilliqa (ZILUSDT) formed a bullish breakout above key resistance near $0.01215 in early morning hours.
• Momentum surged with an RSI above 55 and MACD divergence suggesting continued upside potential.
• Volatility expanded in 15-minute Bollinger Bands, with price hovering near the upper band for much of the session.
• Volume spiked significantly during the $0.01212–$0.01222 range, confirming accumulation at recent highs.
• A bearish reversal pattern emerged in late ET trading, suggesting possible consolidation or correction near $0.01195–$0.01205.

Zilliqa (ZILUSDT) opened at $0.01196 on 2025-08-09 12:00 ET and closed at $0.01185 by 12:00 ET the following day, reaching a high of $0.01222 and a low of $0.01166. The 24-hour volume totaled approximately 98,612,288 ZIL with a notional turnover of $11,887,611.

Structure & Formations

Price carved a distinct bullish pattern on the 15-minute chart, with a key breakout above the $0.01215 level. This level had previously acted as a psychological ceiling, but a strong volume-driven rally pushed through. A bearish engulfing pattern formed near $0.01205 in late ET trading, hinting at possible profit-taking or a pullback. A doji at $0.01219 suggested indecision at the top of the recent move, with the 61.8% Fibonacci retracement from the $0.01166–$0.01222 swing now aligned at $0.01198, acting as a potential support.

Moving Averages

On the 15-minute chart, the price closed above both the 20-period and 50-period moving averages, suggesting short-term bullish momentum. The 50-period line sat at $0.01207, and the 100-period at $0.01204, indicating a consolidation near key moving averages after the morning breakout. Daily chart averages show the 50- and 200-period lines overlapping near $0.01205, suggesting a potential equilibrium point in the coming days.

MACD & RSI

The 15-minute MACD showed a bullish crossover with the histogram expanding during the early morning surge, confirming the breakout. The RSI rose to 57, well above neutral territory, indicating strengthening buying pressure. However, it did not enter overbought territory, suggesting there may be room for further upward movement. A bearish divergence appeared in the late ET session as price made a higher high but RSI made a lower one, indicating possible exhaustion.

Bollinger Bands

Volatility expanded during the morning push above $0.01215, with the Bollinger Bands widening to reflect increased buying activity. Price spent much of the session near the upper band, especially from 01:00 to 04:45 ET, before retracting to the middle band in the latter half. The 20-period Bollinger Band squeeze at $0.01205–$0.01210 preceded the breakout and was a strong indicator of a potential directional move.

Volume & Turnover

Volume spiked dramatically during the $0.01212–$0.01222 range, peaking at over 2.4 million ZIL in the 04:30 ET candle. This was accompanied by a notional turnover of over $30,000 in that single 15-minute interval, confirming strong conviction behind the move. In the bearish phase from 10:30–12:00 ET, volume declined as price pulled back to the 0.01175–0.01185 range, suggesting weaker bear pressure but not a definitive reversal.

Fibonacci Retracements

The 38.2% Fibonacci retracement from the recent 0.01166–0.01222 swing sits at $0.01197, a level where price found support in early ET trading. The 61.8% retracement at $0.01198 became a key pivot point, with price oscillating around it during the afternoon and evening. On the daily chart, the 50% retracement of the broader 0.01150–0.01225 move is near $0.01187, aligning with recent price action and suggesting a possible support zone for the next 24 hours.

Zilliqa may continue to test the 0.01175–0.01185 consolidation range in the near term, with the 61.8% Fibonacci at $0.01198 offering a potential floor. A close above the $0.01212–$0.01215 range could re-ignite bullish momentum, but traders should remain cautious of the bearish divergence forming in RSI and the bearish engulfing pattern. As always, sudden macroeconomic or exchange-specific risks may alter this outlook.