Zilliqa/Tether Market Overview: ZILUSDT 24-Hour Price Action and Momentum Insights

• ZILUSDT surged to a 24-hour high of $0.01141 before retracing to close at $0.01133
• Strong bullish momentum seen in 15-minute candles with positive RSI and expanding Bollinger Bands
• Price consolidating around key resistance level of $0.01135 after early morning break
• Volume and turnover aligned with price action, confirming intraday strength
• Notable 15-minute engulfing and inside bar patterns suggest potential trend continuation

24-Hour Summary and Context

Zilliqa/Tether (ZILUSDT) opened at $0.011 on 2025-10-02 12:00 ET, surged to a high of $0.01141, and closed the 24-hour period at $0.01133 by 12:00 ET on 2025-10-03. The total trading volume for the day was approximately 66,625,000 ZIL, with a notional turnover of $7,537,694.50. Price action shows a strong bullish bias with key resistance tested and partially held.

Structure & Formations

The 15-minute candles reveal a robust bullish structure, with price forming multiple engulfing patterns during the late evening and early morning hours, especially between 19:00–20:00 ET and 02:00–04:00 ET. A notable inside bar pattern appeared at 05:00 ET, suggesting a potential consolidation period. Price then retested key resistance levels at $0.01135 and $0.01136, but failed to hold above them, indicating the possibility of a retracement or sideways consolidation phase. Strong support appears to be forming around the $0.01128–0.01130 zone, marked by several bullish hammer and neutral doji patterns.

Moving Averages

On the 15-minute chart, the 20-period and 50-period SMAs show a bullish bias, with the 20SMA crossing above the 50SMA (a golden cross) during the early morning hours. This reinforces short-term bullish momentum. The 50-period daily SMA is currently at $0.01126, indicating the current price is above its mid-term trend, suggesting a continuation of the recent upward bias is likely in the near term.

MACD & RSI

The MACD line and signal line crossed above zero during the 19:00–20:00 ET window, signaling a strong bullish crossover. The RSI moved into overbought territory above 65 during this period, but has since pulled back to the mid-50s, suggesting that momentum may be stabilizing. This could indicate a short-term consolidation phase before the next move.

Bollinger Bands

Bollinger Bands expanded significantly during the late evening and early morning surge, with price touching the upper band several times. This expansion typically indicates increased volatility. The narrowing of the bands later in the day (especially after 05:00 ET) suggests a potential reversal or continuation point. Price has remained within the bands for most of the day, with no clear breakout at the close.

Volume & Turnover

Volume surged during the late evening and early morning hours, peaking at over 6.5 million ZIL traded in the 19:30 ET candle. Notional turnover spiked to over $73,000 during this time. Volume and price action were in alignment during this period, confirming the bullish momentum. However, the volume has since declined, indicating that the buying pressure may be waning slightly. The last 4 hours have shown moderate volume, suggesting a potential pause in the upward trend.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent 15-minute swing from $0.01111 to $0.01141, key levels at 38.2% ($0.01129), 50% ($0.01126), and 61.8% ($0.01123) are currently being tested. The price action has found support near the 50% level and is now consolidating around the 38.2% level. On the daily timeframe, Fibonacci levels from the prior week’s swing show the 61.8% level at $0.01119, which appears to be the next key support if the current trend reverses.

Backtest Hypothesis

Given the strong bullish structure and confirmed momentum via the golden cross in moving averages, the MACD crossover, and volume confirmation during the late evening/early morning hours, a potential backtest strategy could involve entering long positions on a breakout above $0.01136 with a stop loss just below $0.01128. This aligns with the Fibonacci 38.2% level and the support zone identified by multiple candlestick formations. If the price breaks and holds above $0.01136, it could target the 61.8% Fibonacci extension at $0.01139. A trailing stop at the 50% level ($0.01126) may also help secure gains if the trend continues.