Zilliqa/Tether (ZILUSDT) 24-Hour Market Overview

• ZILUSDT drifted lower in a volatile 24-hour window, closing below its opening level with a muted bullish bias in late hours.
• Key resistance capped at 0.01085, while support tested near 0.01070–0.01072, with volume surges indicating bearish continuation.
• RSI signaled overbought levels in midday, followed by bearish divergence in late hours, suggesting potential near-term exhaustion.
• Bollinger Bands expanded post-04:00 ET, indicating growing volatility, with price consolidating in the lower half of the channel.

Zilliqa/Tether (ZILUSDT) opened at 0.01082 at 12:00 ET−1, reached a high of 0.01099, and closed at 0.01089 by 12:00 ET today. The pair saw a low of 0.01064 and traded on a total volume of 68,038,456.2 ZIL and a notional turnover of $7,370,772.40 (ZILUSDT), reflecting moderate activity across volatile conditions.

Structure & Formations

The 15-minute chart revealed bearish dominance with a key 0.01085 resistance level repeatedly failing to hold, particularly after 20:00 ET. A strong bearish engulfing pattern appeared at 04:00–04:15 ET as price moved from 0.01083 to 0.01082, confirming downward momentum. A bearish doji formed at 03:00–03:15 ET (0.01071–0.01073) as sellers regained control after a brief rebound. Key support levels emerged around 0.01070–0.01072, where price found a floor multiple times, suggesting a potential consolidation area.

Moving Averages

On the 15-minute chart, the 20SMA and 50SMA both crossed below key swing highs, reinforcing the bearish bias. Price tested the 20SMA multiple times but failed to hold above it. The 50SMA now resides at 0.01085, acting as a dynamic overhead resistance. On the daily chart, ZILUSDT remains below the 50DMA at 0.01089, 100DMA at 0.01093, and 200DMA at 0.01097, suggesting a potential path lower if the short-term trend continues.

MACD & RSI

The MACD crossed into negative territory by 20:00 ET, confirming bearish momentum, with a bearish histogram trend through 09:00 ET. RSI peaked at 66 in midday, then dropped to 47 by 12:00 ET, indicating a bearish reversal. A bearish divergence between price and RSI after 03:00 ET suggests weakening bullish momentum. Overbought conditions in the first half of the session were followed by oversold territory late, hinting at a possible correction or range consolidation.

Bollinger Bands

Bollinger Bands expanded significantly after 04:00 ET, with the 20-period standard deviation widening from 0.00003 to 0.00012, signaling increased volatility. Price remained within the lower half of the channel for much of the session, particularly between 03:00–08:00 ET, before testing the upper band briefly around 06:45 ET. A contraction between 22:00–04:00 ET preceded the breakout, suggesting a potential continuation of the current bearish trend.

Volume & Turnover

Volume spiked during key bearish breakouts, particularly after 04:00 ET, when a large 0.01085–0.01082 bearish engulfing move occurred. Notional turnover reached a high of $231,734.37 during the 06:30–06:45 ET timeframe. Divergence between bullish price action and declining volume in the early morning hours hinted at weakening buyers. The most significant volume surges correlated with price breaks of key levels, confirming bearish continuation.

Fibonacci Retracements

Fibonacci levels on the recent 0.01064–0.01099 swing highlighted key psychological resistance at 0.01084 (61.8%) and support at 0.01075 (38.2%). Price tested the 0.01075 level multiple times between 03:00–05:00 ET before pushing lower. The 61.8% level held as a short-term ceiling during the 05:30–06:45 ET window, reinforcing its significance. A break below 0.01070 would target 0.01064, the 100% extension level, with high conviction.

Backtest Hypothesis

The backtesting strategy described involves using a 15-minute timeframe with a combination of 20SMA/50SMA crossovers, RSI divergence, and volume confirmation for bearish signals. Given the current setup—where price is below both SMAs, RSI shows bearish divergence, and volume surges confirm key breakdowns—a short entry near 0.01085 with a stop above 0.01089 and a target at 0.01070 could be a viable candidate for execution. This strategy could be validated by historical data if tested on prior bearish breakdowns where similar conditions emerged.