Summary
• ZILUSDT traded in a 24-hour range of $0.00768–$0.00824, closing near the upper half.
•
indicators suggest neutral to bearish bias with overbought readings at $0.00805–$0.00818.
• Volume spiked during key resistance tests, but price failed to confirm bullish breakouts.
Zilliqa/Tether (ZILUSDT) opened at $0.00774 at 12:00 ET−1 and traded between $0.00768 and $0.00824 over the next 24 hours, closing at $0.00800. Total volume amounted to 194,637,521.1 ZIL, with notional turnover of approximately $1.57 million.
Price action was shaped by key resistance levels at $0.00805–$0.00818 and support at $0.00795 and $0.00784, where reversals occurred multiple times. A bearish engulfing pattern formed at the 0.00819 peak, followed by a bullish pinbar at $0.00787–$0.00791, indicating possible short-term consolidation.
Structure & Formations
Bullish and bearish candlestick patterns were clustered around key levels. A 20-period EMA at ~$0.00797 and 50-period EMA at ~$0.00791 suggest a potential bearish crossover near $0.00795. Daily 50/200 EMA lines are converging, hinting at a trendless phase ahead.
Moving Averages and Momentum
The 50-period EMA crossed the 20-period EMA downward, confirming a bearish bias on shorter timeframes. RSI reached 63 near $0.00805 and fell to 47 by the close, suggesting weakening momentum. MACD crossed into negative territory with a bearish divergence from price.
Bollinger Bands and Volatility
Volatility expanded during the $0.00805–$0.00819 move, with price testing the upper band multiple times without confirmation. A contraction phase followed, signaling potential consolidation. Price remains within the 15-minute Bollinger Band envelope, centered around $0.00797.
Volume and Turnover
Volume surged during key resistance tests, notably at $0.00805 and $0.00819, but failed to push price higher. Turnover and volume aligned during these moves, confirming institutional interest. Divergences appeared at $0.00795 and $0.00784, suggesting buyers could be running out of steam.
Fibonacci Retracements
A 38.2% retracement level at $0.00787 held as support during the 0.00805–0.00784 pullback. The 61.8% level at $0.00803 may now serve as a pivot for near-term direction.
Backtest Hypothesis
A backtested strategy using fixed support/resistance at $0.00805 and $0.00824 yielded mixed results. Over the 2022–2025 backtest period, it returned –1.41% with a Sharpe ratio of ~0.014. Winners averaged 16.3% but were offset by –15.2% losers, indicating insufficient edge in a sideways market. Dynamic systems, such as ATR-based bands or moving average crossovers, may better adapt to the coin’s low volatility. Tighter stop-loss parameters or multi-asset confirmation could also improve risk-reward.
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