Market Overview for ether.fi/Tether (ETHFIUSDT)

• ETHFIUSDT opened at 1.628, reaching a high of 1.668 before closing at 1.545.
• A bearish trend dominates with volume peaking at 1.668, reflecting heavy selling pressure.
• RSI and MACD signal oversold conditions, with RSI hitting sub-30 levels.
• Bollinger Bands show significant volatility expansion during the decline.
• A large bearish engulfing pattern formed at the top, followed by a sharp breakdown to key Fibonacci levels.

Ether.fi/Tether (ETHFIUSDT) opened at 1.628 on 2025-09-18 at 12:00 ET, reached a high of 1.668, and closed at 1.545 by the same time on 2025-09-19. The 24-hour period recorded a total volume of 53,000,466.5 and a notional turnover of 82,694,088.85, indicating significant activity and price volatility.

Structure and price formations show ETHFIUSDT forming a strong bearish pattern at the top, with a large engulfing candle at the peak of 1.668. Price then broke below critical Fibonacci levels, notably hitting 61.8% and 50% retracement levels. Key support appears to have been tested around the 1.55–1.56 range, with a potential floor forming at 1.53–1.54. On the 15-minute chart, the 50-period moving average has crossed below the 20-period line, reinforcing bearish momentum.

MACD and RSI both indicate oversold conditions, with RSI dipping below 30 during the late session. This may suggest a short-term buying opportunity, though without a clear reversal pattern, further downside is likely. Bollinger Bands have widened significantly following the breakdown, indicating heightened volatility. Price currently resides near the lower band, signaling continued bearish pressure.

Volume and turnover dynamics reveal strong divergence as price fell: the most significant price drops were accompanied by sharp volume spikes, particularly near the 1.668 and 1.61–1.62 ranges. However, in the final hours, volume diminished, which could indicate weakening conviction. A divergence between price and volume could hint at a potential near-term bottom, but confirmation is needed.

Backtest Hypothesis

A viable backtest strategy could focus on the 15-minute timeframe, targeting the breakdown of key Fibonacci levels and RSI divergence below 30. A short entry could be triggered on a close below the 1.55–1.56 support zone, with a stop above the 1.57–1.58 range. A target could be placed at 1.52, aligning with the 61.8% Fibonacci level from the recent high. This approach would integrate the bearish engulfing pattern and oversold RSI signal for a low-risk, high-reward scenario.