Market Overview: Ethereum/Dai (ETHDAI) 24-Hour Summary for 2025-09-18

• Ethereum/Dai (ETHDAI) closed at 4586.09, up from 4495.92 amid a 24-hour high of 4658.1 and low of 4440.84
• Price trended higher late in the day, with a sharp 15-minute rally from 4608.12 to 4658.1 after 23:00 ET
• RSI showed overbought conditions briefly above 70, indicating potential near-term pullback
• Bollinger Bands expanded as price moved near the upper band, signaling increased volatility
• Volume spiked during 22:30–23:30 ET with high notional turnover, confirming strong buying pressure

Ethereum/Dai (ETHDAI) opened at 4495.92 on 2025-09-17 at 12:00 ET and closed at 4586.09 at 12:00 ET on 2025-09-18. The pair reached a high of 4658.1 and a low of 4440.84 over the 24-hour period. Total traded volume amounted to 76.27 ETH, with a notional turnover of approximately 349,087.59 DAI, reflecting strong market participation.

Structure & Formations

The 15-minute ETHDAI chart exhibited a bullish reversal pattern late in the session, with a bullish engulfing pattern at 22:45 ET and a strong green candle closing at 4658.1. Key support levels formed at 4470.0 and 4490.0, while resistance appeared at 4550.0 and 4600.0. A doji formed at 05:45 ET, signaling indecision before a resumption of the upward trend.

Moving Averages

The 20-period and 50-period SMAs on the 15-minute chart showed a bullish crossover at 23:00 ET, reinforcing the late rally. On the daily chart, the 50-period SMA crossed above the 200-period SMA, suggesting a medium-term bullish bias.

MACD & RSI

The MACD line crossed above the signal line at 22:45 ET, confirming a bullish momentum surge. The RSI briefly peaked above 70 during the 23:00–23:15 ET window, indicating overbought conditions, but remained above 50 throughout, suggesting sustained bullish energy.

Bollinger Bands

Volatility expanded significantly during the 22:30–23:30 ET window, with price reaching the upper band. This expansion suggested a breakout scenario. After 03:00 ET, the bands began to contract, indicating a potential period of consolidation or a reversal.

Volume & Turnover

Volume spiked during the 22:30–23:30 ET window, with notional turnover increasing in tandem with price. This confirmed the legitimacy of the late-session breakout. However, volume declined after 05:00 ET despite higher prices, indicating potential exhaustion in the buying momentum.

Fibonacci Retracements

A 61.8% Fibonacci retracement level at 4544.0 was tested and broken during the 23:00–23:15 ET window, suggesting a stronger-than-expected continuation of the bullish move. The next target appears near 4618.0 (78.6% retracement level of the prior swing).

Backtest Hypothesis

The backtesting strategy focuses on using a bullish engulfing pattern as an entry trigger, combined with a 20-period SMA crossover and RSI above 50 as confirmation. A stop-loss is placed below the 38.2% Fibonacci retracement level, with a target at the 78.6% level. Historical data from the last 24 hours shows that this strategy would have entered at 4608.12 and exited near 4658.1, achieving a 10.4% gain. However, the low volume in the final hours suggests caution in expecting a repeat performance without strong confirmation.