Market Overview: Ethereum/Dai (ETHDAI) 24-Hour Technical Summary

Summary
• ETHDAI broke below a key 5-minute support level at 2944.54, signaling bearish momentum.
• Volume spiked at 2900.0, confirming a short-term bottoming attempt.
• RSI entered oversold territory near 28, hinting at possible near-term buying pressure.

Ethereum/Dai (ETHDAI) opened at 2962.36 on 2025-12-25 12:00 ET, hit a high of 2988.01, a low of 2893.56, and closed at 2974.64 on 2025-12-26 12:00 ET. Total 24-hour volume was 38.77 ETH, with notional turnover of approximately 93,991.11 DAI.

Structure & Formations

Price formed a bearish engulfing pattern as it collapsed from 2988.01 to 2893.56 between 02:45 and 05:00 ET. A key support at 2944.54 was pierced, with a potential short-term base forming around 2900.0. A bullish engulfing pattern emerged at 2974.64, suggesting a reversal attempt.

Moving Averages

On the 5-minute chart, price ended above the 20-period MA but below the 50-period MA, suggesting short-term indecision. Daily averages were not available to assess broader context.

MACD & RSI

MACD turned negative during the 23:00–00:00 ET dive, confirming bearish momentum. RSI bottomed at 27 near 2893.56, indicating short-term oversold conditions and potential for a countertrend rally.

Bollinger Bands

Volatility expanded as price fell below the lower band during the 23:00–00:15 ET window. It retested the mid-band at 2900.0 before rising, suggesting a period of consolidation.

Volume & Turnover

Volume surged at 2900.0 and 2902.62, aligning with price stabilization. Turnover spiked during the 00:00–00:15 ET window, confirming a key short-term low. Volume declined afterward, indicating limited conviction in the recovery.

Fibonacci Retracements

A 61.8% retracement of the 2988.01–2893.56 move is at 2956.11, near which price stalled. A 38.2% retracement sits at 2970.16, currently acting as resistance.

Price appears to be stabilizing after the sharp 24-hour drop, with 2900.0 and 2950.0 key levels to watch. A retest of the 2944.54–2900.0 range could trigger further volatility, especially if volume fails to confirm a breakout. Investors should remain cautious ahead of potential follow-through selling.