ETH/USDT 24-Hour Market Overview

• Ethereum’s 24-hour price action shows a bearish trend from $4,298.93 to $4,242.66 with key resistance at $4,350.
• A bearish divergence in RSI and declining volume suggest weakening bullish momentum late in the session.
• Volatility expanded during midday as prices broke below key support at $4,300 and tested $4,250.
• Bollinger Bands show price at the lower band, indicating a potential bounce or further downside.
• High-volume bearish reversal patterns emerged as ETH/USDT approached $4,250, signaling caution for near-term buyers.

Market Overview

Ethereum (ETHUSDT) opened at $4,287.76 on 2025-08-20 at 12:00 ET and closed at $4,242.66 on 2025-08-21 at 12:00 ET. The 24-hour range was $4,298.93 (high) to $4,235.00 (low). Total volume traded was 310,324.30 ETH, with a notional turnover of $1.33 billion.

Structure & Formations

The price action formed a bearish consolidation pattern as ETHUSDT moved below the key psychological level of $4,300 and tested support near $4,250. Notable bearish engulfing patterns emerged during the early morning hours, especially from 02:00 to 04:00 ET, which coincided with declining buyer participation. The price found temporary support at $4,250, forming a small base before a final bearish leg to close near $4,242.66.

Moving Averages

On the 15-minute chart, the 20-period MA crossed below the 50-period MA during the early morning, confirming the bearish momentum. For the daily chart, Ethereum closed below both the 50 and 200-day moving averages, indicating a potential shift in the medium-term trend.

MACD & RSI

MACD turned negative midday and failed to show any signs of bullish momentum, suggesting bears have taken control. RSI moved into oversold territory by the final hour of the session, raising the possibility of a short-term bounce. However, the divergence between price and RSI (higher highs in price but lower highs in RSI) points to a weakening bullish bias.

Bollinger Bands

Volatility increased during midday as Ethereum broke below the lower Bollinger Band and tested the 2σ support level. Price closed near the lower band, suggesting a possible rebound in the near term, though a break below $4,235.00 could extend the decline further.

Volume & Turnover

Volume surged during the afternoon hours, particularly from 13:00 to 15:00 ET, coinciding with a sharp decline in price. Notional turnover spiked as ETH/USDT moved below $4,300, confirming the bearish bias. However, volume declined in the final hours, indicating a possible pause or consolidation.

Fibonacci Retracements

Applying Fibonacci to the recent 15-minute swing from $4,350 to $4,235.00, key retracement levels include 38.2% at $4,297.50 and 61.8% at $4,261.30. The 61.8% level aligns with the final close near $4,242.66, suggesting a potential continuation lower in the next 24 hours.

Ethereum may test $4,235.00–$4,220.00 in the near term if bears maintain control, but a rebound above $4,270.00 could trigger a retracement toward the 38.2% level. Investors should remain cautious as divergence in momentum indicators and bearish volume patterns suggest a higher probability of continued selling pressure.