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Summary
• ETHDAI opened at 2938.02 and closed at 2947.64, forming a bullish inside bar pattern near key resistance.
• Price surged past 2950 after a volume spike but reversed in final hours, raising bearish divergence concerns.
• RSI hit overbought levels above 70 early, then declined into neutral territory, suggesting fading momentum.
• Bollinger Bands expanded during the 5–7 AM ET rally, with price closing near the upper band.
• Volume distribution favors the midday rally (02:45–03:15 ET), suggesting accumulation but weak confirmation at the high.
Ethereum/Dai (ETHDAI) opened at 2938.02 and closed at 2947.64, with a high of 2963.29 and low of 2912.6 over the last 24 hours. Total volume was 34.24, and turnover amounted to 86,398.68. The pair experienced a sharp midday rebound, forming key resistance near 2950 and a potential bearish reversal after reaching the 2963.29 peak.
Structure & Formations
The price formed a bullish inside bar pattern around 2942.0, followed by a strong breakout above 2950. However, the session closed with a long upper shadow near the high, indicating rejection. A potential support zone appears at 2938–2942, with a bearish engulfing pattern forming around 2956.01.
Moving Averages
On the 5-minute chart, the 20-period moving average crossed above the 50-period line early in the session, reinforcing the midday rally. The 50-period line acted as dynamic resistance during the late surge. On a daily basis, ETHDAI remains above all key moving averages (50, 100, 200), suggesting continued long-term support.
Momentum & Volatility

Volume & Turnover
Volume spiked around 02:45 ET and again during the 03:15–03:30 ET rally, with a total of 3.1479 volume at the peak of the upswing. However, the late-day rally lacked follow-through volume, showing divergence from price. Turnover mirrored the volume pattern, peaking during the midday rebound but declining sharply in the last 5-minute bar.
Fibonacci Retracements
A key 61.8% Fibonacci retracement level appears at 2953.6 during the 2912.6–2963.29 swing. The price briefly touched this level but failed to hold. A 38.2% level near 2946.41 was tested in the final hours but failed to provide strong support.
ETHDAI may remain range-bound in the next 24 hours as the 2950–2960 zone could attract profit-taking pressure. Investors should watch for volume confirmation at key resistance and divergence in the RSI as potential early warning signs.
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