ETHUSDT Market Overview: Bullish Reversal and Elevated Momentum

• ETHUSDT traded in a 24-hour range of $4,300.60–$4,481.09, closing near the upper end with rising momentum.
• Strong volume expansion occurred in the afternoon (ET), confirming a bullish reversal after a sharp selloff.
• RSI overbought conditions and a bullish engulfing pattern near $4,410 suggest further upside potential.
• Bollinger Bands show low volatility early, followed by a significant expansion as price broke above the upper band.
• Notional turnover surged to $240 million in the final hours, indicating increased speculative activity.

Price Action and Key Levels

Ethereum/Tether USDt (ETHUSDT) opened at $4,407.28 on 2025-09-10 at 16:00 ET and closed at $4,412.52 on 2025-09-11 at 16:00 ET. The pair reached a high of $4,481.09 and a low of $4,300.60, with total volume of 173,080.0821 and a notional turnover of $759,641,281.09.

The candlestick structure shows a strong bullish reversal pattern forming after a sharp selloff in the early evening (ET). A large bearish candle formed around $4,340, followed by a bullish engulfing pattern around $4,410–$4,420. Key support levels appear to be forming near $4,360 and $4,340, while resistance levels are at $4,425 and $4,440.

Technical Indicators and Momentum

Relative Strength Index (RSI) rose into overbought territory (70–75) in the final hours of the session, suggesting short-term exhaustion on the upside. However, the 20-period and 50-period moving averages on the 15-minute chart have begun to align in a bullish manner, with price currently trading above both.

On the daily chart, the 50-period moving average is approaching a crossover with the 200-period, signaling potential for a long-term bullish shift. Momentum appears to be accelerating, with MACD showing a strong positive divergence in the afternoon (ET), confirming the recent upward thrust.

Volatility and Fibonacci Levels

Bollinger Bands expanded significantly during the afternoon (ET), indicating a period of heightened volatility. Price traded above the upper band during the bullish breakout near $4,410, reinforcing the strength of the move.

Fibonacci retracements applied to the recent 15-minute swing from $4,340 to $4,481 show the 61.8% retracement level at approximately $4,415–$4,420. The price appears to be finding support and resistance at key Fibonacci levels, suggesting these could act as potential reversal points in the next 24 hours.

Backtest Hypothesis

The backtesting strategy involves entering long positions on ETHUSDT when price closes above a 50-period moving average on the 15-minute chart and RSI confirms momentum above 50, with a stop-loss placed below the 20-period moving average.

This hypothesis is supported by the current alignment of moving averages and the overbought RSI reading, suggesting continued upward potential. However, the large volume divergence observed in the final 6 hours of the session could indicate increased volatility or short-term exhaustion, which may require tighter risk management.