ETHUSDT Market Overview: Ethereum/Tether 24-Hour Summary (2025-10-06)

• ETHUSDT rose from 4530 to 4690.95, closing at 4673.38 after a strong 24-hour rally on high volume.
• Momentum accelerated after 06:00 ET with a bullish breakout and a 15-minute high of 4693.8.
• Volatility expanded during the session, with Bollinger Bands widening and price above the 20-period MA.
• Volume surged in the last 6 hours, with turnover spiking to $386.8M during the 153000–160000 ET block.
• A bullish engulfing pattern formed at 063000–064500 ET as price rebounded from 4540.39 to 4565.74.

Ethereum/Tether (ETHUSDT) opened at 4530.01 at 12:00 ET–1 and closed at 4673.38 by 12:00 ET, reaching a high of 4693.8 and a low of 4482.94. The 24-hour volume totaled approximately 248,201.36 ETH, with a notional turnover of $1.17 billion. Price rallied strongly in the afternoon, breaking above key resistance and consolidating near the session high.

Structure & Formations

Price action on the 15-minute chart formed multiple bullish signals, including a strong engulfing pattern at 06:30–06:45 ET, where it rebounded from 4540.39 to 4565.74, and a bullish continuation pattern after 08:00 ET. A strong support level emerged at 4513.02, holding during three downward tests. Key resistances appear at 4552.44 and 4576.5, both of which were pierced in the second half of the session.

Moving Averages

ETHUSDT closed well above both 20- and 50-period moving averages on the 15-minute chart, signaling bullish momentum. The 20-period MA is at 4555.6 and the 50-period MA at 4543.7. On the daily chart, price remains above the 50, 100, and 200-period MAs, all of which are rising, suggesting sustained long-term strength.

MACD & RSI

The 15-minute MACD turned positive mid-session, forming a bullish crossover at 08:00 ET, and has remained above the signal line since. The RSI reached 68 at the session’s close, indicating strong but not overbought momentum. Divergences were not observed; price and momentum remained aligned.

Bollinger Bands

Volatility expanded significantly during the session, with the Bollinger Bands widening from 18.3 to 39.6. Price closed near the upper band at 4673.38, confirming the breakout from a consolidation phase. The recent expansion suggests increased buying interest and may indicate continued upward movement in the near term.

Volume & Turnover

Volume spiked sharply after 15:00 ET, peaking with the 153000 candle at 15,080.5 ETH and the 160000 candle at 3,440.95 ETH, both driven by large notional turnover. Turnover reached $386.8M between 15:30 and 16:00 ET, suggesting strong institutional participation. Volume and price aligned well during the final rally, indicating strong conviction among buyers.

Fibonacci Retracements

The 61.8% Fibonacci retracement level on the 15-minute chart at 4572.3 and the daily chart at 4538.0 were both pierced during the session. The 78.6% level on the 15-minute chart sits near 4612.6, which could act as the next near-term resistance. On the daily chart, the 38.2% retracement is at 4561.9, also broken during the session.

Backtest Hypothesis

A potential backtest strategy could involve entering long positions on a bullish engulfing pattern confirmed by a closing price above the upper Bollinger Band and a MACD crossover above the signal line. A stop-loss could be placed below the most recent support at 4513.02, with a target at the 78.6% Fibonacci level at 4612.6. Given today’s price action, this setup appeared effective, with strong volume confirmation and momentum alignment.