Market Overview: Ether.fi (ETHFIUSDT) Gains Momentum Amid Strong On-Chain Activity

• Ether.fi (ETHFIUSDT) surged over 15% in 24 hours, closing near a fresh high of $1.288.
• Momentum accelerated into midday, with volume spiking past 500k ETHFI and RSI reaching overbought territory.
• A bullish engulfing pattern emerged near $1.26–$1.28, reinforcing short-term optimism.
• Volatility expanded through Bollinger Bands, suggesting potential for a continuation or consolidation.
• Dips below $1.25–$1.26 may trigger near-term profit-taking, but support appears firm.

At 12:00 ET–1, ether.fi (ETHFIUSDT) opened at $1.204, surged to a high of $1.291, and closed at $1.267 at 12:00 ET. The 24-hour volume totaled approximately 13.5 million ETHFI, with a notional turnover of $16.8 million.

Structure & Formations

Price action showed a clear bullish bias as ETHFIUSDT broke above key resistance levels at $1.26–$1.28. A strong bullish engulfing pattern formed during the early morning hours, confirming the breakout. A doji near $1.283 suggests a brief pause in momentum but not a reversal. The recent low of $1.203 appears to be a solid support level, with a second-tier support zone forming between $1.24 and $1.25.

Moving Averages

On the 15-minute chart, the 20-period and 50-period SMAs are both bullish, with price holding above both. The 50-period SMA is currently at $1.252, reinforcing the idea that the trend is intact. On the daily chart, ETHFIUSDT has crossed above the 50-day and 100-day SMAs, suggesting a longer-term bullish tilt.

MACD & RSI

The MACD histogram turned positive during the midday surge and remains in bullish territory, with the signal line lagging behind. RSI reached overbought levels (above 70) in the late morning, indicating potential for a short-term pullback. However, as long as price remains above $1.26, the momentum remains intact.

Bollinger Bands

Volatility expanded significantly as price moved above the upper Bollinger Band, reaching a high of $1.291. The bands have widened, indicating a period of high market activity and uncertainty. Price is currently consolidating near the upper band, suggesting the potential for a continuation or a minor retracement.

Volume & Turnover

Volume surged past 500k ETHFI during the midday and early afternoon hours, coinciding with the strongest price gains. Notional turnover spiked to over $2 million in several 15-minute periods, confirming the strength of the move. No significant divergences between price and volume were observed, suggesting the rally is well-supported by on-chain activity.

Fibonacci Retracements

The recent 15-minute swing from $1.203 to $1.291 aligns with key Fibonacci levels. ETHFIUSDT is currently near the 61.8% retracement level at $1.262–$1.265, which could serve as a pivot point. A breakdown below $1.25 (38.2% retracement) could trigger a pullback toward $1.24, but a hold above $1.26 suggests the trend remains intact.

Ether.fi appears to be in a strong short-term bullish phase, driven by breakout momentum and strong volume. While overbought conditions and consolidation near Bollinger Bands suggest a potential pause, the overall trend remains intact. Investors may monitor support at $1.25–$1.26 and resistance at $1.27–$1.28. However, as always, sharp volatility and market sentiment shifts could alter the near-term trajectory.