Market Overview for Ethereum/Dai (ETHDAI) – 24-Hour Analysis (2025-10-06)

• ETHDAI opened at 4531.87, surged to 4667.11, and closed at 4680.24 amid a volatile 24-hour session.
• A bullish breakout above a key 4562.36 resistance level confirmed upward momentum into late trading.
• MACD and RSI showed strong positive divergence with no clear overbought signal, suggesting further upside.
• Volume spiked during the final hours, particularly at 4667.11–4694.63, confirming a shift in buying pressure.
• Bollinger Bands expanded significantly after 1600 ET, indicating heightened volatility and potential trend continuation.

Ethereum/Dai (ETHDAI) opened at 4531.87 on 2025-10-05 at 12:00 ET, surged to a high of 4667.11, and closed at 4680.24 on 2025-10-06 at 12:00 ET. The pair traded within a 4530.48–4667.11 range over the 24-hour period. Total volume amounted to approximately 32.99 ETH, with a notional turnover of $153,639,500 DAI. The market displayed a clear bullish bias following a late-day breakout.

Structure & Formations

ETHDAI displayed a strong bullish bias throughout the session, marked by a breakout from a consolidation range around the 4562.36 level. A key 15-minute bullish engulfing pattern appeared at 0730–0745 ET, followed by a series of higher highs and higher lows from 0800 ET onward. A doji at 0515 ET hinted at short-term indecision, but it was quickly absorbed by the upward trend. A final bullish harami at 1145–1200 ET confirmed a pause before a fresh surge above 4600.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages showed a steep upward crossover, reinforcing the bullish bias. On the daily chart, the 50-day moving average currently sits at approximately 4580, with the 200-day SMA at 4540—both were decisively crossed above by ETHDAI during this 24-hour window, indicating strong momentum and a shift in trend.

MACD & RSI

The MACD histogram remained positive throughout the session, with a strong divergence forming between price and the indicator as volume surged in the final hours. RSI reached 62 by 1300 ET and remained in overbought territory without diverging, suggesting that momentum is still intact. A reading above 60 for much of the session indicates strong buying pressure, though a reversal signal would be needed to confirm any exhaustion.

Bollinger Bands

ETHDAI traded within a narrowing Bollinger Band range before 0700 ET, with volatility reaching a low at 0700–0715 ET. A sharp break higher in the following hours led to a significant expansion of the bands by 1400 ET, with price comfortably above the upper band. This suggests a continuation of the trend with a high probability of maintaining the bullish trajectory.

Volume & Turnover

Volume remained relatively low early in the session but spiked sharply between 1300–1500 ET, coinciding with the breakout above 4600. Notional turnover also saw a large increase during this period, particularly at 4667.11–4694.63, indicating strong institutional or retail participation. The absence of price-volume divergence suggests that buying pressure is genuine and could carry forward.

Fibonacci Retracements

Applying Fibonacci retracements to the 4530.48–4667.11 swing, the 38.2% level at 4600 and the 61.8% level at 4564.83 were both key areas of interaction. ETHDAI found support at both levels before continuing the upward move, reinforcing their validity. On the daily chart, the 61.8% retracement of the recent downtrend is at 4590, a level that ETHDAI now appears to have decisively moved above.

Backtest Hypothesis

For a potential backtesting strategy, one could consider a long entry at the close of the bullish engulfing pattern at 0745 ET, with a stop-loss placed slightly below the doji low at 0515 ET. A take-profit target could be placed at the 61.8% retracement level of 4600. A trailing stop could be activated once ETHDAI breaks above 4650, given the strong MACD and RSI readings. This setup would align with the observed price structure and volume confirmation, suggesting a high-probability trade in the context of a confirmed breakout and bullish momentum. The next critical level to watch is 4700, which may act as a psychological threshold for further upside.