Market Overview: Ethereum/Dai (ETHDAI) 24-Hour Summary

Summary
• ETHDAI formed bearish engulfing patterns and found temporary support near 3107.11.
• Volatility increased mid-day, with a sharp drop to 3080.31, confirming weak momentum.
• Bollinger Bands showed expansion, and price closed near the lower band, suggesting oversold conditions.
• RSI entered oversold territory, indicating potential for a near-term bounce.

Ethereum/Dai (ETHDAI) opened at 3116.81, reached a high of 3127.92, and closed at 3080.31 by 12:00 ET. The total volume was 10.98 ETH, with a turnover of 33,582.25 DAI over the 24-hour period.

Structure & Key Levels

Price action displayed multiple bearish engulfing patterns, especially after 19:00 ET on 2025-12-13, signaling a shift in short-term sentiment. A strong support level appeared at 3107.11, where price stalled multiple times. The breakdown below 3113.8 confirmed bearish control, with a subsequent decline to 3077.81 marking a key support test.

Moving Averages and Momentum

On the 5-minute chart, price closed below its 20 and 50-period moving averages, reinforcing downward bias. The daily chart showed no clear alignment with the 50/100/200 lines, suggesting uncertainty. RSI dipped into oversold territory (below 30), indicating potential for a near-term correction.

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Volatility and Bollinger Bands

Volatility expanded significantly in the latter half of the session, with price reaching as low as 3077.81. Bollinger Bands widened, and the final close near the lower band highlights oversold conditions. A retest of the upper band near 3113.8 may provide a clearer direction.

Volume and Turnover

Volume spiked during the sharp decline to 3080.31, indicating increased selling pressure. Turnover spiked alongside price drops, offering some confirmation of bearish momentum. However, a divergence between price and volume appears near the session’s close, suggesting caution.

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Forward-Looking View

A short-term bounce from 3080.31 is possible, especially if buying interest appears at key Fib levels around 3095.29 (61.8% of the 3127.92–3077.81 move). However, without strong volume confirmation, any rally may be limited. Investors should watch for a sustained break above 3113.8 for a reversal signal.

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Risk Consideration

With ETHDAI near its lowest point of the 24-hour period, further downside risk remains if 3077.81 breaks, though a rebound could be triggered by oversold RSI and key Fib levels. Investors should maintain stop-loss positions near 3060.00 and monitor volume for signs of exhaustion.