Ethereum Market Overview: ETHUSDT 24-Hour Summary (2025-07-20)

• Ethereum posted a sharp 24-hour rally, surging from $3,552 to $3,786 with strong volume and momentum.
• Price broke above key resistance levels, with a bullish engulfing pattern forming near $3,600.
• RSI and MACD showed overbought conditions, suggesting potential consolidation or pullback.
• Volatility expanded as Bollinger Bands widened, reflecting increased market participation.
• Turnover spiked during late-ET hours, confirming the strength of the upward move.

Ethereum (ETHUSDT) opened at $3,552 on July 19 at 12:00 ET and closed at $3,786 by 12:00 ET on July 20. The 24-hour high reached $3,790, while the low was $3,533. Total volume was 336,977.7043 ETH, and notional turnover hit $1,279,346,774.08.

Structure & Formations

Ethereum displayed a strong bullish trend over the 24-hour period, with key resistance levels at $3,600, $3,650, and $3,700 being decisively broken. A bullish engulfing pattern emerged around $3,600, confirming a shift in momentum from bearish to bullish. The price also formed a higher high and higher low structure, suggesting a continuation of the uptrend. A potential consolidation zone may form near the 61.8% Fibonacci retracement of the recent $3,533 to $3,790 move, around $3,660, which could serve as a short-term support/resistance.

Moving Averages

On the 15-minute chart, Ethereum closed above both the 20-period and 50-period moving averages, reinforcing the bullish bias. Daily moving averages (50, 100, and 200) also showed Ethereum trading above all three, indicating strong medium-term bullish momentum. The 50-day MA appears to be acting as dynamic support, currently around $3,620, with the price well above it.

MACD & RSI

The MACD showed a positive divergence with a bullish crossover forming, while the histogram expanded, indicating growing buying pressure. RSI climbed into overbought territory, peaking above 70, suggesting that a short-term correction could be imminent. However, the sustained volume and price action indicate that the uptrend may persist despite the overbought condition. Traders should watch for a potential RSI pullback to around 60–65 before expecting a continuation.

Bollinger Bands

Volatility increased significantly during the 24-hour period, with Bollinger Bands widening from a narrow contraction to a wide range. Price traded near the upper band for most of the session, particularly after the breakout above $3,650. This suggests strong bullish momentum. However, as the bands continue to expand, the risk of a pullback to the midline or lower band increases, especially if volume wanes.

Volume & Turnover

Volume surged during the late-ET hours, confirming the strength of the breakout above key resistance levels. Notional turnover also spiked, particularly between 03:00–04:00 ET and again after 09:00–10:00 ET, aligning with major price moves. The positive correlation between rising price and increasing volume supports the validity of the uptrend. However, a divergence between volume and price could signal weakening momentum in the near term.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent swing from $3,533 to $3,790, Ethereum is currently testing the 78.6% level at around $3,765. The 61.8% retracement at $3,660 may act as a key support zone in the event of a pullback. On the daily chart, the 50% retracement of the broader bearish move is at $3,500, which remains a critical level to watch for any deeper correction.

Ethereum appears to have entered a strong bullish phase, supported by key technical indicators and high volume. The next 24 hours may see a test of $3,800, but overbought conditions and expanding volatility could trigger a consolidation phase. Investors should remain cautious and watch for any signs of a breakdown below $3,700, which could signal a short-term correction.