Market Overview: Ethereum (ETHUSDT) – 24-Hour Technical Summary

• Ethereum posted a 24-hour closing decline of 6.7% on ETHUSDT, failing to hold key 15-minute resistance at $4,500.
• Price action on 15-minute charts shows bearish engulfing patterns near $4,550 and failed attempts to break above prior highs.
• Volatility expanded significantly with Bollinger Bands widening, and volume surged during the $4,500–$4,630 range.
• RSI and MACD indicate bearish momentum with RSI trending below 30 and MACD crossing into negative territory.
• Fibonacci retracement levels at $4,425 and $4,550 appear to have provided temporary support and resistance in intraday trading.

Market Overview

Ethereum (ETHUSDT) opened at $4,612.57 on 2025-08-25 at 12:00 ET and traded as high as $4,645.54 before closing at $4,427.00 at 12:00 ET on 2025-08-26. The 24-hour period saw a low of $4,320.46 and a total trading volume of 358,747.98 ETH, with a notional turnover of $1,583,973,313.56.

Structure & Formations

Price action on the 15-minute chart showed a clear bearish reversal at key resistance levels. A bearish engulfing pattern formed around $4,550 during the morning trading session, followed by a doji near $4,445 as buyers failed to push the price above prior highs. Additionally, Fibonacci retracements showed the 61.8% level at $4,425 offering temporary support before a pullback occurred.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart are in a bearish configuration, with the 50SMA below the 20SMA. The 50-period and 200-period daily moving averages indicate a stronger bearish bias, with the price closing below both, reinforcing the short-term bearish momentum.

MACD & RSI

The MACD line crossed below the signal line during the late evening session and remained in negative territory by the close, indicating bearish momentum. The RSI dropped below 30 in the final hours of trading, entering oversold territory, though a sharp rebound was not observed. This suggests continued selling pressure could persist in the near term.

Bollinger Bands

Bollinger Bands showed a significant expansion during the midday sell-off, indicating heightened volatility. The price closed near the lower band at $4,427.00, suggesting bearish exhaustion may not have occurred yet. The wide band also points to increased uncertainty and potential for further consolidation or a directional breakout.

Volume & Turnover

Volume spiked during the critical price range of $4,500–$4,630, indicating strong resistance in that area. The highest notional turnover occurred at $4,500–$4,550, where the price stalled for several hours. However, the divergence between volume and price during the late session suggests potential weakening in the bearish momentum, though this was not confirmed by a reversal in price.

Fibonacci Retracements

Applying Fibonacci retracements to the recent intraday swing high of $4,645.54 and low of $4,320.46, key levels at 61.8% ($4,425) and 38.2% ($4,501) appear to have functioned as dynamic support and resistance. The failure to break above $4,550 (a 50% retracement) signals a likely continuation of the bearish trend unless a strong reversal occurs.

Over the next 24 hours, Ethereum may test the 61.8% Fibonacci level at $4,425 for re-entry potential, but bearish momentum remains strong. Investors should remain cautious as price action could continue to favor the downside, with a potential breakdown below $4,400 increasing the risk of a deeper pullback toward $4,320.