Market Overview for Ethereum/Tether (ETHUSDT) on 2025-12-10

Summary
• ETHUSDT traded in a 3304.59–3377.9 range with a bearish engulfing pattern forming around 3350.
• Momentum dipped below 50 on MACD and RSI signaled oversold conditions, hinting at potential bounce.
• Volume surged during the 12-hour low, but turnover failed to confirm, suggesting possible bear trap risk.
• Bollinger Bands expanded during the 24-hour peak, reflecting heightened volatility in a key consolidation phase.

Ethereum/Tether (ETHUSDT) opened at 3325.84, touched a high of 3377.9, a low of 3304.59, and closed at 3318.39 as of 12:00 ET. Total 24-hour volume was 173,789.92 ETH, with turnover amounting to $572,359,518.

Structure & Formations

ETHUSDT displayed a notable bearish engulfing pattern near 3350–3360 during early ET hours, indicating a short-term reversal from bullish to bearish bias. A key support level emerged around 3318–3322, holding through the final hours of the 24-hour period, while resistance reappeared at 3360–3370 after repeated rejections. A doji formed near 3354–3356, signaling indecision.

Moving Averages

The 20-period and 50-period moving averages on the 5-minute chart crossed over during the early morning, suggesting a bearish shift. Price lingered below both averages for the majority of the day, but a cross-back above the 20-period MA in the final hours hinted at tentative strength.

Momentum & Volatility

MACD turned negative by the early afternoon and remained bearish through the close, with RSI dipping below 30 during the 12-hour low, pointing to oversold conditions. Bollinger Bands saw expansion during the day’s high volatility, with price spending the majority of the session near the lower band, suggesting possible near-term rebound potential.

Volume and Turnover

Volume spiked during the 12-hour window, particularly in the 19:45–20:45 ET timeframe, but turnover failed to rise proportionally, indicating possible price-volume divergence. The largest single-volume candle occurred at 16:30–17:00 ET, but this did not translate into sustained price movement.

Fibonacci Retracements

Fib levels applied to the recent 5-minute swing from 3305 to 3378 showed price stabilizing near the 61.8% retrace level (~3336–3342) before retreating again. Daily retracement levels suggest that a retest of the 3345–3350 area may trigger further consolidation or a break in direction.

ETHUSDT may consolidate near 3318–3324 in the near term, with a potential test of 3345–3350 if bullish momentum resumes. A breakdown below 3300 could trigger deeper corrections. Investors should remain cautious given the mixed signals between volume and price.