Market Overview for Ethereum/Tether (ETHUSDT) on 2025-12-27

Summary
• ETHUSDT formed a bullish engulfing pattern near $2,921.09, indicating potential short-term reversal.
• RSI dipped to 28, suggesting oversold conditions, while volume spiked during the late 5–6 PM ET range.
• Volatility expanded after 4 PM ET, with price breaking above the upper Bollinger Band at ~$2,935.
• 5-minute MACD crossed into positive territory around 7:15 AM ET, confirming a shift in momentum.
• Price found support at $2,921–2,924 area multiple times, forming a potential base for a rally.

Market Overview

At 12:00 ET on 2025-12-27, Ethereum/Tether (ETHUSDT) opened at $2,928.00, reached a high of $2,938.00, a low of $2,917.25, and closed at $2,921.09. Total volume was 29,325.24 ETH, with notional turnover of ~$86,299,500 over the 24-hour period.

Structure & Formations

The price action revealed key support forming between $2,921 and $2,924, with several bullish engulfing patterns emerging around this zone. A doji at $2,925.84 around 2:15 PM ET highlighted indecision, followed by a sharp rebound. Resistance levels emerged at $2,930–2,935, with several failed attempts to break above, suggesting the level holds significance.

Moving Averages

On the 5-minute chart, the 20SMA crossed above the 50SMA in the early hours of the morning, indicating a potential short-term bullish bias. On the daily chart, the 50DMA remains below the 200DMA, signaling a longer-term bearish bias despite recent intraday strength.

MACD & RSI

MACD turned positive at 7:15 AM ET and remained above the signal line, supporting the bullish momentum. RSI dropped to 28 in the late afternoon before recovering toward the neutral zone, indicating a possible rebound from oversold conditions.

Bollinger Bands

Volatility expanded significantly after 4 PM ET, with price breaking above the upper band at ~$2,935. The band width widened from 0.8% to 2.1% in that period, indicating increased uncertainty and potential range expansion.

Volume & Turnover

Volume surged to a 24-hour high of ~4,350 ETH at 10:45 AM ET during a sharp decline to $2,917.25, confirming bearish momentum. However, notional turnover remained in line, with no divergence seen between price and volume. A volume spike in the late afternoon supported the rebound from key support, suggesting accumulation by stronger hands.

Fibonacci Retracements

The recent swing from $2,917.25 to $2,938.00 aligns with key Fibonacci levels. The 38.2% retracement at $2,929.56 and the 61.8% at $2,924.55 appear to have acted as dynamic support and resistance throughout the day.

Price appears to be consolidating near key support, with technical indicators hinting at a potential short-term rebound. However, the broader bearish trend remains intact, and any rally above $2,935 could face renewed selling pressure. Investors should watch for a sustained close above $2,935 as a sign of bullish confirmation, but be mindful of the risks of a pullback into oversold territory again.