Market Overview for Ethereum/Tether (ETHUSDT) – 2026-01-11

Summary
• ETHUSDT opened at $3096.63, reached $3147.27, and closed at $3129.45, with price surging in late trading.
• A bullish engulfing pattern formed at 16:45 ET, suggesting possible follow-through on the upside.
• Volume and turnover spiked after 16:00 ET, confirming the recent upward thrust with a 31M volume and $42.6M turnover in the last major candle.
• RSI and MACD show positive momentum, but price remains within the upper Bollinger Band, hinting at overbought conditions.
• 61.8% Fibonacci retracement level at $3109.46 may act as support if the rally consolidates.

Ethereum/Tether (ETHUSDT) opened at $3096.63 on 2026-01-10 at 12:00 ET and closed at $3129.45 by 12:00 ET on 2026-01-11, hitting a high of $3147.27 and a low of $3082.14. Total traded volume was 31,578.85 ETH and turnover was approximately $99.1 million over the 24-hour period.

Structure & Key Levels

Price found strong support at $3082.14 and pushed through key resistance levels, including $3100 and $3120, with a significant breakout above $3130. A bullish engulfing pattern emerged at the 16:45 ET candle, which is often a reversal signal, hinting at potential continuation of the uptrend.

Moving Averages and Momentum

Short-term 20 and 50-period moving averages on the 5-minute chart crossed above price in the final hours of trading, reinforcing the bullish bias. Daily 50/200-period MA suggest a longer-term uptrend is intact, with the 200SMA likely around $3000–$3050. MACD lines crossed into positive territory, and the histogram expanded, indicating strengthening upward momentum.

Volatility and Volume Dynamics

Bollinger Bands showed a moderate expansion during the late ET hours, with price staying near the upper band for much of the session, indicating high volatility. The 16:45 ET candle recorded a massive 13,578.85 ETH volume and $42.6M turnover, which aligns with the sharp price rise and confirms the strength of the move.

RSI and Fibonacci Insights

RSI crossed into overbought territory above 70 during the final 3 hours, suggesting possible exhaustion or a pullback. A 61.8% Fibonacci retracement level at $3109.46 may act as a near-term support if buyers pull back. The 38.2% level near $3122 could also see activity as a potential consolidation area.

Forward-Looking Outlook

With strong volume and a bullish candlestick pattern in place, ETHUSDT could test $3150–$3175 in the next 24 hours. However, traders should remain cautious of a possible pullback to the 61.8% retracement level or a consolidation near the upper Bollinger Band. A close below $3100 would raise questions about the sustainability of the rally.