Summary
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broke above prior resistance at $3,045, forming a bullish engulfing pattern near $3,050.
• RSI crossed above 50, indicating strengthening momentum with no overbought conditions yet.
• Volatility expanded through Bollinger Bands as volume surged during the late afternoon ET rally.
• A 61.8% Fibonacci retracement level near $3,025 appears to have acted as dynamic support.
• Turnover increased 3x during a key breakout above $3,050, confirming strong bullish conviction.
Ethereum/Tether (ETHUSDT) opened at $2,975.02 on 2025-12-21 12:00 ET, surged to a high of $3,077.39, and closed at $3,042.99 on 2025-12-22 12:00 ET. The total volume was 162,011.44 ETH, with notional turnover of $487,938,295.
Structure & Formations
The 5-minute chart shows a bullish engulfing pattern forming above the $3,050 level, confirming a breakout from a consolidation zone. Key support levels were identified at $3,025 (61.8% Fib) and $2,990, while resistance moved to $3,060–$3,070 after the recent rally.
Indicators
The 20-period EMA rose above the 50-period EMA, signaling short-term bullish bias. MACD crossed into positive territory with a strong histogram, while RSI remains in the 55–65 range, suggesting continued but not extreme momentum.
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Volatility and Volume
Bollinger Bands widened as price broke above the upper band during the late afternoon ET surge, indicating increased volatility. Turnover spiked sharply during the $3,050–$3,070 rally, confirming conviction in the move higher.
Forward Outlook
With support now at $3,025 and resistance near $3,060, ETHUSDT may test the upper band of the breakout range. A breakdown below $3,025 could signal a return to consolidation. Investors should monitor volume for signs of conviction.
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