Summary
• ETHFIUSDT declines sharply on high turnover, forming bearish engulfing patterns.
• Volatility expands after 21:30 ET as price breaks below key 50-period moving average.
• RSI near oversold territory suggests potential short-term rebound, though momentum remains bearish.
Ether.fi/Tether (ETHFIUSDT) opened at 0.91 at 12:00 ET-1, reached a high of 0.923, and a low of 0.858, closing at 0.874 by 12:00 ET. Total 24-hour volume was 8,997,098.3, with a notional turnover of 7,808.99.
Structure & Moving Averages
Price action reveals a strong bearish bias, with a series of lower highs and lower closes after 19:00 ET. On the 5-minute chart, the 20-period and 50-period moving averages both slope downward, confirming a short-term downtrend. The daily 50/100/200 MA structure is not available in the dataset but likely reinforces the bearish setup if price remains below all three.
Momentum and Overbought/Oversold Conditions
Relative Strength Index (RSI) has declined to 28, indicating oversold territory, but lacks immediate bullish confirmation without a reversal candle. Momentum has weakened as the MACD histogram shows bearish divergence, with the MACD line below the signal line and trending downward.
Volatility and Volume Analysis
Volatility spiked after 19:00 ET, with a large 5-minute candle showing a range of 0.904–0.921. Notional turnover has also increased notably in the final six hours, with a large trade at 23:30 ET showing a high of 0.883 and a close of 0.882. However, volume has since declined, which may indicate a weakening bearish conviction.
Bollinger Bands and Fibonacci Retracements
Price has moved below the 20-period Bollinger Band lower boundary on the 5-minute chart, suggesting increased volatility and risk of further downward correction. Fibonacci retracements of the 0.858–0.923 swing suggest potential support levels near 0.878 (38.2%) and 0.866 (61.8%).
Looking ahead, a potential rebound above 0.878 could trigger short-term profit-taking but is unlikely to reverse the broader bearish trend unless volume surges. Investors should remain cautious as price remains near key support levels with limited immediate buy-side participation.
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