The trading pair of Ethereum (ETH) against the US Dollar stablecoin (USDT) has shown remarkable upward momentum in the past 24 hours. The price started at $4,104.6 and climbed to $4,340.6, demonstrating strong upward momentum.

It is worth noting that after 20:00 Eastern Time in the United States, the market experienced significant changes. Trading volume surged, driving the price up more than $100 in just one hour. This rapid increase pushed ETH above the key 61.8% Fibonacci retracement level, laying a solid foundation for the subsequent trend.

In terms of technical indicators, the Relative Strength Index (RSI) is approaching the overbought area of 70, while the Moving Average Convergence Divergence (MACD) shows a bullish divergence. These signals together suggest that the market may continue to maintain its upward momentum.

As Eastern Standard Time in the United States moves into the evening, market volatility has significantly increased. This phenomenon reflects a rise in market participation, while also suggesting that speculative buying is on the rise.

In terms of data, on October 1, 2025, ETH/USDT opened at 4,104.6 USD, and by 12:00 PM Eastern Time on that day, the closing price reached 4,327.23 USD. The intraday trading range fluctuated between 4,092.1 USD and 4,340.6 USD. The trading volume for that day reached 548,679.67 ETH, approximately 2.14 billion USD.

From a market structure perspective, the ETH price has broken through the previously formed descending triangle pattern, with this breakout starting from the consolidation area of $4,104.6 to $4,167.2. Notably, on the early morning of October 1, 2025, the originally supportive price level of $4,110.0 turned into a new resistance level, which was subsequently broken, further confirming the formation of an upward trend.

Overall, the Ethereum market currently shows strong upward momentum, with various technical indicators and market behaviors supporting this view. However, investors should remain cautious, closely monitor market changes, and manage risks effectively.