Ethereum/Eurite Market Overview – 2025-10-13

• Price surged past $3,600 but stalled near $3,635 resistance.
• RSI overbought above 70 with volume waning suggests a potential near-term correction.
• A bearish divergence in price and volume in the final 4 hours hints at reversal risk.
• 20-period MA crossed above price in the morning, indicating short-term bullish momentum.
• Bollinger Bands show expanding volatility as price tested upper band before retracing.

Ethereum/Eurite (ETHEURI) opened at $3,500.78 on 2025-10-12 at 12:00 ET and closed at $3,581.15 on 2025-10-13 at 12:00 ET. The 24-hour range was $3,486.40–$3,634.78, with a closing price 2.3% higher. Total traded volume was 140.54, and turnover reached $492,695.89 in the last 24 hours.

Price moved decisively above the 20-period and 50-period moving averages during the morning, confirming bullish momentum. However, as the day progressed, the price began to consolidate, failing to maintain the highs of the early session. A key resistance level appears to be forming near $3,635, where price has tested multiple times in the last 12 hours without a decisive breakout.

The Relative Strength Index (RSI) has moved into overbought territory (above 70), signaling that the asset may be due for a pullback or consolidation. The Moving Average Convergence Divergence (MACD) remained positive but flattened in the afternoon, indicating weakening bullish momentum. A bearish signal may emerge if the MACD line crosses below the signal line.

Bollinger Bands show increasing volatility with the price oscillating near the upper band for several hours before settling back toward the center. This suggests a period of heightened interest and emotional trading, with price action now possibly poised for a reversal. A breakdown below the 20-period MA could signal short-term bearish pressure.

Price formed a potential bearish key reversal pattern in the last 4 hours, with the session's high at $3,634.78 and a close near the mid-range. A breakdown below the $3,581.00 level could target support at $3,550.00 or $3,525.00. Fibonacci retracement levels from the recent swing high ($3,634.78) suggest critical levels at $3,600 (38.2%) and $3,565 (61.8%), both of which appear to be acting as short-term magnets.

Backtest Hypothesis
The request to apply a “Bullish Engulfing” strategy for ETHEURI could not be fulfilled due to the ticker being unrecognized by the system. This candlestick pattern typically signals a potential reversal from a downtrend to an uptrend when a larger bullish candle follows a smaller bearish one. A backtest for this pattern on valid tickers would involve identifying all such formations since 2022, triggering a buy at the close of the engulfing candle, and exiting after 3 calendar days. This would allow for the assessment of win rate, average return, and maximum drawdown, offering a practical insight into its viability as a trading signal for the asset.