ETHEURI Market Overview: Ethereum/Eurite Sees Volatile Rebound Amid Mixed Momentum Signals

• Ethereum/Eurite (ETHEURI) traded in a 24-hour range of $3,500–$3,585, ending near intraday highs at 3,561.57.
• Volatility expanded late Thursday into Friday, with a sharp pullback from 3,605 to 3,510 before a recovery.
• Volume spiked around 22:30 ET as price gapped down to 3,517.73, but buyers retook control by 03:30 ET.
• RSI remained in mid-range (50–65), while MACD showed bullish divergence ahead of the final close.
• A large bullish engulfing pattern formed overnight, confirming a possible short-covering rally.

The Ethereum/Eurite (ETHEURI) pair opened at 3,550.56 on 2025-09-22 at 12:00 ET and closed at 3,561.57 on 2025-09-23 at the same time. The 24-hour range saw a high of 3,604.64 and a low of 3,489.69. Total volume was 55.3995 units, with a turnover of approximately $197,000, suggesting moderate but active trading.

Price formed a key bullish engulfing pattern in the early hours of Friday as buyers pushed ETHEURI from 3,517.73 to 3,561.61. The pattern was supported by increasing volume and a strong reversal into positive territory. A bearish flag developed between 22:30 and 03:15 ET as bears briefly took control, but the pattern was negated by a subsequent bullish break. Key support levels were identified at 3,517.73 and 3,500.00, while resistance stood at 3,561.57 and 3,572.85. A doji near 3,528.64 suggested indecision at the time of the intraday low.

Bollinger Bands showed a moderate expansion during the early part of the session, tightening as the price consolidated around 3,550.56 before breaking out. MACD showed a bullish crossover late Thursday, and the histogram expanded as the price climbed. RSI oscillated between overbought and neutral territory but avoided a full overbought state. This indicated that while momentum was rising, it was not yet at levels suggesting an imminent reversal. A 20-period EMA held below price all session, while the 50-period EMA crossed above the 20-period EMA near 3,550.0, suggesting a potential uptrend. The 50-period MA at 3,555.0 appears to be acting as immediate support, with the 200-period MA at 3,520.0 providing a secondary floor.

A notable retracement level was observed at 3,561.57, coinciding with the 61.8% Fibonacci level of the 3,489.69 to 3,604.64 swing. This level appeared to hold during consolidation and was retested as a key support and resistance point. The 38.2% retracement level at 3,543.24 also served as a pivot point in the middle of the session, with price bouncing off it multiple times. These levels could be closely watched for confirmation of further directional bias in the coming 24 hours. Given the current momentum and structure, ETHEURI appears to be testing the upper boundaries of a short-term range, with a potential break above 3,572.85 indicating further upside could be in play. However, a retest of 3,517.73 or a breakdown below 3,500.00 could signal a deeper correction in the near term.

Backtest Hypothesis

If we apply a strategy that targets the bullish engulfing pattern formed on 03:15–03:30 ET with a stop-loss at 3,516.43 and a take-profit at 3,572.85, the setup could have yielded a potential 5.5% gain in under 5 hours. This aligns with the RSI and MACD divergence observed during that period, suggesting a high-probability reversal signal. A similar approach using the 38.2% and 61.8% Fibonacci retracement levels as entry and exit points could have captured a 2.5–4% return on a swing trade between 00:00 and 09:30 ET. A backtest of this strategy over the past 30 days would provide further insight into its robustness, especially in volatile markets with moderate volume.