Market Overview for Ethereum/Eurite (ETHEURI) as of 2025-11-12

Summary• ETHEURI traded in a tight range, consolidating after a sharp drop and partial recovery.
• Price action shows bearish bias with RSI pointing toward oversold conditions.
• Volume spiked in early hours, but lacks directional conviction in recent candles.

Ethereum/Eurite (ETHEURI) opened at 2996.99 on 2025-11-11 at 12:00 ET, reaching a high of 3020.0 and a low of 2943.38 before closing at 2979.06 on 2025-11-12 at 12:00 ET. The 24-hour volume totaled 74.6856 units, with a notional turnover of 68–93 contracts, indicating moderate liquidity but low volatility.

The price structure reveals a strong bearish bias, with multiple key support levels tested and broken, most recently at 2979.06. A notable bearish engulfing pattern formed in the early hours of 2025-11-11, followed by a deep correction. Support levels at 2976.07 and 2964.79 showed some buying interest, but failed to halt the decline.

Looking at moving averages, the 20-period and 50-period lines on the 15-minute chart are in a steep downward bias, reinforcing the bearish momentum. The 50/100/200-day moving averages on a higher time frame also remain bearish, indicating a continuation of the larger trend may be in place.

MACD lines reflect negative momentum with the signal line cutting through the MACD line in a “death cross” formation. RSI, though approaching oversold conditions (30), has not yet triggered a reversal, suggesting exhaustion may be in play but with no immediate reversal signal. Bollinger Bands have recently contracted, hinting at a potential breakout or breakdown scenario. Price is currently near the lower band, which may indicate continued volatility ahead.

Volume and turnover data suggest a tug-of-war between sellers and buyers. Volume surged during the sharp drop early in the 24-hour period but has remained muted in the latter half, indicating a lack of conviction. This divergence suggests that while sellers dominate, buyer participation is not absent, setting up a potential consolidation phase.

Fibonacci retracement levels indicate that the 61.8% level is near 2979.06, coinciding with the current close. This suggests that a bounce from this level could be in play, but a break below 2964.79 would target the next key support at 2955.23.

Backtest Hypothesis
A backtesting strategy was evaluated using RSI and MACD bottom divergence as entry signals. RSI was set at an oversold threshold of 30, and MACD bottom divergence was defined as a golden cross (Signal ↑) while the MACD line remained below zero—both suggesting a potential reversal from a downward momentum phase. The strategy used close price data and held positions for 5 trading days without additional risk controls. Over the back-test period from 2022-01-01 to 2025-11-11, this approach aimed to capture early reversal opportunities during bearish phases, aligning closely with the recent price action in ETHEURI.