Market Overview for Ethereum/Eurite (ETHEURI): Volatility and Bearish Momentum in 24 Hours

• Ethereum/Eurite (ETHEURI) broke key support on the 15-minute chart after a late-night selloff, with price falling 2.7% over 24 hours.
• Volatility surged in early morning hours before stabilizing, as Bollinger Bands widened and then narrowed.
• RSI entered oversold territory below 30 during the selloff, suggesting potential for a short-term bounce.
• Volume spiked during the downward move, confirming bearish momentum but showing no divergence with price.
• A key support area is forming near 3650, coinciding with the 61.8% Fibonacci level of the recent rally.

Ethereum/Eurite (ETHEURI) opened at $3700.19 on 2025-09-04 at 12:00 ET and closed at $3781.21 on 2025-09-05 at 12:00 ET. The 24-hour range was $3683.23 to $3826.29, with total volume of 115.47 and turnover of approximately $428,802.78. Price surged in the afternoon but faced a sharp sell-off overnight, breaking key psychological levels.

Structure & Formations

On the 15-minute chart, ETHEURI displayed a bearish structure after a strong intraday rally, with a bearish engulfing pattern forming at the high of the day. A notable doji emerged at 3704.01, signaling indecision. Price then tested support levels at 3696.37 and 3688.75, with the latter showing strong rejection. The final hours showed consolidation near 3781.21, indicating a potential short-term bottoming process.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart crossed to the downside during the selloff, reinforcing bearish momentum. On a daily basis, ETHEURI is trading below the 50- and 200-day moving averages, suggesting bearish bias for the longer term. A crossover back above the 20-EMA could signal short-term bullish momentum if supported by volume.

MACD & RSI

The MACD turned bearish in the late hours of the selloff, with a negative histogram expansion. RSI dropped below 30 during the selloff, indicating oversold conditions, although not an immediate reversal signal. The combination of a bearish MACD and oversold RSI suggests a potential bounce may be imminent.

Bollinger Bands

Bollinger Bands expanded significantly during the early morning sell-off, reflecting heightened volatility. Price tested the lower band at 3683.23 before bouncing back. A consolidation period saw the bands contract again, suggesting reduced volatility. If the price holds above 3650, it could retest the upper band at 3800+ in the next 24 hours.

Volume & Turnover

Volume surged during the downward move, with over 15 units traded during the 12:45 ET candle. This confirms bearish momentum. Turnover spiked in the early morning and late afternoon, showing divergent buying and selling pressure. No significant divergence was observed between price and turnover, indicating alignment in sentiment.

Fibonacci Retracements

Key Fibonacci levels from the recent swing high to low include 61.8% at 3650. The current price is near this level, which could offer either support or trigger a bounce. A break below 3650 would target 3620 as the next Fibonacci level. On the 15-minute chart, 3704.01 remains a critical pivot, with potential for retesting as a key 38.2% retracement.

Backtest Hypothesis

A backtest strategy could focus on the convergence of bearish engulfing patterns, oversold RSI, and a break of key Fibonacci support at 3650. A short entry on a confirmed break of this level with a stop just above 3704.01 may offer a high-probability trade. This setup is reinforced by bearish divergence in the MACD and volume confirmation. The risk/reward ratio is favorable with a target of 3620 and a stop at 3710.