Market Overview for Ethereum/Mexican Peso (ETHMXN) – 24-Hour Period Ending 2025-10-12 12:00 ET

• ETHMXN opened at 72,448 MXN and closed near that level, with a notable selloff to 70,500 MXN intraday.
• Price spent most of the 24 hours consolidating near 71,265 MXN, suggesting a potential support level.
• A sharp rebound occurred after 20:30 ET, pushing the pair above 71,500 MXN with increased volume.
• RSI shows signs of bottoming, hinting at possible short-term oversold conditions.
• Bollinger Bands remain narrow, indicating low volatility with potential for a breakout.

The Ethereum/Mexican Peso (ETHMXN) pair opened at 72,448 MXN and saw a sharp sell-off to 70,500 MXN, with a 24-hour high of 76,907 MXN and low of 70,500 MXN. At 12:00 ET, it closed at 76,907 MXN. Total volume was 13.18 ETH, and notional turnover stood at approximately 1.017 billion MXN.

Over the past 24 hours, ETHMXN demonstrated a bearish bias early in the session with a significant price drop to 70,500 MXN. A consolidation phase followed, with the price stabilizing near 71,265 MXN, forming multiple small doji and bullish engulfing patterns. The late-evening rebound to 71,500 MXN and above 76,907 MXN at the close suggests a potential reversal. The 15-minute chart shows 20-period and 50-period moving averages (SMA) closely aligned, with price testing the lower band of the Bollinger Bands during the consolidation phase.

The RSI indicator has moved from oversold territory in the early hours to a neutral range, indicating a potential short-term reversal. MACD lines crossed to the positive side near 20:30 ET, reinforcing the bullish bias. Fibonacci retracement levels from the 70,500 MXN to 76,907 MXN swing show ETHMXN closing near the 100% level, suggesting a strong bounce from the support zone.

Volume and turnover were generally subdued during the consolidation phase but surged during the late-evening rebound. The increased volume during the recovery supports the validity of the bullish reversal pattern. A divergence was noted between price and RSI in the early hours, signaling a possible exhaustion of the bearish trend.

The 15-minute chart suggests ETHMXN is in a short-term bullish setup, with 71,265 MXN acting as a strong support and 76,907 MXN as the most recent resistance. The next 24 hours could see a test of the upper Bollinger Band and 50-period SMA. While the pattern appears bullish, investors should remain cautious as a false breakout could lead to renewed bearish pressure.

The backtesting strategy described involves identifying short-term bullish engulfing patterns and doji formations during consolidation phases, combined with RSI bottoming and MACD crossovers. On the 15-minute chart, this setup was visible from 20:30 to 21:00 ET, with the price rebounding off 70,500 MXN. The strategy would have entered a long position upon confirmation of the bullish engulfing pattern and exited near the 76,907 MXN level for a profit.

Using the Fibonacci retracement from the key swing, the 100% level coincided with the 76,907 MXN close. This suggests that the strategy aligns well with the ETHMXN price action and could be used for future short-term trading setups. A stop-loss just below 71,265 MXN would have managed the risk effectively, as it acted as a strong support level during the consolidation phase.