Market Overview for Ethereum/Zloty (ETHPLN) – 24-Hour Summary

• Ethereum/Zloty (ETHPLN) surged to 16,124 PLN intraday but faced profit-taking pressure, ending the 24-hour window at 15,993 PLN.
• Strong bullish momentum was evident mid-day, supported by increased turnover, though late selling capped the rally.
• Key support was tested near 15,600, while resistance held at 15,750 before a sharp move higher.
• Volatility expanded during the 24-hour window, suggesting a potential trend shift or continuation.
• A breakout above 16,000 could confirm bullish momentum, while a close below 15,700 may invite further consolidation.

Ethereum/Zloty (ETHPLN) opened at 15,524 PLN on 2025-09-09 at 12:00 ET, surged to a high of 16,124 PLN, and closed at 15,993 PLN on 2025-09-10 at 12:00 ET. Total traded volume over 24 hours amounted to 68.4441 ETH, with a notional turnover of approximately PLN 1,104,566,779.

Structure & Formations

The ETHPLN chart exhibited multiple key levels of support and resistance, with a notable breakout from a consolidation range forming between 15,600 and 15,750. A bullish engulfing pattern was observed near the 15,700-15,750 zone, suggesting a shift in sentiment. A bearish reversal, however, emerged near the 16,124 high with a large candle closing at 15,993, indicating profit-taking and a potential pullback in the near term. The 15,600 level appears to be a critical support, having held on multiple retests, while the 15,750 level could now act as a dynamic support-turned-resistance. A doji near 15,683 at the close of the morning session hinted at indecision among traders.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are converging slightly above the current price, suggesting a short-term bullish bias. On a broader scale, the 50-period, 100-period, and 200-period daily moving averages are aligned in a bullish configuration, with the price consistently above the 200-period MA. This supports the notion of a longer-term uptrend that may still hold despite the recent volatility. A divergence between shorter and longer-term averages could indicate a potential overbought condition or fatigue in the upward move.

MACD & RSI

The MACD histogram showed a strong positive divergence during the mid-day rally, with a subsequent negative divergence after the 16,124 high. This suggests a potential exhaustion in bullish momentum. The RSI reached 72 near the intraday high, indicating overbought conditions, and has since pulled back to a more neutral zone of 58. This confirms the bearish reversal observed and suggests that the market may consolidate in the near term before another directional move. A sustained close below 50 on the RSI would signal weakening bullish momentum.

Bollinger Bands

Volatility increased significantly during the 24-hour period, expanding the Bollinger Bands from a narrow range early in the morning to a broader band by late afternoon. The price spent much of the day near the upper band, with a sharp pullback occurring after a large candle closed near the 16,124 high. The current price is now sitting near the middle band, suggesting a temporary equilibrium. A retest of the upper band may be anticipated, but a break below the lower band would signal a potential short-term bearish move.

Volume & Turnover

Volume surged during the mid-day rally, peaking at over 16.6948 ETH during a 15-minute candle that closed near 15,702 PLN. This volume spike confirmed the bullish move. However, volume dropped significantly following the intraday high, suggesting a lack of follow-through buying. Notional turnover mirrored this pattern, peaking at PLN 258.6 million during the rally. The divergence between price and volume after the high suggests a potential exhaustion of buyers, increasing the likelihood of a pullback or consolidation phase.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent swing from 15,600 to 16,124, the 38.2% level (15,922) and 61.8% level (15,840) have both been tested with mixed results. The 50% level (15,862) appears to be a key area where a potential continuation or reversal could occur. On a daily basis, Fibonacci levels from a prior leg of the uptrend also align with the current price structure, supporting the idea that the market is in a transitional phase between continuation and consolidation.

Backtest Hypothesis

A potential backtesting strategy would involve entering long positions at a confirmed breakout above the 15,750 resistance level, with a stop-loss placed below the 15,600 support. This is supported by the bullish engulfing pattern and strong volume during the breakout. A short position could be triggered on a confirmed breakdown below 15,700, particularly if it aligns with a negative divergence in the MACD and RSI. The strategy would also incorporate trailing stops based on Bollinger Band contractions to manage risk during periods of increased volatility. This approach aligns with the observed structure and momentum patterns, suggesting a high-probability directional setup over the next 24 to 48 hours.