Market Overview: Eurite/Tether Consolidates Amid Mixed Signals

Summary
• Price consolidates near 1.1711–1.1718 range with bearish bias after fractal breakdown.
• RSI signals oversold conditions while volume surges confirm short-term bear momentum.
• Bollinger Bands tighten during overnight hours, hinting at potential volatility expansion.

Eurite/Tether (EURIUSDT) opened at 1.1716 on 2026-01-03 12:00 ET, hit a high of 1.1724, a low of 1.1708, and closed at 1.1711 on 2026-01-04 12:00 ET. Total volume for the 24-hour window was 120,439.2, with a notional turnover of 139,034.63.

Structure & Formations

Price action formed a bearish fractal breakdown near 1.1711–1.1713, with 1.1713 emerging as key support and 1.1716–1.1718 as initial resistance. A long lower shadow at 00:00 ET hints at potential reversal, though the overall structure remains bearish. No strong engulfing or doji patterns emerged, but tight consolidation suggests a potential breakout ahead.

Moving Averages

On the 5-minute chart, the 20SMA and 50SMA crossed bearishly in the early morning hours, reinforcing the bearish bias. On the daily chart, price remains above the 200DMA, but the 50DMA and 100DMA are converging from above, hinting at short-term bear momentum.

MACD & RSI

The MACD remained bearish throughout the day, with a narrowing histogram and negative crossover. RSI hit oversold levels (<30) during the overnight session, suggesting potential for a short-term rebound. However, RSI divergence remains weak without corresponding bullish price action.

Bollinger Bands

Bollinger Bands tightened between 01:00 and 05:00 ET as volatility waned, before widening again during the Asian session. Price remained near the lower band for much of the session, reinforcing the bearish tilt and hinting at a potential bounce.

Volume & Turnover

Volume spiked dramatically at 00:15 ET (32,760.2) and again at 06:30 ET (14,768.3), aligning with key breakdowns. Turnover also surged during those periods, confirming bear momentum. Price and turnover aligned during the key moves, indicating conviction in the short-term bearish trend.

Fibonacci Retracements

A 5-minute swing from 1.1708 to 1.1724 saw price test the 38.2% retracement (1.1716) and stall at the 61.8% level (1.1713). On the daily chart, the 61.8% retracement of the prior month’s range remains a key area of interest near 1.1710–1.1715.

EURIUSDT may test support at 1.1708 and resistance at 1.1718 in the next 24 hours. Traders should watch for a break of the 1.1713 level to confirm bearish momentum. Volatility could rise as Bollinger Bands widen, but a sustained close above 1.1716 would suggest a reversal risk.