Market Overview: Eurite/Tether (EURIUSDT) 24-Hour Summary

Summary
• Price declined on higher volume, failing to hold key resistance at 1.1740.
• Momentum indicators show weakening bullish pressure, with RSI near oversold territory.
• Volatility remained compressed within a tight Bollinger Band channel.
• A bearish engulfing pattern formed at 1.1735, suggesting short-term bearish bias.
• Volume spiked briefly at 1.1719 but failed to confirm a strong move lower.

Eurite/Tether (EURIUSDT) opened at 1.1742 on 2026-01-02 at 12:00 ET, reached a high of 1.1742, and closed at 1.1720 on 2026-01-03 at 12:00 ET, with a low of 1.1713. Total volume for the 24-hour period was 230,373.3, and notional turnover was approximately 266,756.41.

Structure & Formations

Price remained in a descending channel, with 1.1740 acting as a strong resistance and 1.1716–1.1718 forming a short-term support. A bearish engulfing pattern at 1.1735 suggests potential for further downward correction. No strong reversal patterns emerged, though several doji in the 1.1719–1.1720 range indicate indecision.

Moving Averages

On the 5-minute chart, the 20-EMA and 50-EMA are both in a bearish crossover, reinforcing the downward trend. Daily moving averages suggest price is trading below the 200-day MA, indicating a longer-term bearish bias.

MACD & RSI

MACD showed a bearish crossover with a weak histogram, suggesting waning bullish momentum. RSI fell below 30 for much of the period, reaching as low as 28.5, indicating potential oversold conditions and a possible near-term bounce.

Bollinger Bands

Volatility remained low, with price confined between the 1.1713 and 1.1725 range over the past 20 periods. No clear breakout occurred, and the channel shows signs of consolidation rather than expansion.

Volume & Turnover

Volume spiked at key support levels (notably 1.1719–1.1720) but failed to confirm a sustained bounce. Turnover moved in line with volume, with no major divergences observed. Price and turnover aligned in the lower end of the range, suggesting bearish conviction.

Fibonacci Retracements

A 5-minute swing from 1.1742 to 1.1716 saw price holding near the 61.8% retracement level at 1.1728. A daily Fibonacci move from recent highs to 1.1716 also saw support at key levels, suggesting a possible short-term bottom.

Price appears to be consolidating within a tight range, with strong bearish pressure evident in the candlestick structure and volume dynamics. A break below 1.1716 may trigger further downside, while a close above 1.1735 could signal a potential reversal. Investors should remain cautious, as volatility remains low and directional moves are yet to be confirmed.