Market Overview: Eurite/Tether USDt (EURIUSDT) — 24-Hour Breakout and Momentum Buildup

• EURIUSDT traded in a tight range early before a bullish breakout in the afternoon.
• Key support at 1.1695 and resistance at 1.1710 tested multiple times.
• Volatility surged after 13:00 ET as price pushed above 1.172.
• RSI reached overbought territory, suggesting a potential near-term reversal.
• Bollinger Bands narrowed prior to the breakout, signaling increased momentum.

The EURIUSDT pair opened at 1.1720 on 2025-09-10 12:00 ET and reached a high of 1.1736 and a low of 1.1671 before closing at 1.1724 at 12:00 ET on 2025-09-11. Total volume for the 24-hour window was 655,112.8 units, while total turnover amounted to approximately 767,687 USD. Price action was characterized by a tightening range early on, followed by a breakout and consolidation phase.

Structure & Formations

Price action formed multiple key support and resistance levels during the session. The 15-minute chart showed a strong support level at 1.1695, which was tested multiple times but held. Resistance was encountered at 1.1710, with a breakout occurring after 13:00 ET as the price surged past this level. A bullish engulfing pattern formed at the 13:30 ET candle, followed by a tall bullish candle at 14:00 ET, which confirmed the breakout. A bearish reversal began to form after 16:00 ET as the RSI entered overbought territory and price failed to close above 1.1736.

Moving Averages

On the 15-minute chart, the price closed above the 20-period and 50-period moving averages, reinforcing the bullish bias. However, the 50-period MA began to slow, indicating a potential pause in momentum. On the daily chart, the 50-period MA crossed above the 100-period MA, a potential sign of a short-term bullish trend. The 200-period MA acted as a minor support at 1.1700, and the price closed slightly above it.

MACD & RSI

The MACD line crossed above the signal line in the morning, confirming the bullish momentum. Divergence began to appear after 16:00 ET, as the price continued to rise but the MACD showed weaker momentum. The RSI hit 73 in the afternoon, entering overbought territory, suggesting a potential pullback in the near term. A reversal could be expected if RSI falls below 60, indicating weakening buyer pressure.

Bollinger Bands

Bollinger Bands contracted between 09:00 ET and 13:00 ET, signaling a period of consolidation before the breakout. Price action broke above the upper band at 13:30 ET and remained within the bands for most of the session, indicating controlled volatility. A widening of the bands after 15:00 ET suggested increasing volatility and uncertainty in the market.

Volume & Turnover

Volume surged after 13:00 ET, confirming the breakout above 1.1710. A sharp increase in volume occurred again at 14:00 ET as the price hit a new high for the session. Notional turnover also spiked, aligning with price movement and reinforcing the bullish bias. However, volume declined after 16:00 ET as the price consolidated, indicating a potential pause in momentum.

Fibonacci Retracements

Applying Fibonacci retracement levels to the 13:00–14:00 ET swing revealed key levels at 1.1724 (38.2%) and 1.1736 (61.8%), both of which were tested during the afternoon. Price action pulled back to the 61.8% level before consolidating, suggesting a potential retest of support at 1.1710.

Backtest Hypothesis

Based on today’s breakout pattern, a potential backtesting strategy could involve a long entry on a close above 1.1710 with a stop-loss below 1.1695. This setup could be tested using a 15-minute time frame with an exit at the next Fibonacci level of 1.1736. Given the current momentum and volume confirmation, this strategy could serve as a high-probability trade model for similar setups in the future, assuming proper risk management and a trailing stop are in place.