ETH/EURI Plunges Past 1880.85 as Bearish Engulfing Confirms Control

Summary
• Price declined sharply from 1945.36 to 1845.0, breaking key support near 1880.85.
• Volume surged in the final 1.5 hours, confirming bearish momentum.
• RSI signaled oversold conditions near 1845.0, suggesting potential for bounce.
• Bollinger Bands expanded during the drop, indicating rising volatility.
• A large bearish engulfing pattern formed at the 1945.36 high.

Ethereum/Eurite (ETHEURI) opened at 1899.45 on 2026-03-18 12:00 ET, surged to 1945.36, dropped to 1845.0, and closed at 1845.0 at 12:00 ET. Total volume was 90.23, with notional turnover of 169,438.66.

Structure & Formations

Price broke below critical support at 1880.85 during a sharp 1.5-hour selloff, confirming bearish control. A large bearish engulfing candle formed at the intraday high of 1945.36, indicating a top reversal. A doji at the close suggests exhaustion near 1845.0, with 1876.56 acting as near-term support.

Moving Averages

On the 5-minute chart, price closed below all key MAs, reinforcing a downtrend. The 20-period MA at 1915.29 and 50-period MA at 1921.59 were breached in early evening, signaling bearish momentum. On the daily chart, price remains below 50/100/200 MAs, indicating sustained bearish pressure.

MACD & RSI

The MACD line turned negative during the decline, confirming weakening bullish momentum. RSI dropped below 30 at 1845.0, entering oversold territory—suggesting a potential rebound. However, divergences between price and RSI in the early session hint at distribution rather than a deep correction.

Bollinger Bands

Bands widened significantly during the selloff, with price closing at the lower band near 1845.0. The contraction in earlier hours suggested range-bound consolidation before the breakout. The volatility spike suggests increased uncertainty in the market.

Volume & Turnover

Volume remained subdued for most of the 24-hour period, but spiked sharply during the final 1.5 hours as price dropped below key levels. Notional turnover confirmed the bearish break, aligning with price action. A divergence between volume and price occurred in early morning hours, suggesting potential short-term accumulation.

Fibonacci Retracements

The 1945.36 to 1845.0 decline saw price retrace to 61.8% at 1894.04 earlier in the session, where it found resistance. On the daily chart, the next Fibonacci level to watch is 38.2% at 1888.43, which could offer a near-term floor if bulls re-enter the market.

Ethereum/Eurite may test 1880.85 again as buyers attempt to defend this level, but the risk of a further breakdown remains elevated. Investors should monitor volume and RSI for signs of a reversal before committing to long positions.