ETHEURI Market Overview for 2025-10-03

• Ethereum/Eurite traded in a tight range today, forming a consolidative pattern amid moderate volatility.
• A bullish engulfing candle in the overnight session hinted at potential upward momentum but failed to confirm.
• MACD remained neutral, while RSI showed slight overbought conditions near key resistance levels.
• Turnover surged during the early hours, aligning with a breakout attempt that ultimately stalled.
• Bollinger Bands widened slightly as the market tested recent highs, signaling a potential breakout or retest.

Ethereum/Eurite (ETHEURI) opened at $3765.64 on 2025-10-02 at 12:00 ET and closed at $3820.41 on 2025-10-03 at 12:00 ET. The 24-hour range was between $3746.19 and $3864.93. Total volume amounted to 183.12 units, with a notional turnover of $666,578.24.

Structure & Formations

The price action displayed a series of mixed-directional consolidation patterns, with a key support forming around the $3800–3804.68 range and resistance at $3824.35–3828.3. A bullish engulfing pattern formed overnight around 19:15–19:30 ET, indicating a potential reversal after a bearish trend. This was followed by a doji around 21:30–21:45 ET, suggesting indecision among market participants. The formation of a rising wedge toward the end of the session suggests the market could be preparing for a breakout or a retest of key levels.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart showed a convergence around the $3804–3812.54 range, suggesting a potential support zone. The 50-period line remained above the 20-period line, indicating a mildly bearish bias in the short term. On the daily chart, the 50/100/200-period lines were closely aligned around the $3800–3812.54 zone, suggesting a potential equilibrium point. The price hovered slightly above the 50-day moving average, indicating a balanced market with no strong directional bias.

MACD & RSI

The MACD remained in a neutral zone throughout the day, with a recent crossover to positive territory hinting at the early stages of a potential bullish momentum. RSI fluctuated between 50–65, with a peak above 65 suggesting overbought conditions near $3864.93. However, the price failed to sustain above this level, indicating weak follow-through from the momentum. The divergence between the RSI and price during the afternoon session may signal a potential pullback or sideways consolidation.

Bollinger Bands

Bollinger Bands showed a moderate widening as the price approached and retested the upper band in the early hours of the morning. The volatility spike coincided with the surge in turnover, suggesting increased participation in the market. The closing price of $3820.41 remained within the upper band but did not breach it, indicating that the market may still be in a testing phase. The lower band hovered around $3781.21–3796.84, acting as a soft support level.

Volume & Turnover

Volume peaked during the early hours (02:00–03:30 ET) and again during the afternoon (14:00–16:00 ET), aligning with key price swings. The largest turnover occurred around 03:15–03:30 ET with a volume of 7.1542 units and a high of $3887.23. A notable divergence occurred between price and volume around 20:30–21:15 ET, where price declined but volume remained relatively low. This may indicate weak bearish conviction or a false breakout attempt.

Fibonacci Retracements

Applying Fibonacci retracement levels to the overnight swing (3765.64–3864.93), the 38.2% level aligned with $3836.2 and the 61.8% level with $3803.7. The price retested both levels during the session, with the 38.2% level showing stronger resistance and the 61.8% level acting as a soft support. The current price of $3820.41 sits just above the 61.8% level, suggesting that a break below this could trigger a retest of the 38.2% area or a pullback toward the 50% level.

Backtest Hypothesis

Given the mixed signals from the 15-minute candlestick patterns and the RSI divergence, a backtest strategy could focus on entering long positions on a break above the 38.2% Fibonacci level at $3836.2, with a stop-loss placed below the 61.8% level at $3803.7. Alternatively, short positions may be considered on a retest of the 50-period moving average at $3808.33 if the MACD confirms bearish momentum. This strategy would aim to capitalize on the price's consolidation within the wedge pattern while managing risk through defined stop-loss and take-profit levels aligned with Fibonacci and Bollinger Band levels.