ETHEURI Market Overview: 24-Hour Analysis on 2025-10-10

• ETHEURI declined sharply from a 24-hour high of $3,798.92 to a low of $3,515.58, closing at $3,534.18 with bearish momentum.
• A large bearish engulfing pattern formed around 15:15 ET as price dropped 134.1 basis points on high turnover.
• Volatility spiked as Bollinger Bands widened, and RSI hit oversold territory below 30.
• Volume surged to 14.7k during the 15:45–16:00 ET window, confirming bearish pressure.
• Fibonacci 61.8% retracement aligned closely with the recent low, suggesting potential for further support testing.

At 12:00 ET on 2025-10-09, Ethereum/Eurite opened at $3,718.30 and traded as high as $3,798.92 before closing the 24-hour period at $3,534.18. The pair dropped to a low of $3,515.58 and experienced a total volume of 100.24 units with a notional turnover of $354,983.

The price action over the past 24 hours was driven by a sharp selloff beginning around 15:15 ET. A large bearish engulfing candle formed as the price closed at $3,584.56 after opening at $3,698.68, signaling strong selling pressure. This was accompanied by a high volume of 10.66 units, confirming the move. The formation of a doji at the end of the session near $3,534.18 suggested a potential short-term reversal or consolidation point.

The 20-period and 50-period moving averages on the 15-minute chart crossed bearishly during the selloff, indicating a bearish bias. The 50-period MA on the daily chart now sits above the 200-period MA, forming a bearish “death cross” pattern. The RSI dropped to 29, indicating an oversold condition, while MACD lines showed a bearish crossover as momentum shifted decisively downward.

Bollinger Bands widened during the selloff, with price touching the lower band at $3,515.58, a sign of high volatility. This expansion suggests that price could continue to consolidate or test key Fibonacci levels from the recent swing high at $3,798.92. The 61.8% retracement level at $3,513.00 is now a critical support zone.

Backtest Hypothesis
The selloff and bearish pattern suggest a potential mean-reversion setup from the recent Fibonacci 61.8% retracement level. A backtesting strategy could involve entering long near $3,513.00 with a stop-loss below $3,500 and a target at $3,600. Given the confirmation from volume and RSI, this could be used to test whether the market is likely to consolidate or resume the downward trend over the next 48 hours. The bearish engulfing and doji patterns, however, suggest caution and highlight the need for tight risk management.