ETHEURI Market Overview: Ethereum/Eurite Navigates Volatility Amid Strong Final Surge

• ETHEURI opens at 3696.37, hits 3791.01 (high) and 3665.99 (low), closing at 3775.3.
• Price consolidates above a key 3700.19 support after a bearish reversal in early trade.
• Volume surges in late session with bullish momentum confirmed by rising RSI.
• Volatility spikes as Bollinger Bands widen, reflecting mixed short-term sentiment.
• Fibonacci levels suggest potential for 3791.01 as resistance and 3665.99 as support.

Market Overview

Ethereum/Eurite (ETHEURI) opened at 3696.37 on 2025-09-04 and closed at 3775.3 on 2025-09-05. The pair touched a high of 3791.01 and a low of 3665.99, with total volume of 135.4025 and total turnover of approximately $509,170 (assuming EUR as base currency). The 24-hour candle formed a bullish continuation pattern following a key consolidation phase.

Structure & Formations

The 24-hour candlestick pattern shows a strong reversal in the late session, with a long lower shadow near the 3665.99 level and a strong close near the session high of 3791.01, signaling potential bullish momentum. Notable support appears to be forming at 3700.19 and 3696.37, while resistance emerges around 3716.0 and 3738.55. A bearish engulfing pattern appears at 19:30 ET, followed by a bullish piercing pattern at 04:15 ET, suggesting a tug-of-war between short-term bearish and bullish sentiment.

Moving Averages

On the 15-minute chart, the 20-period MA has moved above the 50-period MA, indicating short-term bullish momentum. For the daily chart, the 50-period MA is currently below the 200-period MA, suggesting a broader bearish trend. The 100-period MA is close to the current price, indicating a potential consolidation phase.

MACD & RSI

The MACD line crossed above the signal line early in the session and has remained bullish, with increasing histogram bars showing strengthening momentum. The RSI rose above 60 during the afternoon, reaching as high as 64.5 by the end of the session, suggesting a moderate overbought condition but not extreme. Divergences between RSI and price are minimal, supporting the recent bullish move.

Bollinger Bands

Volatility expanded significantly during the session, with the Bollinger Band width reaching its highest point since the early morning. ETHEURI closed just below the upper band, indicating a potential overbought condition and a possible pullback toward the 3700.19 mid-band level in the short term.

Volume & Turnover

Volume surged in the final hours of the session, with the heaviest buying occurring between 07:00 and 09:00 ET, as the price broke through multiple resistance levels. Notional turnover also spiked during these periods, confirming the strength of the bullish move. However, volume during the bearish reversal in early evening was relatively low, suggesting the sell-off lacked broad participation.

Fibonacci Retracements

Applying Fibonacci levels to the 15-minute swing high (3791.01) and swing low (3665.99), the 61.8% retracement level is at approximately 3755.55. This level may act as a key short-term resistance. On the daily chart, the 38.2% retracement level (around 3704.01) appears to have held during the consolidation phase, suggesting potential for a test of the 61.8% level (3775.3) in the near term.

Backtest Hypothesis

The backtesting strategy aims to identify high-probability reversal patterns in volatile crypto pairs like ETHEURI. The hypothesis relies on a combination of MACD crossovers and Fibonacci retracements to signal long entries when price reaches 61.8% retracement levels and RSI falls back below 50. Today’s action aligns with this strategy: the 61.8% level at 3755.55 was tested and held, and the RSI pulled back into neutral territory. A potential confirmation of the strategy would occur if ETHEURI holds above 3755.55 and the RSI avoids extreme overbought conditions, suggesting a controlled consolidation and higher likelihood of a bullish continuation.