ETHEURI Market Overview: Volatility and Divergences in 24-Hour Session

Summary
• Price opened at $2965.81 and surged to $3030.00, closing at $2945.08.
• High volatility seen between $2965.81 and $3030.00 with no clear trend consolidation.
• Volume spiked during midday rally but diverged in the final hours.
• RSI and MACD signal mixed momentum with overbought/oversold extremes.
• Bollinger Bands show expansion and reversion to mean potential.

Opening Narrative

Ethereum/Eurite (ETHEURI) opened at $2965.81 on 2025-11-05 12:00 ET and reached an intraday high of $3030.00 before closing at $2945.08 by 12:00 ET on 2025-11-06. Total volume across the 24-hour period was 72.84, with a notional turnover of $215,091.20 (calculated as volume × average price).

Structure & Formations

The 24-hour OHLCV data reveals a volatile and choppy price structure. A strong bullish impulse from $2979.00 to $3030.00 was followed by a sharp reversal. A bearish engulfing pattern emerged during the session from 2025-11-05 18:45 to 19:00, confirming bearish momentum. A doji at 03:45 ET signaled indecision, and subsequent bearish momentum led to a pullback to the session's low. Key support levels appear around $2980.70 and $2953.95, while resistance is clustered between $2995.66 and $3004.68.

Moving Averages and Volatility

On the 15-minute chart, the 20-period and 50-period moving averages were in tight convergence during the volatile rally, but the 50-period MA showed a bearish cross in the final hour. On the daily chart, the 50- and 200-period MAs appear aligned bearishly, suggesting a potential continuation of downward pressure. Bollinger Bands expanded widely during the midday rally, reflecting elevated volatility, and then contracted as the price retested the lower band toward the close, indicating mean-reversion potential.

Momentum and Sentiment

Relative Strength Index (RSI) reached overbought territory (above 70) at $3029.88, signaling a potential reversal. It quickly corrected to oversold territory below 30 near $2945.08, suggesting exhaustion on both sides. MACD crossed into negative territory in the final hours, with the histogram contracting, indicating weakening bearish momentum. The divergence between rising prices and declining volume during the intraday rally also raises caution about sustainability.

Volume and Turnover Divergence

Volume surged during the rally from $2979.00 to $3030.00, peaking at over 3.0261 during the bullish impulse. However, volume significantly declined during the bearish reversal, indicating a lack of conviction among buyers. Total turnover was $215,091.20, with a volume-weighted average price of $2960.87. The divergence between volume and price action in the final hours of the session suggests a possible reversal or consolidation.

Fibonacci Retracements

Fibonacci levels on the intraday move from $2965.81 to $3030.00 show a 38.2% retracement at $2997.19 and a 61.8% at $2979.68. The price found support at the 61.8% level during the reversal, aligning with the bearish engulfing pattern. On a daily scale, the 50% retracement of the prior major swing lies around $2945.08, where the price closed, suggesting a possible floor for near-term activity.

Backtest Hypothesis

The backtest hypothesis assumes an automated, candlestick-driven strategy that triggers trades at the open of the next candle after a signal. A forced exit after one day allows for testing short-term directional accuracy and timing efficiency. Key indicators such as MACD crossover, RSI thresholds, and Fibonacci retracement levels were used to define entry/exit points. Preliminary results indicate that combining these signals with risk control may enhance return profiles, especially in high-volatility environments like ETHEURI. The model is flexible and can incorporate additional rules such as stop-loss levels or multi-ticker universes.