ETHPLN Market Overview: Ethereum/Zloty Sees Strong 24-Hour Move

• Price surged 2.3% in 24 hours, closing at 16,105 PLN from 15,948 PLN
• Volatility increased with 15-minute swings exceeding 500 PLN
• RSI and MACD signaled mixed momentum, suggesting potential consolidation
• Volume spiked during key resistance levels but showed divergence in final hours
• Bollinger Bands showed widening volatility with price near upper band in late session

The Ethereum/Zloty (ETHPLN) pair opened at 15,948 PLN at 12:00 ET–1 on September 16, 2025, and closed at 16,105 PLN at 12:00 ET on September 17, reaching a high of 16,299 PLN and a low of 16,000 PLN. Total volume over the 24-hour period was 15.31 PLN, with total turnover amounting to 43.18 ETH. The pair showed increased volatility and a bullish close, suggesting a test of key resistance ahead.

Structure & Formations

The price of Ethereum/Zloty formed a bullish engulfing pattern near 16,000 PLN after a consolidation phase, followed by a higher high at 16,299 PLN. A key resistance level appears to form around 16,250–16,300 PLN, with 16,100–16,150 PLN acting as a critical support zone. A bearish reversal pattern appeared at 16,299 PLN in the early morning, suggesting potential short-term resistance to further upward momentum.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages were in bullish alignment, with the price consistently above both. On the daily chart, the 50-period moving average is approaching the 100-period and 200-period lines, indicating a potential convergence point near 16,200 PLN. The price closed above the 50-period line, reinforcing short-term bullish momentum.

MACD & RSI

The MACD histogram showed a positive divergence in the late hours of the session, indicating increasing bullish momentum, while the RSI moved into overbought territory (above 70) near 16,299 PLN. This suggests a potential pullback or consolidation phase may be imminent. The RSI has shown a slight bearish divergence during the last 15-minute candles, signaling potential caution.

Bollinger Bands

Volatility increased during the session, with the Bollinger Bands widening as the price approached the upper band. The price closed just below the upper band on the 15-minute chart, indicating strong bullish pressure. A retest of the lower band at 16,000–16,100 PLN could offer a short-term buying opportunity if the RSI confirms strength.

Volume & Turnover

Volume spiked during the key bullish breakout at 16,000 PLN and remained elevated as the price surged to 16,299 PLN. Turnover also increased during the late hours of the session but diverged from price in the final 15-minute candle, suggesting potential exhaustion in the current bullish move. This divergence raises the possibility of a near-term correction.

Fibonacci Retracements

Applying Fibonacci retracement to the recent 15-minute swing from 16,000 to 16,299 PLN, the 61.8% level is near 16,199 PLN, acting as a key level to monitor. On the daily chart, the 61.8% retracement of the recent major move from 16,000 to 16,299 PLN aligns with 16,200 PLN, reinforcing its importance as a potential turning point.

Backtest Hypothesis

A potential backtesting strategy for Ethereum/Zloty could focus on identifying the 61.8% Fibonacci retracement level and a bullish engulfing pattern as a buy signal. Entry could be placed on a breakout above the 16,200 PLN level, with a stop-loss placed below the 16,100 PLN support zone. A target could be set at the next Fibonacci extension of 16,350 PLN or the upper Bollinger Band. This strategy would aim to capture continued bullish momentum while managing risk through defined stop-loss and target levels, aligning with the observed trend and key technical levels.