Euler/USDC Market Overview – 2025-11-10

Summary
• Euler/USDC surged to a 24-hour high of $6.496 amid strong volume spikes.
• Momentum diverged on RSI overbought territory and declining volume post-peak.
• Bollinger Bands indicate a volatility expansion following early morning breakouts.

Euler/USDC (EULUSDC) opened at $5.862 on 2025-11-09 at 12:00 ET and closed at $6.112 as of 12:00 ET on 2025-11-10. The pair traded between $5.862 and $6.535, with total volume reaching 93,985.51 and notional turnover (in USDC) totaling approximately $571,311.20 over the 24-hour period.

Price action began in consolidation but accelerated upward from 20:30 ET with a sharp move to $6.535, followed by a pullback into a volatile range between $6.10 and $6.25. A bearish divergence in volume appeared as the price retreated, suggesting potential exhaustion in the bullish momentum.

Structure & Formations

Key support levels emerged at $6.106 and $6.016, while resistance became evident around $6.181 and $6.25. Notable patterns included a bullish engulfing pattern at the top of the morning breakouts and a bearish spinning top near $6.203, signaling possible distribution.

Moving Averages

On the 15-minute chart, the 20-period MA crossed above the 50-period MA mid-morning, supporting the bullish breakout. On the daily chart, price closed above the 200-period MA, indicating a longer-term positive bias.

MACD & RSI

The MACD histogram turned negative after the $6.535 high, confirming bearish momentum. RSI peaked above 70, entering overbought territory without confirmation in volume, suggesting caution ahead.

Bollinger Bands

Bands were in expansion mode following the early morning breakout. Price tested the upper band around $6.535 and then fell back within the band structure, indicating a possible return to consolidation.

Volume & Turnover

Volume spiked above 5,000 during the breakout but declined sharply in the late hours, with turnover diverging slightly from price action. This divergence suggests the rally could be losing steam.

Fibonacci Retracements

A 61.8% retracement level at $6.32 and a 38.2% level at $6.18 became psychological barriers during the day, with price reacting at both levels, particularly showing weakness at the 61.8% level.

Backtest Hypothesis

Given the sharp move up followed by a bearish divergence in volume and RSI, a short-term trading strategy may involve entering on a break below $6.106 with a stop above $6.181. A 3-day exit rule could capture the expected consolidation phase. However, traders should remain cautious of potential long-term buyers stepping in near key support levels.