Eurite/Tether (EURIUSDT) Market Overview

Summary
• Price closed near the 24-hour low, suggesting bearish momentum.
• Volatility surged in the late evening with a significant breakdown.
• RSI indicates oversold conditions, hinting at a possible short-term rebound.

The Eurite/Tether (EURIUSDT) pair opened at $1.1524 on 2025-11-03 12:00 ET and closed at $1.1492 by 12:00 ET on 2025-11-04. The price reached a high of $1.1536 and a low of $1.1475 during the period. Total volume was 698,576.8, with notional turnover reflecting active trading behavior.

Structure & Formations reveal a strong bearish trend from the overnight session, with a breakdown below key support at $1.1510. A bearish engulfing pattern emerged between 02:15 and 03:15 ET, confirming downward momentum. A bearish doji at 02:30 ET signaled indecision before the sharp decline. Key support levels to monitor are $1.1500 and $1.1480, while resistance lies at $1.1515.

The 15-minute chart shows the 20-period MA below the 50-period MA, confirming bearish bias. On a daily timeframe, the 50-period MA appears to be testing the 100-period MA, which may influence near-term direction. A cross-over could indicate a shift in sentiment.

MACD shows bearish divergence with the RSI entering oversold territory. The MACD line has crossed below the signal line, confirming a death cross pattern. RSI is at ~30, indicating the pair could experience a short-term rebound. However, this remains within a broader bearish context. Bollinger Bands have widened, reflecting increased volatility, with the price now trading near the lower band. This suggests a potential bounce toward the mid-band in the near term.

Volume increased sharply overnight, with the most significant volume spike observed between 02:00 and 04:00 ET. Turnover aligned with price action, confirming the breakdown. However, as the price approached the 24-hour low, volume slightly declined, raising questions about the strength of the bearish move.

Fibonacci retracements applied to the recent 15-minute high ($1.1536) and low ($1.1475) show the pair currently trading near the 61.8% level ($1.1493), which may act as a temporary support. On the daily chart, the 38.2% and 61.8% levels may influence price action if the trend resumes.

The price may test $1.1475 over the next 24 hours, but a rebound above $1.1500 could reverse near-term sentiment. Investors should remain cautious about potential volatility spikes.

Backtest Hypothesis
The EURIUSDT pair may serve as a proxy for EURUSDT, depending on its market listing and liquidity. If EURIUSDT is not available or illiquid, a backtest on EURUSDT would be more accurate. If confirmed, the strategy involves retrieving daily MACD data for EURUSDT from 2022-01-01 to 2025-11-04, identifying each death cross event, and assessing the average post-signal price behavior. This would help evaluate whether such signals historically predict bearish moves or false signals. An interactive visual module would enhance the understanding of these patterns.