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Summary
• Price tested 1.1545 resistance but failed to hold above, retreating to 1.1533 support.
• Volume spiked during early morning rebound, confirming a potential short-covering rally.
• RSI signaled overbought conditions around 1.1545 before correction, suggesting bearish momentum.
Anchored Coins AEUR/Tether (AEURUSDT) opened at 1.1544, hit a high of 1.1550, a low of 1.1532, and closed at 1.1540 by 12:00 ET. Total volume reached 2,431.0 units with a turnover of 2,797.19 USD.
Structure & Candlestick Patterns
The price formed a bearish engulfing pattern near 1.1545, followed by a doji at 1.1538, signaling indecision and potential reversal. A descending triangle structure became apparent in the last 4 hours, with 1.1533 acting as a key support level.

Moving Averages
The 20-period and 50-period moving averages on the 5-minute chart crossed bearishly, indicating downward momentum. On the daily chart, the 50-period MA is above the 100-period MA, suggesting a potential longer-term bullish bias.
MACD and RSI
The MACD showed a bearish crossover and negative histogram, reinforcing the downward trend. RSI peaked near 70 before a pullback, suggesting overbought pressure was met with selling.
Bollinger Bands
Volatility expanded during the morning rally, pushing price near the upper band before retreating into the middle band. A contraction in the 5-minute bands suggests a potential breakout or breakdown could be imminent.
Volume and Turnover
Volume spiked during the early morning recovery, particularly at 04:00 ET, with a large 924.6 volume candle confirming a short-term bounce. Notional turnover aligned with volume, reinforcing the validity of the move.
Fibonacci Retracements
The 61.8% Fibonacci retracement level at 1.1537 coincided with a key support level where price found a floor multiple times. The 38.2% level at 1.1543 acted as a resistance cap during the bounce.
Forward-Looking Observations
Price may test 1.1545 resistance again for a possible breakout or confirm breakdown toward 1.1532. Traders should remain cautious as volatility remains high and the market is in a consolidation phase.
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