Market Overview for Ethereum/Eurite (ETHEURI) – 2025-09-15 24-Hour Summary

• ETHEURI opened at $3892.75, reached $3975.40, fell to $3800.00, and closed at $3809.33.
• A sharp selloff emerged after 08:15 ET, with price dropping 1.73% in 45 minutes.
• Volume surged during the selloff (12.5774) but remained muted post-14:00 ET.
• RSI hit oversold territory near 30, while MACD turned bearish.
• Bollinger Bands widened significantly during the downturn, signaling heightened volatility.

Ethereum/Eurite (ETHEURI) traded in a volatile 24-hour period, opening at $3892.75 and reaching a high of $3975.40 before closing at $3809.33 at 12:00 ET. Total volume for the day was 99.3838, and notional turnover was approximately $387,141. The price swung sharply in the afternoon session, with a key breakdown observed around 08:15 ET.

Structure & Formations

The price formed a bearish engulfing pattern at the top of a short-term bullish trend, signaling a reversal. A key support level at $3821.14 held twice but was eventually broken in late afternoon trading. A doji appeared at $3975.40, indicating indecision. A large bearish candle at 08:15 ET confirmed the breakdown of bullish momentum and marked a significant short-term trend reversal.

Moving Averages

On the 15-minute chart, price moved below both the 20- and 50-period moving averages during the afternoon selloff, confirming the bearish shift. For daily charts, the 50-period MA remained above the 200-period MA, suggesting a longer-term bullish bias, but price is now trading closer to key support levels.

Backtest Hypothesis

The above bearish engulfing pattern and the breakdown below key support levels align well with the backtesting strategy outlined. A short entry triggered by the breakdown of $3821.14 with a stop above $3840.16 could have captured a significant portion of the move to $3800.00. This strategy would benefit from volatility expansion and bearish momentum seen in the MACD and RSI.

MACD & RSI

The MACD turned bearish during the afternoon, with a negative crossover and declining histogram. RSI dipped to oversold levels (~30), but divergence was not evident—price continued lower despite the reading. This suggests the bearish move may not be over yet, though short-term oversold conditions could offer some support.

Bollinger Bands

Bollinger Bands expanded significantly during the afternoon selloff, reflecting a period of high volatility. Price closed near the lower band, suggesting potential for a bounce. However, if the breakdown is confirmed, further downside into the $3700–3800 range could be expected.

Volume & Turnover

The selloff from $3975.40 to $3800.00 occurred on elevated volume (12.5774), confirming the move. However, after 14:00 ET, volume and turnover dropped significantly, indicating a lack of follow-through. This suggests the bearish move may be losing momentum, but without confirmation of a reversal, caution is warranted.

Fibonacci Retracements

Key retracement levels from the $3800.00 to $3975.40 swing include 38.2% at $3861.14 and 61.8% at $3894.45. These levels could act as initial resistance in a potential bounce. A rebound to the 38.2% level appears plausible in the near term, particularly if RSI holds above 30.

The price action has shown a strong bearish bias, with key support levels under pressure and momentum indicators confirming the trend. While the MACD and RSI may hint at a potential bounce, a sustained move above $3840.16 is necessary to confirm a reversal. Investors should closely watch for signs of a reversal or a break below $3800.00 in the coming 24 hours.