Market Overview for Ethereum/Eurite (ETHEURI) as of 2025-09-16

• Ethereum/Eurite (ETHEURI) drifted in a tight range before breaking lower in the final 4 hours, closing 0.94% below the previous day’s close.
• Momentum indicators show bearish divergence with price, suggesting further downside risk as RSI approaches oversold territory.
• Volume spiked sharply during the final selloff, aligning with price weakness and reinforcing the bearish bias.
• A key support level forms at 3773.42, with a 61.8% Fibonacci retracement near that level suggesting potential short-term stabilization.

Ethereum/Eurite (ETHEURI) opened at $3812.54 on 2025-09-15 at 12:00 ET, reached a high of $3856.03, and closed at $3785.83 on 2025-09-16 at 12:00 ET. The 24-hour volume amounted to 65.96, and total turnover was $245,293.83.

Structure & Formations

The 24-hour price action shows a bearish consolidation after a brief attempt to rally above $3850. A key bearish signal appears at 2025-09-16 134500, where a long-bodied bearish candle confirmed the breakdown from key resistance. A potential double-top pattern formed around the $3844–3848 level, which now acts as a strong overhead barrier.

Moving Averages

On the 15-minute chart, the 20-period MA is at $3836.2, and the 50-period MA is at $3841.8. Price has moved well below both, indicating a bearish bias. On the daily chart, the 50-period MA is at $3810, and the 200-period MA is at $3805, both aligning with the recent support level of $3773.42.

MACD & RSI

The MACD turned negative around 2025-09-16 060000 and has continued to diverge bearishly from the price action, confirming the bearish momentum. RSI has dropped to 28, indicating oversold conditions but with no immediate sign of a reversal. The divergence between price and RSI suggests further downside could be likely.

Bollinger Bands

Volatility increased during the breakdown on the final 4 hours of the 24-hour period, with price falling outside the lower Bollinger Band. This confirms a sharp selloff in a compressed timeframe. Price has since moved below the band, indicating a high degree of bearish pressure.

Volume & Turnover

Volume spiked during the breakdown, particularly between 2025-09-16 134500 and 150000, where the largest notional turnover occurred. This volume spike confirmed the breakdown and suggests strong selling pressure. There is no clear divergence between price and volume, indicating that the bearish move is legitimate and not a false signal.

Fibonacci Retracements

Applying Fibonacci to the 15-minute swing from $3844.12 to $3750.14, the 61.8% retracement level falls at $3773.42, which coincides with the recent low. On the daily chart, the 50% retracement level of the major swing from $3848.09 to $3750.14 is at $3799.12, a potential target for a near-term bounce if the bearish momentum eases.

Backtest Hypothesis

Based on the observed bearish momentum and confirmed breakdown below key support levels, a potential backtest strategy could focus on short entries at the 61.8% Fibonacci level ($3773.42) with a stop just above the prior swing high at $3815.22. This approach leverages the combination of RSI oversold readings and confirmed breakdown volume. A target for this short position could be the 38.2% Fibonacci level at $3754.35, aligning with a potential short-term bounce area.