Market Overview for Ethereum/Eurite (ETHEURI) – 2025-10-03

• Ethereum/Eurite (ETHEURI) traded in a volatile range, oscillating between 3765.64 and 3887.23, ending slightly lower than the 12:00 ET open.
• Momentum waned by the end of the day, with RSI showing signs of overbought conditions at the peak and a pullback.
• A bullish engulfing pattern formed early in the session but was later negated by a large bearish candle in the afternoon.
• Volatility expanded after 19:00 ET as price tested upper Bollinger bands before a sharp correction.
• Notional turnover spiked during the late session rally, indicating increased activity and potential accumulation or distribution.

Ethereum/Eurite (ETHEURI) opened at 3765.64 at 12:00 ET on October 2, 2025, and traded as high as 3887.23 before closing at 3812.54 at 12:00 ET on October 3. Total 24-hour volume was 136.74, with a notional turnover of approximately $517,651.22 based on mid-range prices.

Structure & Formations

The 15-minute chart showed a strong bullish impulse in the late afternoon, forming a sharp peak at 3887.23, followed by a bearish reversal. A large bullish engulfing pattern formed around 19:15 ET, suggesting a temporary shift in sentiment, but this was quickly negated by a large bearish candle at 22:30 ET that closed near its low. A bearish doji appeared at 00:45 ET, signaling indecision at the bottom of the day’s range. Key support levels formed at 3812.54 and 3800.0, while resistance held at 3825.0 and 3836.2 during the early morning.

Moving Averages

On the 15-minute chart, ETHEURI closed above the 20-period and 50-period moving averages late in the session, indicating a potential short-term rally. However, the price dropped back below both in the early morning, suggesting weakening momentum. On the daily chart, the 50-period MA is at 3807.35, slightly above the 200-period MA at 3803.70, indicating a mildly bullish bias. The price is currently trading just below the 50-day MA, which could act as a key support/resistance point.

MACD & RSI

The MACD showed a bullish crossover in the late afternoon as price approached its high, but the momentum faded quickly in the evening as the MACD histogram contracted. RSI peaked at 76 near 20:00 ET, indicating overbought conditions, and dropped to 53 by 07:00 ET, suggesting a bearish correction. The RSI remains in neutral territory, showing that the market is neither overbought nor oversold but has lost recent bullish impetus.

Bollinger Bands

Volatility expanded significantly in the late afternoon and early evening as the price moved outside the upper Bollinger Band at 3860.0. This expansion was followed by a sharp contraction, indicating a potential reversal. At close, the price was trading near the middle band, suggesting consolidation. The 20-period Bollinger Band width was 20.86, above its recent average of 15.33, reinforcing the view of heightened volatility.

Volume & Turnover

Volume was relatively low in the early part of the session but spiked sharply after 19:00 ET, coinciding with the rally toward the high of 3887.23. Notional turnover mirrored the volume pattern, with the largest spikes occurring during the late afternoon and early evening. However, there was a divergence between price and turnover after 22:30 ET, as the price dropped sharply with only moderate turnover, suggesting a possible distribution pattern or lack of follow-through buying interest.

Fibonacci Retracements

Applying Fibonacci retracements to the 15-minute swing from 3765.64 to 3887.23, the 38.2% retracement level is at 3851.49, which the price touched briefly before reversing. The 61.8% level is at 3820.44, which held strong as support in the early morning. On the daily chart, the 50% and 61.8% Fibonacci levels for the previous week’s range align with the 50-day MA and the 200-day MA, respectively, indicating critical levels to watch.

Backtest Hypothesis

The backtesting strategy focuses on using MACD crossover and Fibonacci retracement levels in conjunction with volume confirmation to identify short-term entries. On this session, a bullish MACD crossover at 19:15 ET was accompanied by rising volume, aligning with the Fibonacci 38.2% retracement level. A sell signal was generated at 22:30 ET when the MACD histogram contracted and the price broke below the 61.8% Fibonacci level with moderate volume, suggesting a high-probability short opportunity. This strategy could be backtested with tighter stop-loss parameters and trailing take-profit levels based on the volatility profile observed in the Bollinger Bands.