Market Overview for Ethereum/Eurite (ETHEURI) – 2025-10-06

• Ethereum/Eurite (ETHEURI) traded in a bullish trend, forming a key breakout above 3900 with high-volume confirmation near the close.
• Momentum indicators show rising RSI and positive MACD, suggesting potential for further upside.
• Bollinger Bands have widened, indicating increased volatility and a possible continuation phase.
• Volume and turnover aligned with price highs, supporting the strength of the upward move.
• A bullish engulfing pattern was seen near 3895.99, hinting at possible follow-through.

Ethereum/Eurite (ETHEURI) opened at 3836.2 on 2025-10-05 at 12:00 ET and closed at 3912.09 by 12:00 ET on 2025-10-06, recording a high of 3983.81 and a low of 3807.4 over the 24-hour window. Total volume traded was 172.76, with notional turnover reaching 675,026.65.

Structure & Formations

The 24-hour chart shows a strong bullish bias with multiple support levels identified around 3824.35 and 3836.2. A key resistance level appears near 3904.02, where price paused briefly before continuing its ascent. A bullish engulfing candle was observed at 3895.99, indicating a potential reversal from prior bearish momentum. A doji-like formation near 3833.33 suggests a brief consolidation period before the uptrend resumed.

Moving Averages

On the 15-minute chart, ETHEURI closed above both the 20 and 50-period moving averages, reinforcing the bullish momentum. The 50-period line was particularly significant, as it acted as a dynamic support during the early part of the day. On the daily chart, the 50/100/200-period lines are aligned to the upside, with the 200-period line acting as a strong foundational support near 3700.

MACD & RSI

MACD turned positive around midday and remained in bullish territory through the close, with a growing histogram suggesting increasing bullish momentum. RSI climbed into overbought territory above 65, indicating that the market is extending higher with strong conviction. This suggests the trend could continue, but traders should watch for a potential pullback if RSI fails to correct before hitting 70.

Bollinger Bands

Bollinger Bands have expanded significantly, reflecting heightened volatility. Price remains near the upper band for much of the day, particularly after 06:00 ET, suggesting a strong continuation pattern. The widening of the bands also indicates that the market is experiencing increased participation and sentiment.

Volume & Turnover

Volume spiked dramatically during the late hours, especially after 13:00 ET, with a final push to a high of 3983.81. Notional turnover closely followed volume, confirming the strength of the move. The correlation between price and turnover during this period suggests the rise is backed by genuine buying pressure, rather than a speculative rally.

Fibonacci Retracements

Applying Fibonacci retracement levels to the key 15-minute swing from 3807.4 to 3983.81, the 38.2% level is at 3892.98 and the 61.8% level is at 3944.31. Price has touched the 38.2% level twice but has yet to test the 61.8% level. On the daily chart, the 50% level of the recent rally sits around 3866.67 and has been a key pivot point for price multiple times.

Backtest Hypothesis

A potential backtesting strategy involves entering long positions when ETHEURI breaks above the 20-period moving average on the 15-minute chart, confirmed by a bullish engulfing pattern and a MACD crossover into positive territory. A stop-loss could be placed just below the most recent swing low, while a take-profit target could be aligned with the 61.8% Fibonacci level. This strategy would aim to capitalize on short-term momentum in a low-latency environment.

Forward-Looking View

Looking ahead, ETHEURI may attempt a test of the 61.8% Fibonacci level at 3944.31, with further gains possible if the 3904.02 resistance is clearly held. A breakdown below 3866.67 could signal a pullback, though volume suggests that the bullish trend remains intact. Investors should remain cautious of overbought RSI levels and watch for divergence to manage risk.