Market Overview for Ethereum/Eurite (ETHEURI) on 2025-10-11

• Ethereum/Eurite (ETHEURI) declined sharply during the 24-hour window, breaking below key support levels.
• Momentum indicators suggest oversold conditions but no strong reversal signs.
• Volatility spiked midday as price dropped over 10%, with a large-volume candle marking the decline.
• Bollinger Bands widened significantly, signaling heightened uncertainty and potential for a range-bound bounce or continued bearish momentum.
• Volume remained uneven, with heavier selling during the early evening hours.

Ethereum/Eurite (ETHEURI) opened at $3540.0 at 12:00 ET on 2025-10-10 and closed at $3362.8 at 12:00 ET on 2025-10-11, with a 24-hour high of $3569.71 and a low of $3176.94. Total traded volume was 190.88 units, while turnover amounted to approximately $594,617. The asset experienced a sharp bearish bias, particularly during the early evening, marked by a large-volume candle that triggered a 10% drop from intraday highs.

Structure & Formations

Price action on the 15-minute chart revealed a critical breakdown at $3326.87, which held as a pivot point for several hours before being retested and ultimately broken during a late-day volume spike. A long-bodied bearish candle at 19:30 ET, with a wide range of $3404.82 to $3326.87, acted as a major catalyst for bearish sentiment. A doji formed at 05:30 ET near $3277.9, suggesting indecision, but the price failed to reclaim above $3340.0, indicating continued bearish pressure. A 12:30 ET bullish engulfing pattern near $3362.8 to $3376.0 failed to gain momentum, suggesting buyers lacked conviction.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages were both bearish, with price closing below both. The 50-period line acted as a dynamic resistance, which price attempted to retest but failed to cross back above. On the daily chart, the 50, 100, and 200-period moving averages remained bearish, with the 200-period line acting as a long-term trend line. Price has not shown a sustained cross above these, and the structure remains in a bearish alignment.

MACD & RSI

MACD remained bearish throughout the 24-hour period, with the histogram shrinking slightly in the final 4 hours as volume waned, suggesting a possible exhaustion of the downward move. RSI dipped below 30 in the early evening, hitting 27.8 at one point, indicating oversold conditions. However, price did not find a strong rebound off these levels, and a bearish divergence emerged between RSI and price action, signaling the potential for further downside.

Bollinger Bands

Bollinger Bands showed a sharp expansion during the early evening drop, particularly from 19:30 to 20:30 ET, where the asset gapped significantly below the lower band. This volatility spike was accompanied by a large-volume candle. Since then, price has tested the lower band several times, with the last retest at 05:45 ET failing to hold. As of 12:00 ET on 2025-10-11, the price is near the lower band, suggesting either a continuation of the downtrend or a potential bounce into the mid-band.

Volume & Turnover

Volume was unevenly distributed, with the largest single candle occurring at 21:15 ET, where 12.2933 units traded and the price fell from $3326.87 to $3176.94. This candle alone accounted for over 6.4% of total volume and marked the start of the most significant bearish move. Turnover spiked alongside this volume, with a total of $594,617 traded over the 24-hour window. The price and volume action aligned well during this move, confirming the bearish sentiment. However, after 04:00 ET, both volume and turnover declined, suggesting a possible short-term lull.

Fibonacci Retracements

Applying Fibonacci retracement levels to the intraday swing high at $3569.71 and the low at $3176.94, the 38.2% level is at $3430.61 and the 61.8% level is at $3294.24. Price has tested the 61.8% level multiple times but failed to hold above it. As of 12:00 ET on 2025-10-11, the price is hovering just below this level, suggesting a potential test of support in the coming hours. A break below the 61.8% retracement may signal a continuation of the bearish trend toward the 78.6% level at $3222.58 or lower.

Backtest Hypothesis

The backtest strategy described involves a mean-reversion approach using RSI and Bollinger Band interactions on the 15-minute chart. The hypothesis is that ETHEURI tends to reverse when RSI dips below 30 while price is near the lower Bollinger Band. Historical data from the last 24 hours supports this trigger, as RSI hit 27.8 near the lower band. However, the lack of a strong bounce and the bearish divergence in RSI suggest that this strategy may have a lower success rate unless the market shows a reversal in the next 24 hours. Incorporating volume and Fibonacci levels may improve the strategy’s robustness, particularly in identifying whether the oversold condition will lead to a rebound or a continuation of the downtrend.