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

Summary
• Price surged to $3154.56 after a 15-minute breakout, driven by high-volume bullish momentum.
• RSI and MACD show strong positive divergence, suggesting potential overbought conditions but strong upward bias.
• Volatility expanded, with Bollinger Bands widening, indicating a shift from consolidation to aggressive buying.
• A key support level appears near $3070.47, with price rebounding multiple times from this area.
• The Bullish Engulfing pattern confirmed a short-term reversal in earlier sessions, aligning with a successful backtest strategy.

Ethereum/Eurite (ETHEURI) opened at $3053.24 on 2025-11-10 at 12:00 ET, surged to a high of $3154.56 before closing at $3098.24 on 2025-11-11 at 12:00 ET. The total 24-hour volume amounted to 53.86, with a notional turnover of $165,127.64.

Price action shows a clear bullish trend driven by strong volume and momentum. After a consolidation phase between $3055.15 and $3076.62, ETHEURI broke out with a powerful candle on 01:30 ET, forming a significant Bullish Engulfing pattern. This pattern confirmed a reversal and led to a sharp rally toward $3154.56. The price appears to have found a key support level around $3070.47, where it has bounced off multiple times. Resistance has formed near $3092.05, which may hold as a critical price level for near-term direction.

The 15-minute MACD shows a strong positive divergence, with the histogram rising significantly after the breakout, indicating strong upward momentum. The RSI reached overbought territory around $3154.56 but pulled back to a more neutral level by the end of the 24-hour window, suggesting a possible consolidation phase. Bollinger Bands have widened, reflecting increased volatility, with price currently trading near the upper band, indicating a continuation of the bullish trend. The 20-period and 50-period moving averages on the 15-minute chart are both bullish, reinforcing the uptrend.

Fibonacci retracement levels from the key swing high and low show that the 61.8% level is currently at $3088.95, which may serve as a critical support/resistance level. The 50-period moving average on the daily chart is sloping upward, indicating a longer-term bullish bias.

The backtesting strategy involving buying ETHEURI on the confirmation of a Bullish Engulfing pattern and holding for five days generated a 28.88% return, outperforming the 15.66% return of a buy-and-hold approach. This aligns with the recent 15-minute breakout pattern and the strong post-breakout volume. The combination of strong RSI divergence and MACD momentum supports the effectiveness of such a strategy in capturing short-term upside potential.