Market Overview for Ethereum/Eurite (ETHEURI): 24-Hour Analysis

• ETHEURI opened at $3570.88 and closed near $3406.55, down ~4.3% over 24 hours, with a high of $3587.65 and a low of $3351.77.
• Volume remained subdued, with 49.49k units traded, but turnover dropped sharply after the midday dip.
• A strong bearish engulfing pattern formed at the 2025-09-24 22:00–22:15 ET session, signaling potential continuation of the downtrend.
• RSI hit oversold territory near 25, but price failed to rebound, suggesting bearish momentum could persist.
• Bollinger Bands showed a wide expansion during the early morning drop, highlighting heightened volatility and potential for a bounce.

Ethereum/Eurite (ETHEURI) opened at $3570.88 on 2025-09-24 and closed at $3406.55 on 2025-09-25. The price reached a high of $3587.65 and a low of $3351.77 during the 24-hour period. Total volume traded was 49.49k units, with a notional turnover reflecting the sharp midday drop. The pair has been in a sustained bearish phase driven by a key engulfing pattern and oversold RSI levels.

Structure & Formations

Price formed a bearish engulfing pattern on 2025-09-24 22:00–22:15 ET, with a large downward gap and high volume confirming bearish sentiment. A doji appeared near $3406.55 on 2025-09-25 11:45–12:00 ET, suggesting indecision and potential consolidation. Key support levels are forming at $3370–3350, while resistance is now near $3435–3450. A breakdown below $3350 could trigger a retest of the $3300 psychological level.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are both in a bearish crossover configuration, reinforcing the downward bias. The 50-period moving average has dropped below both the 100 and 200-period lines on the daily chart, indicating a medium-term bearish trend. A closing above the 20-period moving average may be required to signal a potential reversal, but it appears unlikely in the near term.

MACD & RSI

The MACD line has crossed below the signal line and remains in negative territory, confirming bearish momentum. The RSI has dropped to 24, entering oversold territory, but no strong rebound has followed—indicating that bearish pressure may continue. Divergence between RSI and price is not significant, suggesting the move lower is likely to persist for at least another session.

Bollinger Bands

Bollinger Bands expanded significantly during the midday selloff, with the close near the lower band. Volatility has since compressed, and the price is now trading near the 20-period moving average. A retest of the upper band would require a rebound above $3450, but the current configuration suggests further consolidation near the lower band is more probable.

Volume & Turnover

Volume spiked during the early morning sell-off, particularly in the 22:00–00:30 ET window, confirming the bearish move. Turnover has remained muted since midday, suggesting that retail and weak institutional participation are limiting a potential rebound. No significant divergence between price and volume has emerged, which supports the continuation of the bearish trend.

Fibonacci Retracements

Applying Fibonacci levels to the recent 15-minute swing from $3587.65 to $3351.77, the 38.2% retracement is at $3473.80 and the 61.8% at $3409.50—both aligning with current consolidation. On the daily chart, retracement levels for the larger swing suggest potential support at $3300 and resistance at $3500. The 61.8% level seems to act as a key threshold for short-term bounce attempts.

Backtest Hypothesis

The described backtesting strategy involves a long-biased entry on a 15-minute chart when the price closes above the 50-period moving average and RSI exits oversold territory. While ETHEURI currently meets the RSI criterion, the 50-period moving average is not providing a bullish bias. A short-biased variant—triggered on a bearish engulfing pattern and RSI in overbought conditions—could be more effective here. Historical data suggests such patterns often lead to continuation, not reversal, in highly volatile assets like ETHEURI. Given the current setup, a backtest using the short-biased variant may yield better results.