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

• ETHEURI opened at 3818.5 and dropped to 3533.61 before rebounding to close at 3554.23 at 12:00 ET.
• Price action showed a sharp 9.6% decline over the first 8 hours, followed by a consolidation phase.
• Volatility expanded during the sell-off, with 3-hour candles showing large ranges and bearish bias.
• RSI reached oversold territory, suggesting potential short-term bounce, but volume diverged during the rebound.
• Bollinger Bands widened as price approached key Fibonacci levels, indicating possible reversal points.

The Ethereum/Eurite pair (ETHEURI) opened at 3818.5 on 2025-09-21 at 12:00 ET and closed at 3554.23 the following day at the same time. Over the 24-hour window, the price ranged between 3832.96 and 3492.4, reflecting a 9.6% drawdown. Trading volume amounted to 200.249 and total turnover was approximately 723,772.4 (assuming EURI as base unit). The early bearish trend was followed by a partial recovery in the latter half of the day, though volume during the rebound was weak, casting doubt on the strength of the recovery.

Structure & Formations

Key support levels emerged around 3550.0 and 3533.61, where price found a temporary floor after a sharp drop. Notable bearish formations included a bearish engulfing pattern at 3605.22 and a potential three-black-crows pattern between 3545.18 and 3528.64. A bullish inside bar formed around 3554.23, suggesting a short-term bounce may be in play. A doji at 3550.56 also hinted at indecision among buyers. Resistance at 3565.0 and 3572.62 is now critical for near-term direction.

Moving Averages

On the 15-minute chart, the 20-period MA (3561.2) and 50-period MA (3557.8) both dipped below the 24-hour close, suggesting the price remains below short-term trend. On the daily chart, the 50-period MA (3538.2) is slightly above the 200-period MA (3497.6), indicating a potential long-term base forming around 3530–3550. The 100-period MA (3525.4) reinforces this as a possible support zone.

MACD & RSI

The MACD crossed into negative territory early in the 24-hour window and remained bearish, with the histogram showing declining bear momentum in the latter half. The RSI hit 30 during the early morning lows and rose to 45 by the close, indicating an oversold bounce but not a strong reversal signal. Divergence between price and RSI during the rebound suggests caution.

Bollinger Bands

Bollinger Bands widened significantly during the early sell-off, reflecting increased volatility. Price closed near the lower band, which aligns with the 38.2% Fibonacci level of the main downswing. A reversal at this level could see a retest of the midline (~3570.0) and the upper band (~3590.0) in the next 24 hours.

Volume & Turnover

Volume surged during the initial drop (10.0255 at 3533.61) but waned during the rebound, suggesting the recovery lacks conviction. Turnover was highest during the 06:00–08:00 ET window when the price dropped to 3533.61. Weak volume on the rebound candles from 09:00–12:00 ET raises concerns about the sustainability of the bounce.

Fibonacci Retracements

On the 15-minute chart, price closed near the 38.2% Fibonacci retracement of the primary 3832.96–3492.4 swing at 3554.23. A bounce from this level could see a retest of the 50% level (~3565.0) and potentially the 61.8% (~3580.8). On the daily chart, the 61.8% level (~3585.0) is a key psychological barrier for near-term bullish sentiment.

Backtest Hypothesis

A potential backtest strategy could involve entering long positions when the price closes above the 38.2% Fibonacci level (3554.23) with a stop-loss placed below the 3533.61 low. A take-profit could be set at the 50% level (3565.0) and extended to the 61.8% level (3580.8), assuming RSI confirms a move out of oversold conditions and volume increases on the breakout. This approach leverages both trend and mean-reversion signals from the Fibonacci and RSI tools to capture short-term bounces in a volatile market.