Market Overview: Ethereum/Eurite (ETHEURI) - 24-Hour Technical Review

Summary
• Price dropped from 2546.4 to 2454.39, forming bearish engulfing and shooting star patterns.
• RSI entered oversold territory, while volume spiked at the low, suggesting potential short-term bottoming.
• Volatility expanded in the late session, with price breaking above Bollinger Band midline, hinting at a recovery attempt.
• 20-period MA provided a temporary support level, but failed to hold during the sharp sell-off.
• Fibonacci retracement levels at 2505.61 and 2525.29 are key re-entry and retest levels for near-term traders.

Market Overview

Ethereum/Eurite (ETHEURI) opened at $2541.31 on 2025-12-15 at 12:00 ET and closed at $2454.39 on 2025-12-16 at 12:00 ET, with a high of $2546.4 and a low of $2454.39. Total volume over the 24-hour window was 25.9483, and notional turnover was 65,340.84 (assuming notional value).

Price action showed a strong bearish bias, with a sharp drop after 17:00 ET. A key bearish engulfing pattern formed at the top, followed by a deep sell-off through the night. Volatility expanded sharply, especially after 20:00 ET, as the price fell below the 20-period moving average. The RSI dropped into oversold territory in the early morning hours, suggesting a potential reversal may be near.

Structure & Formations

A bearish engulfing pattern formed at the session high, confirming a shift in sentiment. A shooting star near the high of $2546.4 and a morning star near the 2454.39 low signaled possible turning points. A strong bearish breakdown occurred after the price broke below the 20-period MA.

Moving Averages

The 20-period moving average on the 5-minute chart initially held as support but failed during the sharp sell-off. The 50-period MA provided limited support but was not tested until the final hours. On a longer time frame, the price moved below both the 50 and 200-period MAs, reinforcing a bearish bias.

MACD & RSI

The MACD line dropped sharply in the late hours of the session, confirming the bearish momentum. RSI reached oversold levels in the early morning, suggesting a potential bounce. However, a bearish divergence was observed in the final hours of the session.

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Bollinger Bands

Volatility expanded significantly as the price moved below the lower Bollinger Band. The price briefly tested the midline in the early morning, indicating a possible rebound.

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Volume & Turnover

Volume surged during the sharp sell-off, especially between 19:00 and 20:45 ET, suggesting increased selling pressure. Notional turnover spiked during the same period, confirming the strength of the move. A divergence in volume and price was observed as the price bounced toward the end of the session.

Fibonacci Retracements

Key retracement levels include 2505.61 (38.2%) and 2525.29 (61.8%) as potential retest areas for long-term traders.

In the next 24 hours, a test of the 2505.61 level may indicate a short-term bounce, but caution is advised as the broader trend remains bearish. Traders should monitor volume and RSI for confirmation of a reversal.