Market Overview for Ethereum/Eurite (ETHEURI)

• Ethereum/Eurite traded in a volatile 24-hour range, forming a descending triangle pattern on the 15-minute chart.
• Price dipped to a 24-hour low of 3510.0 before rebounding near the 3550.0 level.
• RSI and MACD indicate waning momentum, with RSI hovering near overbought territory.
• Volume spiked during the late-night sell-off, reaching 12.2236 at one point.
• Bollinger Bands showed moderate volatility with price staying within the channel for most of the period.

Ethereum/Eurite (ETHEURI) opened at 3557.9 on 2025-09-23 at 12:00 ET and closed at 3559.0 at 12:00 ET on 2025-09-24. The pair reached a high of 3583.51 and a low of 3478.01 during the 24-hour period, with total volume of 186.691 and turnover of approximately 648,826.7 EURITE. The price action appears to be consolidating around key psychological levels, with bearish and bullish signals emerging from technical indicators.

Structure & Formations

The 15-minute candlestick pattern for ETHEURI showed a mix of bullish and bearish structures. A notable bearish engulfing pattern formed at 3554.0 (2025-09-23 17:15) followed by a retracement and a possible bearish continuation setup. A key support area emerged between 3510.0 and 3525.0, where price found a floor on multiple occasions. A resistance level at 3550.0–3555.0 also held, with price bouncing off it several times. A doji formed at 3550.0 (2025-09-24 05:00), signaling indecision. The descending triangle pattern formed during the early part of the session, suggesting a potential break lower could follow.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart are in a bearish alignment, with the 50-period MA crossing below the 20-period MA during the early morning session. On the daily chart, the 50-period MA is above the 100-period and 200-period MAs, indicating a possible short-term bearish bias, though the long-term trend remains neutral. The moving average convergence suggests that a directional bias may be forming, with the 20-period MA pulling price lower through the night.

MACD & RSI

The 12-26 MACD histogram is mostly negative during the 24-hour period, with a recent attempt to turn positive after 2025-09-24 09:00. The RSI reached a high of 69.3 near the 24-hour peak of 3583.51 before retreating, suggesting some overbought conditions. However, it remains within normal bounds, showing that momentum is not yet fully exhausted. A divergence between RSI and price appears to be forming at the lower end of the consolidation range, hinting that a break may be imminent.

Bollinger Bands

Bollinger Bands reflected moderate volatility during the session, with the 20-period standard deviation line tightening slightly in the early morning before expanding during the afternoon. Price remained within the upper and lower bands for most of the period, but approached the upper band twice—once at 3583.51 and again at 3576.31—before retreating. A contraction in the bands appears to be forming during the early morning hours, suggesting potential for a breakout or breakdown in the near term.

Volume & Turnover

Volume spiked during the late-night sell-off from 3521.36 to 3510.0, with a 15-minute candle at 02:15 posting 3.9556 in volume. This was followed by a massive 12.2236 volume spike during a 15-minute candle at 04:45, suggesting increased bearish activity. Notional turnover confirmed the price action, with the highest turnover observed during the same 04:45 candle. However, in the final hours of the 24-hour window, volume declined, indicating reduced conviction in either direction.

Fibonacci Retracements

Applying Fibonacci retracement levels to the 24-hour swing from 3583.51 to 3478.01, key levels at 3535.93 (38.2%) and 3510.0 (61.8%) were tested. Price found support at the 3510.0 level multiple times and bounced back toward 3550.0, suggesting these levels are strong psychological barriers. The 61.8% retracement level appears to be acting as a key support, with further bearish movement likely if this level is pierced.

Backtest Hypothesis

Given the descending triangle formation on the 15-minute chart and the divergence in RSI, a potential mean-reversion or breakout strategy could be backtested. A buy strategy might be triggered on a breakout above 3555.0 with a stop-loss below 3535.93, while a sell strategy could be triggered on a breakdown below 3510.0 with a stop above 3525.0. Incorporating volume as a filter—looking for a spike on the breakout candle—could improve the strategy's success rate. Using MACD histogram as a momentum filter may also help in confirming the direction of the move.