Market Overview for Ethereum/Mexican Peso (ETHMXN): 2025-11-07

Generated by AI AgentTradeCipherReviewed byShunan Liu
Friday, Nov 7, 2025 1:41 am ET1min read
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Aime RobotAime Summary

- ETHMXN closed at 61,663 MXN after a range-bound 24-hour session with low volume and minimal directional bias.

- Key support (61,488) and resistance (61,767) showed repeated tests but no decisive breaks, with RSI hovering near neutral 45-55 levels.

- Tight Bollinger Bands and overlapping moving averages confirmed low volatility, while a synthetic ETH-MXN proxy enables backtesting of level effectiveness.

- Fibonacci 61.8% retracement aligned with the closing price, suggesting short-term equilibrium amid balanced bullish/bearish pressure.


• Ethereum/Mexican Peso (ETHMXN) closed slightly lower at 61,663 MXN after a choppy 24-hour session.
• Key support at 61,488 and resistance at 61,767 showed moderate retests with low volume.
• Volatility remained compressed as Bollinger Bands showed little expansion.
• RSI hovered around neutral territory, indicating neither overbought nor oversold conditions.

Ethereum/Mexican Peso (ETHMXN) opened at 61,419 MXN on 2025-11-06 at 12:00 ET and traded between 61,361 and 62,209 MXN over the following 24 hours, closing at 61,663 MXN on 2025-11-07 at 12:00 ET. Total volume traded was 2.06 MXN, with total notional turnover amounting to 126,804.7 MXN. The pair displayed a range-bound profile with limited directional bias.

The 15-minute OHLCV data reveals a lack of conviction. A key support level at 61,488 MXN was tested multiple times without strong rejection or a clear breakdown, while resistance at 61,767 MXN was approached but not decisively broken. The most notable candle was a bullish engulfing pattern at 2025-1106 190000, indicating potential buyer interest, though follow-through failed to materialize. A bearish rejection occurred at 2025-1106 204500, with a sharp decline from 61,966 to 61,488 MXN on a single candlestick, suggesting short-term bearish pressure.

Bollinger Bands remained relatively tight, indicating low volatility. The 20-period and 50-period moving averages were close together, reinforcing the lack of clear momentum. MACD showed a flat histogram with no divergence, and RSI fluctuated between 45 and 55, suggesting a balance between bulls and bears. The lack of overbought or oversold conditions implies that the market is in a consolidation phase.

Fibonacci retracement levels were applied to the recent 15-minute swing from 61,488 to 62,209 MXN, with the 61.8% level near 61,663 MXN, which coincided with the closing price. This alignment could suggest a short-term equilibrium point for the pair.

Backtest Hypothesis

Given the challenges in obtaining direct ETH-MXN data, a synthetic ETH-MXN price series can be constructed using ETH-USD and USD-MXN exchange rates. This proxy method allows for historical testing of support (61,488) and resistance (61,767) levels in the ETH-MXN cross. Such an approach is essential to confirm the behavior of these levels during previous price touches and breakouts. If these levels historically acted as meaningful psychological and technical barriers, a rules-based strategy—such as entering long on a breakout above 61,767 or short on a breakdown below 61,488—could be backtested with high confidence. This would also help assess the likelihood of similar behavior recurring under today’s market conditions.