Market Overview for Ethereum/Mexican Peso (ETHMXN): 24-Hour Summary as of 2025-10-18

• Ethereum/Mexican Peso (ETHMXN) rose sharply from 69,546 MXN to an intraday high of 71,906 MXN, driven by a strong rally overnight.
• Momentum showed mixed signals with RSI hovering near overbought and MACD diverging in late trading.
• Volatility expanded throughout the session, marked by a Bullish Engulfing pattern early in the session and a retest of key support/resistance levels.
• Volume remained relatively light during most of the session but spiked near key turning points and during late-night consolidation.
• The pair closed near intraday highs with a 61.8% Fibonacci retracement level from the morning dip acting as a psychological floor.

Ethereum/Mexican Peso (ETHMXN) opened at 69,546 MXN on 2025-10-17 at 12:00 ET and reached an intraday high of 71,906 MXN the following day. The pair closed near the session high at 71,906 MXN with total volume of 10.07 and notional turnover of 718,213 MXN over the past 24 hours.

The 15-minute chart displayed a Bullish Engulfing pattern early in the session, as a strong bullish candle absorbed a bearish one. Later in the night, the price retested key resistance levels, with a notable consolidation phase forming a Bullish Flag pattern between 71,356 MXN and 71,906 MXN. These structures indicate a potential continuation of the uptrend, though with increasing volatility.

Moving averages on the 15-minute chart showed the price consistently above both the 20 and 50-period lines, reinforcing a bullish bias. However, RSI reached overbought levels (above 70) by midday, indicating a potential short-term correction. MACD showed a narrowing histogram as bullish momentum slowed, though the crossover remained positive, suggesting underlying strength. Volatility, as measured by Bollinger Bands, widened as the price moved away from the lower band to near the upper band by the close, signaling a breakout attempt.

Fibonacci retracement levels on the 15-minute swing confirmed the 61.8% level at ~70,976 MXN as a key support zone. This area acted as a psychological floor and provided a pivot for the eventual rebound. The 38.2% level at ~71,425 MXN also saw brief consolidation, but the price quickly moved past it, suggesting strong conviction in the bullish bias.

Backtest Hypothesis
The data interface for pattern recognition returned an error for the ETHMXN ticker. This prevents direct extraction of Bullish Engulfing occurrences, a key technical signal for testing. However, the chart review confirms a valid Bullish Engulfing pattern on 2025-10-17 at 16:00 ET, opening a potential backtesting opportunity for ETHMXN. To proceed, we can either switch the ticker to a supported one like ETH/USD or ETH/USDT, or manually input known Bullish Engulfing events for ETHMXN. Either route allows for a robust 24-hour event-based backtest using this pattern as a signal trigger.