Market Overview: Ethereum/Mexican Peso (ETHMXN) – 24-Hour Summary and Analysis

• ETHMXN opened at 79872 and closed at 80722, climbing 0.87% after a sharp 1245–1300 ET surge to 81500.
• Momentum surged with a 14:00–14:15 ET candle printing 82641–82669, reaching a 24-hour high.
• Volatility expanded significantly between 12:45–14:30 ET, with volume spiking 0.7835 ETH in that window.
• RSI hit overbought territory >70 in the 14:00–14:45 window, suggesting a potential near-term correction.

Ethereum/Mexican Peso (ETHMXN) opened at 79872 on September 9, 2025, at 12:00 ET, reaching a high of 82669 before closing at 80722 on September 10, 2025, at 12:00 ET. Total volume for the period was 5.1522 ETH, with a notional turnover of approximately 409,416,840 MXN (calculated using average price).

Structure & Formations

The 24-hour candlestick pattern revealed a bullish continuation with a strong reversal from a short-term dip around 80026, followed by a powerful bullish engulfing pattern between 1930–2000 ET, which propelled price to 80155. Later, a key reversal high emerged at 80337–80398, and a larger bullish engulfing pattern occurred at 0215–0230 ET, pushing the price toward 80528. The most recent swing high of 82669 acted as a potential resistance level and could see a pullback or consolidation.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages showed a bullish crossover near 80125–80155, reinforcing the upward bias. The price continued to trade above both, indicating short-term momentum. On the daily chart, the 50-period moving average is currently around 79872, while the 200-period is at 79822, suggesting that the 24-hour rally may have moved ETHMXN into a short-term bullish phase.

MACD & RSI

MACD turned positive and showed a bullish divergence with price, especially after 14:00 ET. The histogram expanded significantly during the 14:00–14:30 ET window, reflecting a strong upward impulse. RSI peaked at over 70 during this period, entering overbought territory and hinting at possible profit-taking or a short-term pullback. However, the strong volume accompanying the rise suggests the upward trend may remain intact for now.

Bollinger Bands

Volatility expanded significantly during the 12:45–14:30 ET window, with the upper band stretching above 82669. Price remained near the upper band during that time, indicating a strong bullish move. The Bollinger Band contraction earlier in the session (around 1900–2000 ET) hinted at a potential breakout, which materialized at 1930 ET. The current price action remains within the upper half of the bands, maintaining the bullish bias.

Volume & Turnover

Volume spiked sharply during the 12:45–14:30 ET window, reaching a peak of 0.7835 ETH traded, aligning with the price spike to 82669. The notional turnover also saw a proportional increase during this period, confirming the strength of the move. However, a divergence appeared between 15:15–15:30 ET, where price declined to 82159 with relatively low volume, suggesting weak follow-through in the rally.

Fibonacci Retracements

On the 15-minute chart, the most recent swing low at 79867 and swing high at 82669 provide key Fibonacci levels for potential pullbacks or continuation. The 61.8% retracement level is at approximately 81400, and the 38.2% retracement is at 81900. If the price consolidates near 81400–81900, it could find support and continue upward, or consolidate for a retest of the 80528–80722 range.

Backtest Hypothesis

A potential backtesting strategy could involve entering long positions during bullish engulfing patterns that form above key moving average crossovers, particularly when accompanied by strong volume surges. A stop-loss could be placed just below the previous swing low, with a target at the next Fibonacci retracement level. This approach would capitalize on the momentum seen between 1930–2000 ET and again at 0215–0230 ET. The RSI overbought condition during the 14:00–14:15 ET window also suggests a short-term profit-taking opportunity, adding a potential short entry for those seeking mean reversion.