Market Overview: Ethereum/Mexican Peso (ETHMXN)

Summary
• ETHMXN climbed from 57372 to 58663, forming bullish patterns like a bullish engulfing.
• RSI shows moderate momentum with no overbought or oversold signals.
• Volatility remained low but with occasional spikes, reflecting mixed trading pressure.
• Price traded within a 57372–59161 range, with 58663 as a key resistance level.
• Volume was minimal, indicating cautious participation across much of the session.

Ethereum/Mexican Peso (ETHMXN) opened at 57372 on 2025-12-11 12:00 ET and reached a high of 59161 before closing at 58663 on 2025-12-12 12:00 ET. The 24-hour volume was approximately 4.7028 ETH, with a notional turnover of around 271,407 MXN.

Structure & Formations

Price moved in a tight range for most of the session before breaking out with a sharp 59161 high. A bullish engulfing pattern emerged at 18:45 ET, followed by a bearish correction into 58663. The 58663 level appears to be consolidating as a short-term resistance, while 57372 and 58477 are key support levels.

Moving Averages and Momentum

Short-term 5-minute MAs did not show strong directionality, with price hovering slightly above 20-period averages. RSI remained between 40 and 60, indicating balanced momentum. MACD was near zero, with no clear divergence.

Volatility and Bollinger Bands

Volatility was muted, with price staying within a narrow Bollinger Band range for much of the session. A brief expansion occurred around 21:45 ET as price surged to 59161. Price closed at the upper Bollinger Band on the 5-minute chart, suggesting potential for a pullback.

Volume and Turnover

Trading volume remained low throughout, with spikes only during key price moves, especially at 18:45 ET and 21:45 ET. Notional turnover increased moderately, aligning with price action. No significant divergence was observed.

Fibonacci Retracements

On the 5-minute chart, the 58663 close aligns with the 61.8% Fibonacci retracement level of the prior swing from 57372 to 59161, suggesting a potential consolidation point.

ETHMXN appears to be in a phase of cautious bullish momentum, with price finding support around 57372 and resistance at 58663. A break above 59161 could signal renewed upside, while a drop below 57372 could invite short-term bearish pressure. Investors should monitor volume and key retracement levels for signs of direction.