Market Overview for Ethereum/Zloty (ETHPLN) on 2025-10-05

• Ethereum/Zloty (ETHPLN) rose from 16,000 to 16,528 before consolidating, with 3 key support and resistance levels identified.
• Volume surged at 16,350, confirming price action but diverged later at 16,200.
• RSI reached overbought territory twice and returned to neutral, indicating mixed momentum.
• Bollinger Bands showed expansion during the morning rally and contraction during late consolidation.
• Fibonacci levels at 16,428 and 16,358 appeared to act as dynamic support/resistance for short-term traders.

Ethereum/Zloty (ETHPLN) opened at 16,000 on October 4 at 12:00 ET and surged to a high of 16,528 before consolidating to a close of 16,359 at 12:00 ET on October 5. Total volume over the 24-hour window was 21.299, and turnover reached 347,698.5 PLN. Price action suggests a bullish bias amid moderate volatility and divergent volume signals.

Structure & Formations

The 15-minute chart showed a strong bullish reversal at 16,300 after a bearish engulfing pattern at 16,428 failed to hold. A morning rally from 16,169 to 16,528 formed a broad ascending triangle with 16,358 as the key horizontal support. A doji at 16,350 and a hanging man at 16,428 signaled indecision, while a large bullish candle (16,338–16,444) on October 5 marked the most decisive move of the session.

Moving Averages

On the 15-minute chart, the 20-period SMA acted as dynamic support, tracking price closely during the morning and midday rally. The 50-period SMA crossed above the 20-period line, suggesting a bullish crossover. On the daily chart, the 50-period SMA was above the 100-period line, but the 200-period SMA acted as a key resistance level near 16,200, which price failed to breach decisively.

MACD & RSI

The MACD line turned positive at 09:45 ET and remained bullish for the remainder of the session, though histogram momentum waned in the late afternoon. RSI reached 78 near 16,528 and later retreated to the 60–65 range, indicating moderate bullish momentum with no overbought conditions persisting. A bearish divergence emerged at 16,358, suggesting caution for further short-term gains.

Bollinger Bands

Volatility expanded during the morning rally from 16,169 to 16,528, with the upper band acting as a temporary ceiling. A contraction occurred from 16,350 to 16,300, signaling potential consolidation. Price stayed within the Bollinger Bands for most of the session but briefly touched the upper band twice, reinforcing the overbought RSI readings.

Volume & Turnover

Volume spiked at 16,350 (2.4735) and again at 16,528 (1.5824), confirming the upward moves. However, volume dropped below 0.1 at 16,300 and 16,200, suggesting a lack of conviction in the pullback. Turnover mirrored volume patterns, with the highest turnover occurring during the 16,338–16,444 candle and dropping off during consolidation.

Fibonacci Retracements

Applying the 38.2% and 61.8% retracement levels to the 16,169–16,528 move highlighted 16,358 (61.8%) as a strong support and 16,428 (38.2%) as resistance. These levels coincided with key candlestick patterns and Bollinger Band interactions, reinforcing their relevance for near-term positioning.

Backtest Hypothesis

Given the convergence of bullish reversal patterns, Fibonacci support, and confirmed volume at key levels, a backtest strategy could be designed to enter long positions at 16,358 with a stop just below 16,300 and a target near 16,428–16,450. This approach aligns with the MACD and RSI signals, which suggested strong but not overextended momentum. Repeating this on daily swings with a 1–2% trailing stop may offer a favorable risk-reward profile, especially if 16,200 (200-day SMA) continues to act as a solid baseline.