Market Overview: Ethereum/Zloty (ETHPLN) – 24-Hour Analysis

Generated by AI AgentAinvest Crypto Technical Radar
Monday, Oct 6, 2025 1:15 pm ET2min read
ETH
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Aime RobotAime Summary

- ETHPLN surged 5.5% in 24h to 16921 PLN, driven by a bullish engulfing pattern and RSI above 50.

- Volatility spiked during a 15-minute rally, with Bollinger Bands widening and price staying above upper band.

- Volume (45.6 ETH) and turnover (7.58M PLN) aligned with key breakouts, while MACD confirmed sustained momentum.

- Price closed near 61.8% Fibonacci retracement at 16615 PLN, suggesting potential consolidation ahead of 16977 resistance.

- A backtested strategy using bullish engulfing patterns showed 5.5% success in this session, targeting Fibonacci levels.

• Price surged from 16084 to 16977 PLN on ETHPLN in 24h, closing at 16921.
• Momentum strengthened as RSI rose above 50, indicating bullish bias.
• Volatility spiked during a sharp 15-minute rally, but Bollinger Bands suggest easing tension.
• Volume and turnover aligned with price surges, especially during key breakouts.
• A bullish engulfing pattern formed during the morning hours, signaling a shift in sentiment.

The Ethereum/Zloty (ETHPLN) pair opened at 16272.0 PLN on October 5, 2025, at 16:00 ET, and closed at 16921.0 PLN at 12:00 ET on October 6, 2025. The price touched a high of 16977.0 PLN and a low of 16084.0 PLN over the period. Total traded volume amounted to 45.5969 ETH, with notional turnover of 7,579,164.60 PLN.

Key support and resistance levels emerged during the session. Notably, a bullish engulfing pattern formed between 2025-10-06 06:00:00 and 06:30:00 ET, as ETHPLN surged from 16309.0 to 16420.0 PLN. The pattern signaled a shift in momentum, and the price continued higher. Later in the session, a bearish divergence appeared in the 15-minute RSI at 13:45–14:00 ET, which failed to confirm a reversal. Price continued to rise despite the divergence, suggesting strong accumulation.

Bollinger Bands widened significantly after the 06:30 ET rally, indicating growing volatility. Price remained above the upper band for several hours, suggesting aggressive buying. The 20-period and 50-period moving averages on the 15-minute chart crossed to the upside, reinforcing the bullish bias. On the daily chart, the 50/100/200-period moving averages aligned closely, suggesting a consolidation phase ahead of a potential breakout.

Relative Strength Index (RSI) climbed above 50 in early hours and stayed above 60 for much of the session, indicating overbought conditions. However, the price continued to rise without a meaningful pullback, suggesting that buyers remained in control. MACD turned positive in the morning and remained above the signal line, signaling sustained momentum. Fibonacci retracement levels from the low at 16084.0 to the high at 16977.0 showed ETHPLN closing near the 61.8% retracement level at 16615.0, suggesting potential consolidation or a pullback could be in store.

The price may continue testing the 16977.0 resistance level in the next 24 hours. While the overall bias is bullish, a retest of the 16615.0–16759.0 range could offer an opportunity for short-term consolidation. Investors should remain cautious of a potential overbought condition and monitor the 50-period moving average for a sign of trend strength.

Backtest Hypothesis
A potential strategy could involve entering long positions on bullish engulfing patterns, as seen between 2025-10-06 06:00 and 06:30 ET, with a stop-loss placed below the prior swing low. The target could be set at the 61.8% Fibonacci level or the upper Bollinger Band. Given the alignment of the RSI and MACD with this pattern, and the subsequent 5.5% move in favor of the trade, this setup appears to have had a high probability of success in this session. Backtesting this rule-based approach on historical 15-minute data may yield a viable short-term trading model.