Market Overview for Ethereum/Zloty (ETHPLN): 24-Hour Insight

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• ETHPLN posted a 0.04% decline over 24 hours, with price closing at 16018.0 after hitting a high of 16305.0 and a low of 15998.0.
• Momentum remained mixed, with RSI hovering near neutral and MACD showing no strong divergence.
• Volatility expanded during the overnight hours, but volume failed to confirm significant directional intent.
• Bollinger Bands widened, suggesting increased price dispersion and a higher likelihood of trend or breakout formation.
• Key support and resistance levels emerged around 16185 and 16268, with several reversal and continuation candle patterns observed.

Ethereum/Zloty (ETHPLN) opened at 16204.0 on 2025-09-15 at 12:00 ET, reached a high of 16305.0, a low of 15998.0, and closed at 16018.0 on 2025-09-16 at 12:00 ET. Total traded volume amounted to 14.1084, with notional turnover across the 24-hour period totaling ~230,000,000 PLN.

Structure & Formations

ETHPLN displayed mixed price action over the 24-hour window. A key support level emerged around 16185, which held during multiple intraday tests. Above, 16268 acted as a significant resistance zone, particularly during overnight trading. A large bearish engulfing pattern appeared on the 15-minute chart around 07:30–07:45 ET, signaling potential bearish continuation. Conversely, a bullish morning reversal was observed near 06:15–06:30 ET, indicating short-term optimism. A doji around 02:45–03:00 ET suggested indecision, aligning with a volatility contraction in the Bollinger Bands.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages trended downward, confirming a bearish bias in the short-term. The 20-period MA remained slightly above the 50-period line, suggesting potential for a continuation if momentum remains. On the daily chart, the 50-period MA crossed above the 100-period MA earlier in the week, which might imply a longer-term bullish bias but has yet to gain traction in recent sessions.

MACD & RSI

The MACD remained in bearish territory but showed a slight convergence with price as the 24-hour window closed. The RSI hovered near 50, indicating a balanced market with neither overbought nor oversold conditions. However, a bearish divergence was observed near the 16305.0 high, signaling a potential for further pullback. The RSI's inability to close above 55 suggests caution in expecting a strong bullish breakout.

Bollinger Bands

The Bollinger Bands saw a moderate expansion during the overnight hours, particularly after the 16268.0 resistance failed. Price spent a significant portion of the session outside the upper band, indicating heightened volatility. The bands subsequently narrowed during the morning hours, suggesting a potential consolidation phase. However, the price remained above the 20-period moving average within the bands, which could point to a continuation of the broader bullish trend if the bands begin to widen again.

Volume & Turnover

Volume and turnover showed notable divergence around the 19:45–20:00 ET session, when a large volume of 1.3297 ETH traded but resulted in a bearish close, indicating potential selling pressure. A smaller, but more bullish volume spike occurred at 06:30–06:45 ET, which coincided with a price rise to 16312.0. Turnover increased significantly during the late-night to early-morning hours but failed to confirm a strong directional bias. A bearish volume spike occurred at 22:00–22:15 ET, when price fell from 16273.0 to 16205.0.

Fibonacci Retracements

Fibonacci retracement levels applied to the recent 15-minute high (16312.0) and low (16160.0) identified key levels of 16205.0 (38.2%) and 16185.0 (61.8%) as critical support zones. Price action showed strong adherence to these levels, with a clear test of the 61.8% level around 04:30–05:00 ET. On the daily chart, retracement levels from the broader high (16305.0) and low (16135.0) suggest key resistance at 16235.0 and support at 16200.0, both of which were tested and partially held during the session.

Backtest Hypothesis

Applying a backtest strategy based on the identified Fibonacci levels and volume divergence around 19:45–20:00 ET, a potential short entry could have been triggered just below 16205.0 with a stop above the 16245.0 resistance. The bearish engulfing pattern and bearish divergence in RSI would have aligned with a sell-biased setup. While this specific trade would have captured a portion of the subsequent decline, it would have required tight risk management and a clear exit at or near the 16185.0 level. Given the current setup, similar strategies could be considered for the upcoming 24 hours, particularly if the 16185.0 level holds and the 16268.0 resistance remains intact.