Market Overview: Ethereum/Zloty (ETHPLN) – 24-Hour Summary (2025-09-24)

• ETHPLN traded in a 24-hour range of 14,800.0–15,287.0, with late-day strength pushing toward resistance.
• Price formed a bullish recovery from 14,990.0 but faces key resistance near 15,100.0 and 15,200.0.
• High-volume divergence at 15,100.0 and 15,200.0 suggests potential for trend reversal or consolidation.
• Volatility spiked in the early morning and late afternoon, with Bollinger Bands expanding as breakout conditions emerged.

On 2025-09-24 at 12:00 ET, ETHPLN opened at 15,145.0, peaked at 15,287.0, and closed at 15,192.0 after hitting a low of 14,800.0. The total volume traded was 46.9902 ETH, with a turnover of approximately 713,999.00 PLN (volume × average price). Price action showed a dynamic interplay of bearish and bullish momentum, with late-day strength breaking out of a prior consolidation range.

Structure & Formations

The 24-hour chart displayed a key bullish reversal at 14,990.0, followed by a strong rebound toward 15,100.0 and 15,200.0. A notable bearish engulfing pattern was observed early in the session before the price recovered. A doji at 15,164.0 indicated indecision, while a strong bullish engulfing pattern formed near 15,175.0 and 15,198.0, suggesting renewed buyer control. Key support levels were identified at 14,990.0, 15,062.0, and 15,100.0, while resistance was seen at 15,134.0, 15,176.0, and 15,200.0.

Moving Averages

Short-term momentum on the 15-minute chart was bullish, with price above both the 20 and 50 SMA. On the daily chart, while the 50-day MA was supportive, the 200-day MA remained a key hurdle for sustained upward movement. The 100-day MA provided some resistance in the upper end of the 24-hour range, indicating a potential tug-of-war between bulls and bears as the price approached 15,200.0.

MACD & RSI

The MACD crossed above the signal line in the late afternoon and evening hours, confirming renewed bullish momentum. The RSI moved above 50 and reached 58, indicating a moderate overbought condition rather than extreme. Divergences were observed between price and RSI at key support levels, which may signal a potential reversal or consolidation.

Bollinger Bands

Bollinger Bands expanded in the early morning and late afternoon, reflecting increased volatility and potential breakout conditions. Price remained near the upper band in the final hours, suggesting continued bullish pressure. A contraction period occurred before the late-day breakout, which often precedes strong directional moves.

Volume & Turnover

Volume surged during the late-day breakout to 15,200.0, confirming the move. A divergence was observed between volume and price during the 15,100.0–15,176.0 range, where volume was relatively light despite continued price advances. This could suggest accumulation by strategic buyers. Notional turnover was highest in the 14,990.0–15,100.0 and 15,176.0–15,200.0 ranges, indicating key areas of interest.

Fibonacci Retracements

Fibonacci retracements from the 14,800.0–15,287.0 swing identified key levels at 38.2% (~15,062.0) and 61.8% (~15,176.0). Price held above both of these levels during the late-day advance, suggesting strong conviction from buyers. The 61.8% level appears to have acted as a pivot, with momentum increasing after its retest.

Backtest Hypothesis

The recent price action aligns with a backtesting strategy centered on 61.8% Fibonacci retracement levels and bullish engulfing patterns as buy signals. A trade initiated near 15,176.0 during the late-day move toward 15,200.0 could have capitalized on the breakout, with a stop-loss placed below 15,100.0 and a target near 15,287.0. This strategy would benefit from volume confirmation and divergence checks on RSI to filter out false signals and improve risk-adjusted returns.