Market Overview for Euler/USDC (EULUSDC) – 24-Hour Candlestick Analysis

Summary
• Price drifted lower through the day, closing below the morning high.
• Momentum softened with RSI near midline and MACD flattening.
• Volatility increased mid-day, with sharp price swings and volume surges.

The Euler/USDC (EULUSDC) pair opened at $5.683 on 2025-11-12 at 12:00 ET, hit a high of $5.691 and a low of $5.466, closing at $5.484 as of 2025-11-13 at 12:00 ET. Total volume over 24 hours was 32,568.16, with a turnover of approximately $183,845. The pair exhibited a generally bearish bias, with a distinct breakdown from a morning consolidation pattern and a deepening of bearish momentum late afternoon.

Structure & Formations

Price formed a small bearish engulfing pattern during the 19:30–20:00 ET session, signaling a key bearish reversal. A potential support level emerged around $5.560–5.570, as the price bounced twice from this area. A key resistance was seen near $5.650–5.660, where the price failed to hold on multiple occasions.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are trending downward, with price currently below both. On the daily chart, the 50/100/200 EMA lines are also bearish, suggesting a broader bearish bias. The 50 EMA is crossing below the 100 EMA, a bearish signal known as a death cross.

MACD & RSI

The MACD line has flattened, indicating a weakening of momentum. The histogram is shrinking and the signal line is approaching the zero line from above. The RSI has moved from overbought levels in the morning to mid-range levels by the close, indicating a possible loss of bullish conviction. RSI now rests around the 50 level, suggesting equilibrium between buyers and sellers.

Bollinger Bands

Bollinger Bands have widened during the late afternoon and evening sessions, indicating an increase in volatility. Price action has remained within the bands but has approached the lower band in the late hours, suggesting potential support at the lower end of the range. A test of the lower band could confirm or challenge the current bearish bias.

Volume & Turnover

Volume spiked dramatically during the 19:30–20:00 ET session, with a turnover of nearly $40,000. This suggests increased selling pressure at a critical support level. A divergence between price and volume in the early evening indicated a potential bearish exhaustion. However, late-day volume confirmed the breakdown, validating the bearish move.

Fibonacci Retracements

Key Fibonacci retracement levels from the morning high of $5.691 to the low of $5.466 include 38.2% at $5.585 and 61.8% at $5.555. The price found support at the 61.8% level, bouncing off it in the evening. This suggests that buyers are beginning to step in at these levels, but the 38.2% level remains untested as of the close.

Backtest Hypothesis

The data vendor was unable to find the symbol EULUSDC, suggesting either an incorrect ticker or an instrument not yet supported in the database. For any backtesting strategy to be applied, the correct symbol and exchange must be confirmed. Common alternatives include EUL-USDC or EUL-USDT, depending on the exchange. Once the symbol is verified, strategies such as breakout trading from key Fibonacci levels, RSI divergences, or volume confirmation of breakouts can be applied. For example, a strategy could enter short positions on a close below the 61.8% Fibonacci level with a stop above the 50-period SMA and take profit at the next support.