Market Overview for Eurite/Tether (EURIUSDT): 2025-09-19

• EURIUSDT fell 0.47% over the last 24 hours, closing near a key support level of 1.173.
• Price action showed consolidation in late hours with a bearish breakout attempt after 05:00 ET.
• RSI hit oversold conditions near 29, but price failed to rebound, suggesting bearish momentum.
• Volatility increased post 05:00 ET, with turnover surging amid a sharp decline.
• Bollinger Bands contracted in the early morning before expanding as price dropped.

Eurite/Tether (EURIUSDT) opened at 1.1778 on 2025-09-18 12:00 ET, reached a high of 1.1793, and a low of 1.1729 before closing at 1.1732 at 2025-09-19 12:00 ET. The 24-hour trading volume totaled 148228.4 units, with a notional turnover of $174,900 (approx., based on mid-price of ~$1.1735).

Price action over the 24-hour period displayed a broad consolidation pattern followed by a sharp bearish breakout in the early morning hours. The key support level at 1.173 was briefly tested twice and held firm in the final candle, though price failed to close above it. A 15-minute bearish engulfing pattern formed around 05:15 ET as price dropped below the previous candle’s body, signaling increased bearish momentum. A doji formed near 1.1732 at 06:00 ET, suggesting indecision and potential near-term reversal.

Structure & Formations

The 15-minute chart revealed several key levels during the session. A strong bearish bias emerged as price fell below the 1.175 support level, which previously acted as a minor resistance. A critical level of 1.173 was retested twice with a final close near that level. No strong bullish patterns emerged, while bearish continuation patterns such as the engulfing and a hanging man at 1.1756 were observed, reinforcing the downward pressure. The 1.1766–1.1776 range acted as a consolidation zone for most of the session before the late-night breakout.

Moving Averages

On the 15-minute chart, price closed below the 20 and 50-period MAs in the final hours, indicating bearish bias. The 50-period MA crossed below the 20-period MA in a death cross formation around 05:30 ET. On the daily chart, the 50-period MA sits above the 200-period MA, but the recent close below the 50-period MA signals weakening momentum.

MACD & RSI

The MACD line turned negative in the final hours, confirming the bearish trend. The histogram showed a sharp contraction as bearish momentum accelerated after 05:00 ET. The RSI dropped to 29, entering oversold territory, but no significant rebound followed. This divergence between RSI and price suggests continued bearish pressure and limited near-term upside.

Bollinger Bands

Volatility remained compressed for most of the session, with price fluctuating within a narrow band between 1.1765 and 1.1785. A sharp expansion occurred after 05:00 ET as price broke lower, widening the bands and confirming increased volatility. Price closed near the lower band at 1.173, suggesting exhaustion of the bearish move unless it breaks below 1.1725.

Volume & Turnover

Volume remained relatively low until 05:00 ET, when a sudden spike occurred as price broke the 1.175 support level. Notional turnover spiked alongside the volume surge, confirming the bearish breakout. A divergence between the strong volume and the lack of a price rebound after 06:00 ET suggests market participants are taking profits or hedging long positions.

Fibonacci Retracements

Key Fibonacci levels from the 1.1729 low to the 1.1793 high include 38.2% at 1.1759 and 61.8% at 1.1783. Price spent most of the session between these levels before breaking below 1.173. The 1.1725 level is the next Fibonacci extension target for further bearish movement.

Backtest Hypothesis

Given the bearish break below the 1.175 support and the confirmation via the engulfing pattern and strong volume, a backtest strategy could target short positions with a stop above the 1.175 level and a target at the next Fibonacci extension of 1.1725. This approach would leverage the convergence of price action, volume confirmation, and Fibonacci levels to manage risk and reward in a structured manner.