Market Overview for Eurite/Tether (EURIUSDT) on 2025-10-08

• EURIUSDT fell from 1.1680 to 1.1619 over 24 hours, showing bearish continuation with a 0.44% decline.
• Volume surged over $192M, but price action remained within a tight consolidation range.
• RSI and MACD showed weakening momentum, with RSI entering oversold territory.
• A key support level emerged around 1.1615–1.1619, which appears to be holding.
• Volatility dipped below 1.1630, suggesting potential for a breakout or reversal in the near term.

24-Hour Price and Volume Summary

Eurite/Tether (EURIUSDT) opened at 1.1668 (12:00 ET–1) and traded in a bearish trend, reaching a high of 1.1680 and a low of 1.1601, before closing at 1.1604 at 12:00 ET. The total volume for the 24-hour period was 591,887 units, with a notional turnover of $192.14 million. This indicates strong participation but limited directional clarity.

Structure and Key Levels

The price action formed a bearish continuation pattern over the last 24 hours, with a clear decline from 1.1680 to 1.1604. A bearish engulfing pattern is visible near 1.1650, confirming a shift in sentiment. A doji at 1.1622–1.1624 suggests indecision. Key support levels are forming at 1.1615–1.1619 and 1.1605–1.1609, with the latter showing strong buying pressure late in the session.

Moving Averages and MACD/RSI

On the 15-minute chart, the price has closed below both the 20-period (1.1645) and 50-period (1.1652) moving averages, indicating bearish momentum. The MACD has remained negative throughout the session, with a bearish crossover recently observed. RSI dipped into the oversold zone (~30), suggesting potential for a short-term bounce. However, a reversal is unlikely without a bullish breakout above 1.1627–1.1630.

Bollinger Bands and Volatility

Price has remained within a contracting Bollinger Band for the majority of the session, indicating low volatility. The last hour has seen a slight expansion in the bands, with price hovering near the lower band at 1.1601–1.1609. A break above the middle band (1.1620) would signal the start of a possible short-term recovery.

Volume and Turnover Analysis

Volume spiked heavily during the late-night hours in the 12:00–2:30 ET timeframe, but this was matched by a significant price decline, indicating distribution rather than accumulation. The volume has not confirmed a bullish bounce in the last 12 hours. Price and turnover show convergence in the 1.1615–1.1620 range, suggesting this is a key consolidation zone.

Fibonacci Retracements and Key Levels

Applying Fibonacci levels to the recent 15-minute swing high (1.1680) to low (1.1601), key levels are:- 61.8% retracement at 1.1638- 50% retracement at 1.1641- 38.2% retracement at 1.1647

A break above 1.1638 would signal a return to neutral territory and could invite buyers. Conversely, a break below 1.1601 could trigger further downside towards the next support level at 1.1595.

Backtest Hypothesis

A potential backtesting strategy for EURIUSDT could leverage a breakout of the 1.1627–1.1630 resistance zone, combined with a bullish MACD crossover and RSI rebound above 40 as confirmation signals. Given the recent consolidation and high volume at key support levels, this setup could be used to enter long positions with a stop-loss below the 1.1605–1.1609 range. The strategy would aim to capture a short-to-medium-term reversal in a market that has shown increasing volatility and order flow imbalance. The current price behavior suggests this level is a high-probability area for a bounce or reversal in the next 24 hours.