Market Overview for Eurite/Tether (EURIUSDT) – 2025-11-06

• EURIUSDT edged higher in 24 hours with a close near the high.
• Bullish momentum emerged as price broke above key resistance levels.
• Volume surged during the Asian and European sessions, confirming strength.
• RSI remains in neutral territory, while MACD shows positive divergence.
• Volatility expanded in the morning, with price settling near the upper Bollinger Band.

Eurite/Tether (EURIUSDT) opened at 1.1469 on 2025-11-05 at 12:00 ET and reached a high of 1.1544 before closing at 1.1539 at 12:00 ET on 2025-11-06. The 24-hour low was 1.1467. Total trading volume amounted to 812,682.5 with a turnover of $943,209.

Price action shows a strong upward bias, with a clear break above key resistance levels observed during the late morning and early afternoon sessions. On the 15-minute chart, the 20-period and 50-period moving averages are in bullish alignment, while the daily chart shows the 50, 100, and 200-period lines converging to a positive trend slope. This supports a continuation case for the pair.

Structure & Formations

Notable patterns emerged during the 24-hour window, including a series of Bullish Engulfing and Bullish Harami patterns during the European and Asian sessions. A Bullish Breakout from a descending triangle on the 15-minute chart added to the positive sentiment. Key support levels appear to be forming around 1.1485 and 1.1468, while resistance is now at 1.1540 and 1.1555.

MACD & RSI

The MACD crossed above the zero line in the early morning, signaling bullish momentum. The histogram shows a positive divergence during the European session, reinforcing the uptrend. RSI remains in neutral to overbought territory, fluctuating between 60 and 75, indicating sustained buying pressure without signs of exhaustion.

Bollinger Bands

Volatility expanded as price broke above the upper Bollinger Band in the early afternoon, suggesting a breakout. The bands were relatively wide, indicating a high degree of market participation and confidence. Price has remained above the 20-period moving average within the bands for much of the session, with no significant retracement.

Volume & Turnover

Volume spiked during key breakout moments, particularly around 08:00–09:00 ET and 13:00–14:00 ET, with notional turnover increasing by over 100% in those intervals. Price and volume moved in alignment, offering strong confirmation of the bullish trend. However, the late afternoon saw a slight pullback in both volume and momentum, which could signal a pause or consolidation phase.

Fibonacci Retracements

On the 15-minute chart, price tested the 61.8% Fibonacci Retracement level at 1.1535 and extended past it into 1.1542. Daily Fibonacci levels show the 38.2% retracement at 1.1515 and 61.8% at 1.1542, both of which appear to be acting as dynamic support and resistance. The 1.1542 level may serve as a key reversal point or a temporary ceiling in the near term.

Backtest Hypothesis

The recent emergence of Bullish Engulfing patterns in EURIUSDT raises the question of whether similar patterns in related pairs, such as EURUSDT, have historically delivered favorable outcomes. To validate this, a backtest using the Bullish Engulfing pattern over a 3-year period (2022–2025) could be conducted. The test would identify all instances of this pattern in EURUSDT, generate a buy-and-hold for 5 days strategy, and evaluate its performance via metrics such as annualized return, Sharpe ratio, and win rate.

Given the high volume and bullish confirmation observed in the 24-hour dataset, applying the same pattern recognition logic on EURUSDT would provide a more accurate assessment of potential opportunities. Once the correct symbol is confirmed, the backtest can be executed to determine the robustness of the strategy and whether it aligns with the recent bullish technical conditions seen in EURIUSDT.