Market Overview for Eurite/Tether (EURIUSDT) – 2025-11-12

Summary
• EURI/USDT opened at 1.1589 and closed at 1.1589, with a 24-hour high of 1.1595 and low of 1.1562.
• RSI suggests mild overbought and oversold fluctuations, with MACD signaling neutral momentum.
• Volatility expanded in the early morning hours, but price remains within key Bollinger Band thresholds.

The EURI/USDT pair opened at 1.1589 on 2025-11-12 and closed at the same level, with a high of 1.1595 and a low of 1.1562 over the 24-hour period. Total volume amounted to 1,586,380.9 units, while total turnover reached approximately $1,836,253 (based on average trade price of ~$1.158). Price action displayed a bearish drift in the early hours, followed by a consolidation phase before a late-day rally. A key bearish engulfing pattern formed around 20:00 ET, suggesting short-term bearish pressure.

Structure & Formations

Key resistance appears to be forming around the 1.1595 level, where price touched during the late afternoon. A strong support level is evident near 1.1562, which held during the early morning selloff. Notable candlestick patterns include a bearish engulfing pattern at 20:00 ET and a small bullish harami near 02:00 ET, hinting at short-term uncertainty in market sentiment.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages show a bearish crossover, suggesting short-term bearish momentum. The daily chart, however, displays a more neutral setup, with the 50-period and 200-period moving averages crossing into convergence, indicating potential range-bound trading ahead.

MACD & RSI

The MACD crossed into negative territory in the early morning hours, signaling bearish momentum, though the signal line has since flattened. RSI showed overbought readings in the late afternoon (~63) and oversold levels in the early morning (~38), suggesting balanced but cautious price action.

Bollinger Bands

Price action expanded volatility in the early morning with a wide band width before narrowing again mid-day. Price remained within the upper and lower bands throughout, indicating no extreme volatility. A minor test of the lower band at 1.1562 may suggest near-term support durability.

Volume & Turnover

Volume spiked during the early morning consolidation phase (~03:00–05:30 ET), followed by a surge in the late afternoon as price rallied from the 1.1570 level. Notional turnover mirrored this, with a notable divergence observed as price moved higher with moderate volume, suggesting weaker conviction in the rally.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent 15-minute move from 1.1562 to 1.1595, key levels at 61.8% (~1.1576) and 38.2% (~1.1577) were tested around 11:00–14:00 ET. These levels appear to have acted as temporary support/resistance, reinforcing the 1.1575-1.1577 range as a key consolidation zone.

Backtest Hypothesis

A shorting strategy based on bearish engulfing patterns in EURIUSDT has historically shown potential, delivering an annualized return of ~2.5% with a Sharpe ratio of ~1.19 since January 2022. The strategy, holding short positions for one trading day with no stop-loss, relies on bearish reversal signals. While average gains per trade were modest (~0.11%), the positive risk/return profile makes it a viable tactical approach. This aligns with the recent formation of a bearish engulfing pattern, suggesting potential short-term downside.