Market Overview for Eurite/Tether (EURIUSDT): 24-Hour Action Analysis

• EURIUSDT closed lower at 1.1540 after forming bearish reversal patterns late in the session.
• Volume surged near the daily high, but selling pressure intensified after 19:00 ET.
• MACD and RSI show diverging momentum, suggesting a potential short-term correction.
• Price retreated near key Fibonacci support, with Bollinger Bands widening, indicating rising volatility.
• Turnover was uneven, with strong buying in early hours and heavy selling in the afternoon.

At 12:00 ET–1, EURIUSDT opened at 1.1554 and hit a daily high of 1.1573 before retreating to a low of 1.1524. The session closed at 1.1540. Total volume amounted to 1,370,017.8 units, while notional turnover reached $1,582,949.5 (assuming USD-based volume). Price action revealed a bearish tilt after 17:00 ET, as short-covering gave way to profit-taking on the long side.

EURIUSDT tested key support and resistance multiple times during the 24-hour window. The 1.1549–1.1553 range acted as a critical pivot, with price bouncing off this level several times in the afternoon. A Bearish Engulfing pattern emerged at 18:45 ET, followed by a Doji at 19:45 ET, signaling indecision and potential exhaustion in the bullish camp. Resistance at 1.1567–1.1571 held firm into the early hours of the next day, preventing a full breakout attempt.

20/50 EMA and 50/100/200 EMA Dynamics

On the 15-minute chart, the 20 EMA remained above the 50 EMA early in the session, supporting a bullish bias. However, as the afternoon progressed, the 50 EMA crossed below the 20 EMA in a bearish crossover, signaling a shift in sentiment. On the daily timeframe, the 50 EMA is above the 100 and 200 EMA, but the 100 EMA is closing in on the 50 EMA, suggesting a potential trend reversal could be in play over the next few days.

MACD, RSI, and Volatility Indicators

The MACD histogram expanded in the negative territory in the afternoon, reflecting growing bearish momentum. RSI dropped below 30 at 13:45 ET, indicating oversold conditions, but failed to trigger a meaningful rebound. Bollinger Bands expanded as price tested lower bounds in the late afternoon, a sign of heightened volatility. This expansion, combined with the RSI divergence, may signal a potential bounce or continued bearish drift, depending on volume confirmation.

Volume and Turnover Analysis

Volume spiked at 18:45 ET as price reached 1.1567, but this was followed by a sharp drop in volume after 19:00 ET, suggesting selling pressure lacked conviction. Turnover remained relatively flat during the afternoon but picked up again in the late evening as price tested 1.1549. A divergence between price and volume was observed during the 20:00–21:00 ET period, as price declined while volume remained low—potentially indicating a weakening bearish trend.

Fibonacci Retracements and Key Levels

Applying Fibonacci retracement levels to the 1.1524–1.1573 swing, the 61.8% level aligns with 1.1546, close to the session close of 1.1540. This level may serve as a short-term floor. The 38.2% level at 1.1558 and 50% level at 1.1561 were both tested during the afternoon, but failed to hold. On the daily chart, a similar retracement from recent highs suggests key support at 1.1535, which was tested but not decisively broken.

Backtest Hypothesis

Given the emergence of a Bearish Engulfing pattern at 18:45 ET and subsequent Doji at 19:45 ET, a short entry at the close of the candle following the pattern could have been triggered. The position could be held for five trading sessions or closed upon hitting a 10% profit at 1.1386 or a 8% stop-loss at 1.1708—whichever comes first. This strategy would test whether the reversal signals on the 15-minute chart were sufficient to capture a meaningful short-term bearish move, especially in light of the diverging RSI and MACD. The 1.1546 Fibonacci level could act as a dynamic stop for the position if the sell-off lacks follow-through.