Market Overview for Eurite/Tether (EURIUSDT)

• Price opened at 1.1734 and closed at 1.1665, declining sharply from a high of 1.1745 to a low of 1.1651
• Volume surged to over 200k during the 12:45 ET candle, signaling heightened selling pressure
• A strong bearish engulfing pattern formed near the 1.1744–1.1745 high, suggesting short-term bearish bias
• RSI hit overbought levels before dropping into oversold territory, reflecting volatile price action
• Bollinger Bands showed a sharp expansion in the afternoon, reflecting increased market uncertainty

Eurite/Tether (EURIUSDT) opened at 1.1734 on 2025-09-24 12:00 ET and closed at 1.1665 on 2025-09-25 12:00 ET. The 24-hour range saw a high of 1.1745 and a low of 1.1651, with a total trading volume of 200,455.9 units and a notional turnover of approximately $238,306.57. Price action shows a clear bearish bias, particularly in the final hours.

Structure & Formations

The 15-minute chart displayed multiple bearish signs, most notably a large bearish engulfing pattern that formed at the 1.1744–1.1745 high, signaling a potential top. This was followed by a sharp decline into the 1.1690–1.1670 range, which appears to function as key support. A doji formed at the 1.1690 level, suggesting a potential reversal or consolidation. Notable resistance is seen at 1.1724–1.1731, with support forming around 1.1664–1.1669.

Moving Averages

The 20-period and 50-period moving averages on the 15-minute chart both trended downward through the session, confirming bearish momentum. On the daily chart, the 50-period and 100-period moving averages remain close to each other, but the 200-period MA sits significantly above the current price, indicating long-term bearish pressure. EURIUSDT closed below all three averages, reinforcing the bearish stance.

MACD & RSI

The MACD histogram expanded into strong negative territory in the afternoon, reflecting growing bearish momentum. The MACD line crossed below the signal line, confirming the downtrend. RSI dropped from overbought levels (above 70) to oversold territory (below 30), suggesting a sharp correction is in place. However, RSI has not yet formed a bullish divergence, so the downtrend may persist.

Bollinger Bands

Bollinger Bands widened significantly in the afternoon, particularly between 1.1745 and 1.1669, indicating increased volatility. The price closed near the lower band, which is a bearish signal. A continued decline may see the price approach the 1.1664–1.1663 level, potentially triggering a bounce or another leg lower.

Volume & Turnover

Volume spiked sharply during the 12:45 ET candle at 200,455.9 units, the highest in the 24-hour period. This coincided with a price drop from 1.1724 to 1.1697, confirming bearish conviction. Notional turnover also rose sharply during this time. Price and volume moved in alignment during the decline, suggesting a strong bearish push rather than a washout.

Fibonacci Retracements

Fibonacci retracements on the 15-minute swing from 1.1745 to 1.1664 indicate key levels at 1.1717 (38.2%), 1.1702 (50%), and 1.1686 (61.8%). The price appears to find support near the 61.8% level, currently at 1.1686. A close above this could test the 50% and 38.2% retracements. On the daily chart, the 1.1690–1.1700 range represents a key Fibonacci level for near-term support.

Backtest Hypothesis

Applying a mean-reversion strategy based on the 15-minute Bollinger Bands and RSI, a potential entry could be made when the price touches the lower band and RSI falls below 30. A stop-loss could be placed just below the recent low at 1.1663, with a take-profit target at the 61.8% retracement at 1.1686. This setup appears to have a high probability of success given the current volatility and momentum. EURIUSDT may find near-term support at 1.1664, but a breakout below that could extend the downtrend.