Market Overview for Eurite/Tether (EURIUSDT)

Summary• EURIUSDT traded in a narrow range, with price consolidating between 1.1564 and 1.1572.
• Volume surged after 15:00 ET, but failed to push the price beyond key resistance.
• MACD and RSI suggest weakening bullish momentum, hinting at potential reversal signals.

Eurite/Tether (EURIUSDT) opened at 1.1570 on 2025-11-08 at 12:00 ET and closed at 1.1565 at 12:00 ET the following day. The 24-hour high reached 1.1572, while the low dipped to 1.1559. Total trading volume was 403,421.5 units, with notional turnover totaling approximately 464,712.1 USD.

Structure & Formations

EURIUSDT exhibited a choppy structure throughout the 24-hour period, oscillating within a 1.1564–1.1572 range. A few consolidation clusters emerged between 1.1567 and 1.1570, with no strong breakouts. A small bearish engulfing pattern formed near 1.1570–1.1566 on the 15-minute chart after 14:45 ET, hinting at potential bearish pressure. A bullish harami pattern was seen just before 10:00 ET, but failed to produce a meaningful follow-through.

Moving Averages

On the 15-minute chart, price hovered around the 20- and 50-period moving averages, indicating indecision. On the daily timeframe, the 50-period MA crossed above the 100- and 200-period lines in early November, suggesting a longer-term bullish bias. However, recent price behavior has remained range-bound, suggesting that traders may be waiting for a stronger impetus to break out of this consolidation.

MACD & RSI

The 15-minute MACD remained in neutral territory with a slightly bearish bias as the histogram flattened after reaching a peak in midday. RSI dipped below 50 in late hours, indicating weakening bullish momentum. A potential overbought condition was observed at 1.1572, followed by a pullback that suggests exhaustion of the upward move.

Backtest Hypothesis

Given the bearish engulfing formation and RSI divergence, a short-term bearish strategy could be considered. A potential backtest would involve shorting EURIUSDT on the confirmation of the bearish engulfing pattern with a stop just above 1.1572 and a target at 1.1562–1.1563. The success of this strategy would depend on confirmation of bearish momentum through volume and RSI alignment.

Bollinger Bands

Bollinger Bands remained relatively narrow during the morning and widened slightly after 14:00 ET, indicating a rise in volatility. Price action stayed within the bands for most of the day, with a brief touch of the upper band around 1.1572. The midline of the bands moved gradually downward in the afternoon, suggesting a bearish shift in the price trend.

Volume & Turnover

Volume surged after 15:00 ET, reaching a peak of over 36,000 units during the 15:00–15:15 ET interval, but failed to push the price higher. This divergence between volume and price suggests a potential bearish reversal. Turnover increased during the afternoon session, reflecting heightened interest, but lacked directionality.

Fibonacci Retracements

Fibonacci retracements applied to the 1.1564–1.1572 swing showed key levels at 1.1568 (38.2%) and 1.1566 (61.8%). The price found support at 1.1566 during the late afternoon and early evening hours, aligning with these levels. On the daily chart, the 50% and 61.8% retracements corresponded to 1.1569 and 1.1563, respectively—both were tested during the 24-hour period.

Over the next 24 hours, EURIUSDT could test the 1.1566 support level again, with a possible bounce or breakdown. A break below 1.1563 could trigger further bearish action. However, strong buying at this level could reverse the trend. Investors should remain cautious of low volatility and potential for sudden directional shifts.