Market Overview for Eurite/Tether (EURIUSDT): Bullish Momentum and Strong Confirmation

• EURIUSDT climbed from 1.1758 to 1.1792 on Tuesday, showing strong bullish momentum with increasing volume.
• A 1.1765–1.1780 consolidation zone broke to the upside, suggesting potential for further gains.
• High volume confirmed the breakout, while RSI and MACD signaled continued upward thrust.
• Volatility expanded through the day, with Bollinger Bands reflecting rising price dispersion.
• Downturns post 02:00 ET were met with strong support, suggesting accumulation and investor confidence.

Eurite/Tether (EURIUSDT) opened at 1.1758 at 12:00 ET on 2025-09-22 and closed at 1.1778 at 12:00 ET on 2025-09-23, reaching a high of 1.1792 and a low of 1.1756 over the 24-hour period. The price action indicates a strong bullish bias with a total trading volume of 823,000.6 units and a notional turnover of $969,186.50. The market displayed a clear trend reversal from consolidation to aggressive upward breakout during early Tuesday.

Structure & Formations

The EURIUSDT pair showed a key breakout above the 1.1780 resistance level, which had previously acted as a ceiling in the 1.1765–1.1780 range. A bullish engulfing pattern emerged around 09:15 ET, confirming the shift in sentiment. Additionally, the formation of higher highs and higher lows post-breakout suggests continued demand. A significant support level is now forming at 1.1778–1.1779, where price corrected multiple times and found buyers. The appearance of a potential bearish reversal pattern at 02:30 ET, however, failed to hold, indicating strong bullish control.

Moving Averages and MACD/RSI

The 20-period and 50-period moving averages on the 15-minute chart crossed in favor of the bulls, with price staying above both. MACD remained in positive territory with a strong histogram, suggesting increasing momentum. RSI reached overbought territory around 01:00–02:00 ET but remained elevated, indicating sustained buying pressure. The 50/100/200 daily MA crossover also supports a bullish outlook, with price currently above all three averages and the MACD on the daily chart showing positive divergence.

Bollinger Bands and Volatility

Volatility expanded significantly after the breakout, with Bollinger Bands widening to reflect increased dispersion. The price action spent much of the session near or above the upper band, especially between 09:15 ET and 10:30 ET, indicating strong momentum. There was a brief retrace toward the middle band during the early hours of 02:00–04:00 ET, but buyers intervened, pushing the price back toward the upper band. The volatility contraction seen around 19:00 ET suggests a possible accumulation phase before the breakout.

Volume and Turnover

Volume surged during the breakout phase, particularly between 09:15–10:30 ET, with the largest single 15-minute candle (9:15 ET) showing 175,578.4 units traded at 1.1792. This was the most significant single-volume bar of the day and coincided with the highest price. Turnover also spiked during this period, with notional value exceeding $204,000. The price-volume relationship showed strong confirmation—higher prices with increasing volume—supporting the bullish case. Later in the session, volume declined but remained above average, indicating continued participation but reduced urgency.

Fibonacci Retracements

The most recent 15-minute swing from 1.1778 to 1.1792 saw price retrace to 1.1783 (38.2%) and then tested 1.1779 (50%) during pullbacks. These retracements acted as support, with price bouncing off both levels. On the daily chart, the 38.2% and 50% retracement levels align with the 1.1778 and 1.1774 zones, which are now becoming key support levels. These levels may continue to act as pivotal areas for potential rebounds or consolidation in the near term.

Backtest Hypothesis

A potential backtesting strategy involves a breakout-based entry into EURIUSDT when the price closes above the 1.1780 level, confirmed by a bullish engulfing pattern. A stop-loss could be placed at 1.1774, the nearest support level, while a target could be set at 1.1797 (the 61.8% Fibonacci extension from the recent swing low). This setup would aim to capture the continuation of the bullish trend while managing risk during potential pullbacks. This approach aligns with the observed price action and technical indicators, providing a data-driven and probabilistic setup for the next 24-hour period.