Market Overview: Eurite/Tether Faces New 24-Hour High Amid Accumulation

Summary
• Eurite/Tether (EURIUSDT) formed a bullish breakout above key resistance near 1.1600.
• Volatility and volume spiked overnight, confirming the break with strong accumulation.
• RSI shows momentum easing near overbought levels, while MACD remains positive.
• Price hovered within upper Bollinger Bands during high-volume consolidation.
• Fibonacci levels indicate possible pullback targets near 1.1613 and 1.1631.

Eurite/Tether (EURIUSDT) opened at 1.1595 on 2026-01-18 at 12:00 ET and reached a high of 1.1644 before closing at 1.1629 at 12:00 ET on 2026-01-19. The 24-hour range was 1.1586 to 1.1644, with total volume of 528,784.2 and turnover of 604,407.30 USD.

Structure and Support/Resistance Levels

The 5-minute chart shows a bullish breakout above the 1.1600 resistance level. A strong bullish engulfing pattern formed at 00:0000 on 2026-01-19, confirming the breakout. A prior consolidation zone between 1.1594 and 1.1598 acted as support.

Key Indicators

The 20- and 50-period moving averages on the 5-minute chart are both bullish and align with the trend. MACD is positive with narrowing bars, indicating slowing momentum. RSI reached overbought territory but has yet to show divergence.

Volatility and Volume

Volatility expanded significantly overnight, with Bollinger Bands widening to accommodate the price move. Volume spiked above 80,000 on the 5-minute chart during the breakout, confirming accumulation. Notional turnover aligned with volume, showing no signs of wash trading or false confirmation.

Fibonacci Retracements

Fibonacci levels drawn from the recent 5-minute swing (1.1594 to 1.1644) suggest key pullback levels at 1.1613 (61.8%) and 1.1631 (38.2%). A failure to hold above the 61.8% retracement could invite bearish pressure.

The market appears to be testing the psychological 1.1630 level, with strong volume and momentum confirming the move up. However, overbought RSI and potential Fibonacci pullback levels could create near-term volatility. Investors should watch for signs of a reversal or confirmation above 1.1630, while being mindful of risks from profit-taking or a bearish correction.