KEY TAKEAWAYS
The Euler price dropped 32% to $8.31 after its debut on Binance as a spot listing.
Spike in active addresses suggests selling pressure, not accumulation.
Break below $8 support could extend losses toward the lower Fib zones.
Over the past 24 hours, the price of Euler (EUL) has exhibited heightened volatility. Yesterday, it briefly surged following its listing on Binance before slipping downward.
The initial spike reflected traders’ excitement around the exchange debut. However, that momentum quickly faded as the Euler crypto faced selling pressure.
Despite the short-lived rally, EUL is now facing renewed bearish sentiment. Technical indicators signal weakening buying strength and the potential for further downside if support levels fail to hold.
At the time of press, the token had lost over 30% of its value and was trading at $8.31. What led to the decline, and what lies ahead?
Euler Faces Heavy Selling
On the 4-hour chart, the EUL price has remained under sustained selling pressure, with consecutive red candles dominating the trend.
This bearish momentum follows the Moving Average Convergence Divergence (MACD), which has turned negative and is now printing red histogram bars at -0.031, signaling weakening momentum.
Notably, the EMA 26 (orange) has crossed above the EMA 12 (blue), a classic bearish crossover often preceding further downside movement if buying strength does not return.
The Directional Movement Index (DMI) reflects a similar pattern. The +DMI (green) sits at 24.79, trending downward toward the -DMI (red) at 16.13. Both lines have crossed, indicating that sellers have seized momentum and reinforced the ongoing downtrend.
Meanwhile, the Average Directional Index (ADX) reads 40.60, suggesting that the bearish trend is strong and well-established.
Rising Activity, Falling Value
Supporting this move, CCN noted that the number of 24-hour active addresses has skyrocketed.
However, since the price declined, most of this activity might have been driven by profit-taking or short-term speculation rather than fresh accumulation.
In many cases, active addresses spike during a price pullback, signaling that traders move tokens to exchanges to lock in gains or manage risk, rather than accumulating them for the long term, despite the Binance spot listing.
Therefore, the surge in network activity is bearish, indicating that EUL’s price might trade lower.
EUL Price Prediction: Bearish
The daily chart supports this bearish structure. The Chaikin Money Flow (CMF) is currently at -0.65, indicating that selling pressure is dominant and capital is flowing out of EUL.
Similarly, the Money Flow Index (MFI) indicates that selling currently outweighs buying, with a trend of 60.38, moving downward toward the neutral zone at 50.
This signals fading buying momentum and suggests that a deeper correction has begun. A sustained move below 50 would confirm bearish control, as traders continue exiting positions.
Fibonacci retracement levels highlight key support and resistance zones.
The Euler crypto trades at $8.04, while the current price is $8.31, hovering just above a critical support area. A breakdown below this level could accelerate the downtrend, exposing EUL to further losses.
On the other hand, a reduction in selling pressure followed by a market rebound could trigger a bullish reversal, potentially driving EUL back toward the 0.786 Fib resistance at $12.65.
