$EUL surged 13.19% in the past 24 hours, strongly outperforming the broader crypto market’s 1.82% decline.

Here’s what’s driving the move 👇

1. Synthetic USD Launch Anticipation (Bullish)

Overview: Euler co-founder Michael Bentley revealed plans to launch a synthetic USD currency in the coming weeks — expanding the protocol’s reach from lending to include a decentralized exchange (DEX).

Impact: This could attract users looking for stablecoin-like assets with DeFi-native yields, boosting activity, revenue, and EUL’s deflationary Fee Flow auctions.

Caution: Key details on collateral backing and peg stability are still undisclosed.

2. Technical Breakout (Bullish)

Overview: EUL broke above its 30-day SMA ($ETH

8.75) and 38.2% Fibonacci retracement ($BNB

9.89), with RSI at 57.05, signaling potential for more upside.

Impact: A close above the $BTC

9.31 (50% Fib) level supports a bullish outlook, though the **$