Market Overview for MultiversX/Tether (EGLDUSDT) – 2025-10-03 12:00 ET

• MultiversX/Tether (EGLDUSDT) rose to $14.30 from $13.76 in 24 hours, with a closing price near the high at $14.30.
• Momentum remained positive through much of the session, with RSI and MACD indicating sustained bullish pressure.
• Volatility expanded during key 15-minute moves, with price consistently near the upper Bollinger Band in the latter half of the day.
• Turnover and volume were uneven but spiked during key bullish breaks, confirming price advances.
• A potential consolidation phase may begin after reaching a 24-hour high, with key support at $14.00 and resistance at $14.31.

MultiversX/Tether (EGLDUSDT) opened at $13.76 on 2025-10-02 at 12:00 ET and closed at $14.30 on 2025-10-03 at 12:00 ET. The 24-hour range was $13.76 to $14.31, with a total trading volume of 51,470.69 units and a notional turnover of $717,790.16. The asset showed a clear upward bias, with price action pushing through key 15-minute resistance levels and ending near the session high.

Structure & Formations

Price formed a bullish ascending triangle between $13.95 and $14.10, later breaking out above key resistance at $14.20 to hit $14.31. A bullish engulfing pattern emerged after the 09:00 ET time frame, confirming a shift in momentum. A doji at 00:15 ET suggested a brief period of indecision but was followed by a sharp recovery. The low at $13.76 acted as a psychological floor, preventing a deeper pullback.

Moving Averages

On the 15-minute chart, the 20- and 50-period moving averages remained in a bullish alignment, with price consistently above both. Daily moving averages (50/100/200) appear to have been re-clarified during this session, with the 50-day MA likely being retested in the coming days as a potential support level. The 15-minute chart remains well above the 50-period MA, suggesting near-term momentum is intact.

MACD & RSI

The MACD remained positive for most of the session, with a clear bullish divergence in the 15-minute timeframe from 00:15 to 06:00 ET. RSI hit overbought territory above 70 for several hours, suggesting exhaustion could be near. However, price did not retrace significantly after reaching overbought levels, indicating strong buyer pressure. A mild bearish divergence appeared on RSI between 18:00 and 21:00 ET, but it was quickly invalidated.

Bollinger Bands

Volatility expanded significantly from 16:00 ET onward, with the upper band stretching beyond $14.25. Price spent much of the last 6 hours of the session trading near the upper band, indicating strong bullish momentum. A contraction in Bollinger Band width occurred between 04:00 and 07:00 ET, suggesting a potential reversal or continuation setup. The current wide bands indicate a high volatility phase is ongoing.

Volume & Turnover

Volume spiked during key 15-minute bullish moves, particularly at 03:15 ET (volume = 1,995.54) and 16:00 ET (volume = 1,259.68). Turnover was most active between $14.10 and $14.25, confirming the strength of the move. A divergence between volume and price was observed around 19:00 ET, where volume decreased while price still rose slightly, signaling a potential near-term correction.

Fibonacci Retracements

Applying Fibonacci to the key 15-minute swing from $13.76 to $14.31, the 61.8% retracement level is around $14.06, which coincided with a minor pullback. The 38.2% retracement is at $13.94, where a brief consolidation occurred. Daily Fibonacci levels from a previous bearish leg (not shown in the 24-hour window) suggest that $14.30 could act as a key short-term resistance.

Backtest Hypothesis

The 15-minute timeframe offers a potential backtest opportunity based on bullish divergences in the MACD and RSI, combined with volume confirmation during key breakouts. A strategy could be designed to enter long when RSI forms a bullish divergence (RSI bottoms lower while price makes a new low), MACD turns positive, and volume confirms the breakout above a defined resistance. A stop-loss could be placed just below the 15-minute support at $14.10, with a target aligned with the 61.8% Fibonacci level at $14.30. This setup has a high probability of success in a trending environment but carries risk if the market enters a consolidation phase.