Market Overview for MultiversX (EGLDUSDT) – 24-Hour Analysis (2025-08-12)

• EGLDUSDT dropped 13.5% over 24 hours, breaking below key support at $15.30.
• A bearish engulfing pattern formed on 15.12–15.15 ET, signaling increased selling pressure.
• Volume spiked during the selloff, validating bearish momentum with $3.4M in turnover in the last 4 hours.
• RSI hit 28, entering oversold territory, suggesting potential short-term bounce but no clear reversal yet.
• Bollinger Bands expanded, reflecting heightened volatility amid a sharp correction.

MultiversX’s EGLDUSDT pair opened at $15.53 on 2025-08-11 12:00 ET, reached a high of $15.88, fell to a low of $14.85, and closed at $15.85 by 12:00 ET on 2025-08-12. Total volume was 111,199.91 EGLD, and turnover was approximately $1,763,000.

Structure & Formations

The 24-hour period saw a sharp bearish breakdown below key psychological support at $15.30, confirming bearish control. A bearish engulfing pattern formed at the end of the selloff wave (15.12–15.15 ET), which is typically a strong reversal signal. However, no clear bullish confirmation has emerged yet. A bullish doji formed briefly at 05:00 ET but failed to reverse the trend.

Moving Averages

On the 15-minute chart, price closed above the 20-period SMA but significantly below the 50-period SMA, showing a bearish divergence. On the daily chart, price remains above the 50 and 100-day SMAs but is now approaching the 200-day SMA. This suggests medium-term bearish momentum but no immediate breakdown to long-term support levels.

MACD & RSI

MACD remained bearish for most of the 24-hour period, with the line staying below the signal line and diverging lower as price made a small rebound. RSI hit 28 by 11:15 ET, entering oversold territory, indicating potential for a short-term bounce. However, without a bullish candlestick confirmation or volume reversal, this may not be a strong reversal signal.

Bollinger Bands

Bollinger Bands widened significantly during the selloff, reflecting heightened volatility. Price closed near the lower band at 15.85, indicating oversold conditions. The expansion of the bands suggests traders are reacting to heightened uncertainty or news flow, increasing the chance of a short-term bounce but not a full reversal.

Volume & Turnover

Volume spiked during the selloff, with over $3.4 million in turnover between 06:00 and 10:00 ET as price dropped from $15.30 to $14.94. The volume and price action moved in unison, confirming the bearish breakdown. However, volume has since declined as price stabilized near $15.85, suggesting waning follow-through selling pressure.

Fibonacci Retracements

On the 15-minute chart, the selloff from $15.83 to $14.85 reached the 61.8% Fib level. A retest of the 50% Fib level at $15.34 is likely in the near term. On the daily chart, price is approaching the 38.2% Fib level of the recent $16.50–$14.85 swing, where a potential rebound or continuation may occur.

The immediate technical outlook for MultiversX is bearish, with price near key support and indicators suggesting potential for a short-term bounce. However, without a strong bullish reversal, the trend remains downward. Investors should watch for a confirmed break of the 50-period SMA or a rejection at $15.30 for directional clarity. As always, market sentiment and macro events could accelerate or reverse this trajectory.