Market Overview for MultiversX (EGLDUSDT) – 24-Hour Analysis (2025-08-24 12:00 ET to 2025-08-25 12:00 ET)

• MultiversX (EGLDUSDT) posted a bearish close, declining from a 24-hour high of $16.19 to $14.90, amid heavy selling pressure in the early hours of 2025-08-25.

• A large bearish engulfing candle formed at the peak of the rally, signaling a strong reversal sentiment and confirming top-side exhaustion.

• RSI and MACD both displayed bearish divergence with price, with RSI hitting overbought levels and then rapidly pulling back, hinting at distribution.

• Volatility surged on the 15-minute chart, with Bollinger Bands widening following the sharp pullback, showing increased trader anxiety and uncertainty.

• Notional turnover spiked dramatically, with over $45M traded in the 18:45–19:30 ET window, but volume failed to confirm further downside, suggesting a possible near-term stabilization.

Opening Summary

MultiversX (EGLDUSDT) opened at $15.55 on 2025-08-24 12:00 ET, reaching a high of $16.19 before closing at $14.90 on 2025-08-25 12:00 ET. Total volume amounted to 153,769.54 EGLD, with a notional turnover of approximately $2,340,826 over the 24-hour period.

Structure & Formations

The 15-minute chart revealed a strong bearish reversal pattern at the high, with a large bearish engulfing candle at $16.17–$15.89 on 2025-08-24 19:45 ET. This pattern, combined with a long upper shadow, suggests distribution and waning bullish conviction. A key support level appears to have formed around $15.27–$15.01 after the price rejected further downside on 2025-08-25 07:00–08:00 ET. The 50-period moving average on the 15-minute chart crossed below the 20-period MA (death cross), reinforcing bearish bias.

Moving Averages

On the 15-minute chart, the 20-period MA was at $15.46, and the 50-period MA at $15.68, indicating downward drift in the short-term trend. On the daily timeframe, the 50-period MA was at $16.10, and the 100-period MA at $15.95, while the 200-period MA sat at $15.50. This suggests that the pair is now trading below all major daily averages, reinforcing a bearish trend.

MACD & RSI

The MACD line turned negative and crossed below the signal line, confirming bearish momentum. RSI reached 75 during the early sell-off but dropped rapidly to 30 by 2025-08-25 08:00 ET, indicating oversold conditions. However, a divergence developed as RSI bottomed at 30 while price continued to fall slightly, hinting at a potential near-term bounce from the $14.80–$14.90 level.

Bollinger Bands

Bollinger Bands expanded significantly following the sharp pullback from the $16.19 high, with price closing near the lower band at 2025-08-25 12:00 ET. This suggests a period of high volatility and potentially overextended short positions. A rebound from the lower band could trigger a short-covering rally in the near term.

Volume & Turnover

Volume spiked sharply during the sell-off from $16.19 to $15.35, especially on 2025-08-24 19:45–20:30 ET, with a total of ~36,806 EGLD traded in one 15-minute candle alone. Notional turnover also surged, peaking at over $45M in a 45-minute window, but failed to push price lower after the $14.90 support level, indicating possible stabilization. A volume divergence formed after 08:00 ET as price continued to decline but volume dropped sharply.

Fibonacci Retracements

On the 15-minute chart, the 61.8% Fibonacci retracement level was at ~$15.45 during the initial pullback, which held briefly before price broke through. On the daily chart, the 50% retracement of the recent $14.20–$16.35 range is at ~$15.27, which was tested and held multiple times during the 24-hour window, suggesting it may serve as a key pivot level in the coming 24–48 hours.

In the near term, MultiversX appears to be consolidating at the lower end of its recent volatility range, with key support around $14.80–$14.90. A bounce off this level could see a test of the $15.27–$15.45 range on a short-covering rally. However, a breakdown below $14.80 would likely see the next support at $14.50–$14.60. Investors should remain cautious and watch for a potential divergence in volume and RSI, which may signal a short-term bottom.