Market Overview: MultiversX/Romanian Leu (EGLDRON) — 2025-09-25

• EGLDRON posted a 24-hour low of 53.4 and closed at 54.3, down from 57.2.
• Volatility expanded from 57.4 to 53.4, with volume spiking at 379.87 at the session close.
• A bearish engulfing pattern emerged near 54.0, signaling potential downward continuation.
• RSI entered oversold territory, suggesting a potential bounce but not immediate reversal.
• Volume was sparse during consolidation phases, indicating limited conviction in price direction.

MultiversX/Romanian Leu (EGLDRON) opened at 57.2 (12:00 ET − 1), hit a high of 57.4, a low of 53.4, and closed at 54.3 by 12:00 ET. The pair experienced a total volume of 1,622.78 and a notional turnover of 96,752.00 RON across the 24-hour 15-minute candles. A bearish reversal pattern and diverging volume suggest bearish momentum may persist ahead.

Structure & Formations

The 15-minute chart displayed a significant bearish engulfing pattern forming around the 54.0 level, confirming a key breakdown from earlier support at 56.2. A doji formed at the 54.5 level, suggesting indecision. The 54.0–54.2 range now acts as a critical support, with 55.1–55.4 previously serving as resistance before the selloff.

Moving Averages

On the 15-minute chart, the 20-period MA crossed below the 50-period MA, forming a death cross. Daily MA indicators show the 50-period MA at 55.8, above the 200-period MA at 55.0, indicating a mixed trend. The price is below both 50 and 200-day averages, reinforcing the bearish bias.

MACD & RSI

The MACD line turned negative in the final hours, crossing below the signal line with declining histogram, pointing to fading bullish momentum. RSI bottomed at 28 in the final session, entering oversold territory—suggesting a short-term bounce is possible, but a reversal remains unlikely without strong volume confirmation.

Bollinger Bands

Volatility expanded significantly in the final hours, with the price dropping below the lower band at 53.4. A wide Bollinger Band width (2.8 points) suggests a high-volatility breakout period. The current price is still within the bands, but a breach of the lower band could trigger further selling.

Volume & Turnover

Volume surged during the final session, particularly at 54.0 (142.42) and the 53.3–54.0 range (379.87), confirming the breakdown. However, volume was muted during consolidation periods, indicating a lack of conviction. Turnover diverged from price during the 55.1–56.4 rally, signaling weak follow-through.

Fibonacci Retracements

Fibonacci levels from the 57.2 to 53.4 swing show 54.7 (38.2%) and 53.8 (61.8%) as key levels. The 53.4 level is a recent swing low and may serve as a near-term floor. The price remains below the 55.0 psychological level and is unlikely to test the 57.2 highs without a reversal.

Backtest Hypothesis

A potential backtesting strategy involves entering a short position upon confirmation of a bearish engulfing pattern with volume above the 20-period average, and exiting at the 61.8% Fibonacci level. Stop-loss could be placed above the 54.5 doji high. This approach aligns with the observed momentum and volume patterns, and could be tested across similar 15-minute bearish breakouts.