Market Overview for MultiversX/Romanian Leu (EGLDRON) as of 2025-10-05 12:00 ET

• Price surged from 57.4 to 61.2 on 15-minute charts, with a 12.3% rally in late ET hours
• High-volume bull move from 58.8 to 61.2 on 24-hour dataset triggered key resistance break
• RSI and MACD signaled bullish momentum, with 59.1 as new intraday support post consolidation
• Volatility peaked in the 7:00–8:00 ET window, with 1435.46 volume and 61.2 high
• Post-breakout consolidation near 59.7–58.9 suggests potential reversal setup

The MultiversX/Romanian Leu (EGLDRON) opened at 57.4 on October 4 at 12:00 ET and surged to a 24-hour high of 61.2 before settling at 58.9 at 12:00 ET on October 5. Total volume reached 4,312.37 and turnover amounted to 219,234.86 over the period, with a late-night surge in liquidity.

Structure & Formations

Price formed a bullish breakout pattern from 58.9 to 61.2 during the 7:00–8:00 ET window, followed by a consolidation phase between 59.5–58.9. Key support appears at 58.7–58.9, where multiple 15-minute candles found buyers. A morning rejection at 60.4–59.8 and a bearish harami at 59.8–59.6 suggest potential near-term resistance. The 58.9 level appears as a short-term pivot.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages show strong bullish crossover momentum during the 7:00–8:00 ET window, confirming the breakout. The 50-period MA crossed above the 20-period during the 60.4–59.8 pullback, which may indicate a continuation of the upward trend. On daily charts, the 50-period MA is above the 100-period, but the 200-period remains bearish, suggesting a potential retest of 58.9.

MACD & RSI

The MACD line crossed above the signal line during the 7:00–8:00 ET window and remained positive through 8:45 ET, supporting the bullish breakout. RSI reached a 24-hour high of 64 and has since declined to 55, indicating momentum fatigue. A drop below 52 could signal a reversal or consolidation phase.

Bollinger Bands

Bollinger Bands expanded significantly during the 6:45–8:30 ET window, reflecting heightened volatility. Price remained within the upper band for much of this period, with the 61.2 high marking the upper extreme. A return to the 58.9–59.7 range could see a contraction phase, indicating potential for renewed direction.

Volume & Turnover

Volume spiked at 1435.46 units during the 7:00 ET candle, coinciding with the 61.2 high. Turnover also spiked during this time, reinforcing the price action. Later in the session, volume normalized, suggesting distribution at the top. A divergence between price and volume may emerge if price rises without a corresponding volume surge.

Fibonacci Retracements

From the 58.9–61.2 swing, the 38.2% and 61.8% retracements align with the 59.7 and 59.1 levels, respectively. These levels have been tested during the consolidation phase. A break below 59.1 could bring 58.7–58.9 into play for deeper correction.

Backtest Hypothesis

The backtest strategy involves entering a long position on a bullish breakout above a dynamic support level, confirmed by a 20-period moving average crossover and a 61.8% Fibonacci retracement level. A stop-loss is placed at 58.7, and a take-profit is set at 61.2–61.4. The strategy assumes strong volume confirmation and rising momentum on the MACD. Given recent price action, this setup may have been activated during the 7:00–8:00 ET window, with current price near a key retracement level, offering a potential continuation or reversal opportunity.