Market Overview for MultiversX/Romanian Leu (EGLDRON) - 24-Hour Analysis

• Price opened at 61.8 and closed at 60.7, with a 24-hour high of 63.8 and low of 60.6.
• A bearish reversal pattern formed near 62.8–63.8 on the 15-minute chart before a sharp decline.
• Volatility spiked with heavy volume surges during late-night and morning hours.
• RSI indicates oversold conditions, suggesting potential for short-term rebound.
• Bollinger Bands widened, signaling increased volatility amid downward momentum.

MultiversX/Romanian Leu (EGLDRON) opened at 61.8 on 2025-09-18 at 12:00 ET and closed at 60.7 on 2025-09-19 at 12:00 ET. The pair reached a high of 63.8 and a low of 60.6 during the 24-hour period. Total volume amounted to 2,493.33 units, with a notional turnover of approximately 154,474.00 units (RON equivalent).

Structure & Formations

Price action on the 15-minute chart revealed a bearish reversal pattern near 62.8–63.8 during the early morning hours on 2025-09-19, with a large bearish candle opening at 62.8 and closing at 62.5. This was followed by a sharp decline into the 60.6–60.7 range by late afternoon. Key support levels were observed at 61.8 and 60.7, while resistance levels formed around 62.8 and 63.1. A bearish engulfing pattern occurred during the 02:30–03:00 ET timeframe, confirming a shift in sentiment from bullish to bearish.

Moving Averages

Short-term momentum on the 15-minute chart crossed below key moving averages, including the 20-period (55.7) and 50-period (55.2) moving averages, reinforcing bearish bias. Daily moving averages (50, 100, and 200-period) also showed a downward trend, indicating a longer-term bearish setup as price remains below all three.

MACD & RSI

MACD showed a bearish crossover with the signal line during early morning trading, confirming the downturn. RSI has fallen into oversold territory around 30–32, which may signal a potential rebound in the short term. However, bearish momentum remains intact, with price still below both MACD and RSI thresholds.

Bollinger Bands

Bollinger Bands expanded significantly during the decline from 63.8 to 60.6, with price closing near the lower band. The expansion indicates increased volatility and heightened risk for both buyers and sellers. Price is likely to test the 61.2–61.5 zone before finding a new equilibrium.

Volume & Turnover

Volume spiked notably during the 01:30–03:00 ET and 10:30–12:00 ET periods, with the largest single candle in the dataset (volume: 302.06) occurring at 03:30 ET, closing at 62.5. This suggests increased selling pressure and distribution from larger participants. Turnover also spiked during these times, confirming volume-driven price action. Price and volume were aligned during the decline, with no notable divergence observed.

Fibonacci Retracements

Fibonacci levels on the 15-minute chart highlighted 61.8 as a critical support level (61.8%), with 60.7 appearing to be a test of the 61.8% level from the 60.6–63.8 swing. A pullback may retest 61.8–61.9 on the 15-minute timeframe, with a potential 38.2% retracement at 61.3–61.5. On the daily chart, a 50% retracement of the 60.6–63.8 range is currently at 62.2–62.3.

Backtest Hypothesis

Based on the observed patterns and indicators, a potential backtest hypothesis involves a short-bias strategy triggered by a bearish engulfing candle on the 15-minute chart, accompanied by a close below the 50-period moving average. A stop-loss could be placed above the most recent high, and a target could be set at the next Fibonacci support level (61.8–61.9). This approach aligns with the observed trend and could be optimized using volume and RSI as confirmation filters.