Market Overview for MultiversX/Romanian Leu (EGLDRON) – October 7, 2025 (15-min OHLCV)

• Price opened at 60.9 and declined to a 24-hour low of 57.6 before closing at 60.4 at 12:00 ET.
• Strong bearish momentum emerged after 5:00 AM ET, with a sharp drop to 58.0 and retest of 58.5.
• Volatility expanded in the latter half of the day, with wide-range candles and volume spiking above 900.
• RSI and MACD signaled oversold conditions, suggesting possible near-term reversal.
• Bollinger Bands reflected a period of consolidation followed by breakout attempts, ending within the lower band.

The MultiversX/Romanian Leu (EGLDRON) pair opened at 60.9 at 12:00 ET−1 and traded within a range of 60.9–61.0 until a sharp decline began around 5:00 AM ET. The pair closed at 60.4 at 12:00 ET, a 1.4% drop over the 24-hour period. Total traded volume reached 1,644.54, and notional turnover amounted to 102,642.04.

Key support levels were identified at 60.4 and 59.0, while resistance held at 60.6–60.9. A bearish engulfing pattern appeared at 7:45 AM ET, signaling a reversal from a bullish to bearish trend. A large bearish candle at 3:30 PM ET (60.6–60.4) marked the most significant price drop during the period. A doji appeared at 11:30 AM ET, indicating indecision and potential trend exhaustion.

Moving averages on the 15-minute chart showed EGLDRON closing below the 20 and 50-period lines, confirming bearish momentum. MACD turned negative in the early morning, with a bearish crossover. RSI reached oversold territory around 5:30 PM ET, hinting at a potential rebound. Bollinger Bands showed a contraction before 5:00 AM ET, followed by an expansion as volatility increased. Price closed near the lower band, suggesting bearish dominance.

Fibonacci retracements highlighted key levels based on the major swing from 60.9 to 57.6. The 61.8% retracement level at 59.2 held as a minor support, while the 38.2% level at 58.9 failed to prevent the decline. Volume confirmed the bearish move after the 5:00 AM ET low, with volume spiking above 900. Notional turnover spiked alongside these volume surges, showing strong conviction in the downward move.

Backtest Hypothesis: Based on the identified bearish engulfing pattern and RSI oversold conditions, a potential long entry could be considered near the 59.0–58.5 support cluster if a bullish reversal forms. A stop-loss could be placed below 58.0, with a take-profit target at 59.6–59.8. If a doji or hammer pattern emerges, it could signal a short-term bottom.