Market Overview for MultiversX/Tether (EGLDUSDT) – 2025-09-20

• MultiversX/Tether (EGLDUSDT) closed 12:00 ET at 14.09, down from 14.11 at 12:00 ET−1, with a 24-hour high of 14.35 and low of 13.91.
• Price declined from a 15.30 ET high of 14.35 to a 03:30 ET low of 13.91, showing a bearish reversal in the early hours of 09/20.
• RSI moved into oversold territory briefly but failed to confirm a bullish bounce, while volume spiked during the early morning sell-off.
• A consolidation pattern formed after 06:00 ET with price trading within a 14.10–14.25 range, suggesting potential sideways movement ahead.
• Bollinger Bands reflected a recent volatility expansion as price traded near the upper and lower bands, indicating stretched conditions.

24-Hour Price Action Summary

MultiversX/Tether (EGLDUSDT) opened at 14.11 on 2025-09-19 12:00 ET−1 and traded to a high of 14.35 before closing at 14.09 as of 12:00 ET on 2025-09-20. The 24-hour period saw a trading range between 13.91 and 14.35, with a total volume of 80,419.97 and a turnover of 1,135,292.27. Price initially broke out to the upside in the early hours of 09/20 but failed to maintain that momentum and retested key support levels later in the session.

Structure & Formations

The 15-minute candlestick chart reveals a bearish reversal at the early morning high of 14.35, marked by a long upper wick on the candle at 15:30 ET. This suggests pressure from sellers entering the market. A significant support level appears to form at 14.09–14.10, where the price found multiple times as a floor for the decline. A 15-minute doji formed at 06:00 ET, indicating indecision between bulls and bears during the consolidation phase.

Moving Averages

On the 15-minute chart, price broke above the 20-EMA at 04:45 ET but quickly reversed. The 50-EMA acted as a dynamic resistance in the 08:00–10:00 ET window before the price consolidated below it. For the daily chart, the 50-EMA is currently at 14.16, while the 200-EMA sits near 14.25. These levels suggest a potential test of medium-term trend strength over the next 24 hours.

MACD & RSI

The 15-minute MACD line crossed below the signal line at 06:00 ET, reinforcing bearish momentum. RSI dipped into oversold territory (30–35 range) around 05:00 ET, but the price failed to rebound significantly, signaling weak follow-through. The divergence between the bullish RSI and bearish price action in that window suggests caution.

Bollinger Bands

Price touched the upper Bollinger Band at 14.35 and the lower band at 13.91, reflecting increased volatility. The recent expansion of the bands following the consolidation suggests that the market may be entering a phase of higher movement or breakout. A closing price above 14.25 or below 14.03 could confirm a new directional bias.

Volume & Turnover

Volume spiked during the early morning sell-off, with the candle at 02:30–02:45 ET showing a turnover of 2,108.92 at a price of 13.95. The highest single candle volume was recorded at 02:15–02:30 ET with a turnover of 3,362.89, coinciding with the lowest price of the day. Notably, volume declined significantly after 06:00 ET as the price consolidated, indicating a potential pause in aggressive positioning.

Fibonacci Retracements

Applying Fibonacci levels to the 15-minute swing from 13.91 to 14.35, key retracement levels at 38.2% (~14.15) and 61.8% (~14.22) appear to have acted as price magnets. The 38.2% level coincided with the 50-EMA, while the 61.8% level held during a minor bounce at 07:30–07:45 ET. These levels may see renewed attention as the price tests direction.

Backtest Hypothesis

A possible backtest strategy could involve a breakout system triggered by the price crossing the upper Bollinger Band with a confirmation candle closing above the 20-EMA. A stop-loss could be placed below the nearest support level (e.g., 14.09–14.10), and a take-profit target could aim for the 61.8% Fibonacci level at 14.22 or the 50-EMA. The strategy could be tested using a fixed 0.5% position size and a trailing stop to manage risk during volatile periods.