Market Overview for MultiversX/Tether (EGLDUSDT) – 2025-11-11

Summary
• Price action showed a strong bullish reversal from 9.66 to 10.18.
• Volatility expanded significantly, with large range candles and volume spikes.
• RSI overbought levels and Bollinger Band breakouts highlight momentum.

MultiversX/Tether (EGLDUSDT) opened at 9.92 on 2025-11-10 at 12:00 ET and closed at 9.76 at 12:00 ET on 2025-11-11, reaching a high of 10.18 and a low of 9.66. The 24-hour trading session saw total volume of 109,948.95 and total turnover of 1,062,138.81 USD.

Structure & Formations

The 15-minute chart revealed a strong bullish impulse phase between 2025-11-10 19:00 and 2025-11-11 00:00 ET, with a key high at 10.18. Price then corrected to a support zone between 9.75 and 9.80, forming a potential bullish engulfing pattern from 9.76 to 9.86 at 15:00 ET. A doji appeared near 9.66 at 10:45 ET, indicating indecision and a possible short-term support level.

Moving Averages

On the 15-minute timeframe, the 20-period and 50-period moving averages crossed over from bearish to bullish during the early part of the session, confirming the strength of the upward move. The 50-period MA currently sits at around 9.93, and the 20-period MA at 9.88, suggesting a possible retest of this zone before further direction is resolved. On the daily chart, the 50/100/200 MA structure shows a bearish bias, with price currently below all three, but the 15-minute bullish crossover may indicate a short-term reversal.

MACD & RSI

MACD turned positive during the upward phase, showing a bullish crossover at 19:00 ET. RSI reached overbought territory above 70 during the rally to 10.18, but has since retreated to neutral ground around 55–60, indicating a possible consolidation phase. A divergence between price and RSI during the pullback to 9.76 suggests weakening bearish momentum.

Bollinger Bands

Price broke out above the upper Bollinger Band during the late-night rally, indicating strong momentum and a period of high volatility. The band width expanded significantly from around 0.08 to a peak of 0.20. Price currently trades near the middle band, which at 9.86 acts as a potential pivot for further direction.

Volume & Turnover

Volume spiked during the late-night rally, with a 15-minute candle at 23:00 ET recording a volume of 3,916.23 and a high of 10.18. This was one of the largest volume spikes of the day. A divergence between price and volume was observed during the early morning pullback, suggesting the bearish leg lacked conviction.

Fibonacci Retracements

On a 15-minute swing from 9.66 to 10.18, the 38.2% retracement level is at 9.96 and the 61.8% at 9.84—both were key pivot points during the consolidation phase. These levels may continue to act as support/resistance in the short term.

Backtest Hypothesis

The backtesting strategy assumes a close price-based approach with a fixed 5-day holding period for risk control. Given today’s strong 15-minute momentum and Fibonacci alignment, a hypothetical entry near 9.84 (61.8% level) with a 9.75 stop and 10.10 target would align with the observed price behavior. The MACD and RSI signals suggest a favorable setup for a short-term long trade, with the 5-day risk rule offering protection should the correction accelerate.