Market Overview for MultiversX/Tether (EGLDUSDT) on 2025-12-18

Summary
• Price action formed a bearish reversal pattern after hitting a 24-hour high of $6.63.
• Volatility expanded after 14:00 ET, with RSI indicating overbought conditions.
• Volume surged during the 5-minute bullish breakout at 15:45 ET, confirming the move.
• Bollinger Bands tightened early in the session before a sharp expansion to the upside.
• Turnover rose sharply with the 6.61–6.63 peak, suggesting potential short-term profit-taking.

MultiversX/Tether (EGLDUSDT) opened at $6.57 on 2025-12-17 12:00 ET, peaked at $6.63, hit a low of $6.29, and closed at $6.61 at 12:00 ET on 2025-12-18. Total volume was 48,731.02, and turnover reached $322,020.49 over the 24-hour period.

Structure & Formations

Price broke a short-term resistance at 6.61 with a bullish engulfing pattern during the 15:45–16:00 ET period. A bearish doji appeared at the 20:30–20:45 ET timeframe, signaling potential hesitation. The day’s low at 6.29 acted as a strong support, with price rebounding after a 4.7% intraday drop.

Moving Averages and Momentum

A 20-period moving average on the 5-minute chart crossed above the 50-period line early in the morning, hinting at short-term bullish bias. The 50-period daily moving average sat near 6.49, aligning with the mid-range of the day’s action. RSI hit overbought territory above 70 during the late afternoon push, suggesting a potential consolidation phase.

Bollinger Bands and Volatility

Volatility remained narrow until 14:45 ET, when Bollinger Bands expanded sharply following a 3.3% upward move. Price traded near the upper band between 15:45 and 17:00 ET, consistent with a continuation of the bullish momentum. A contraction in volatility during the early hours suggested a period of consolidation before the breakout.

Volume and Turnover

Volume and turnover spiked during the bullish breakout from 6.61 to 6.63, with over $2,000 in turnover and volume of 300+ in a single 15-minute window. A divergence between volume and price occurred during the 19:00–20:00 ET period, where volume declined despite a continued price pullback.

Fibonacci Retracements

A 61.8% retracement level from the 6.29–6.63 swing sat near 6.52, which held as a key support zone during the afternoon pullback. On the daily chart, the 50% retracement of the week’s range aligned with the 6.55–6.58 range, where price showed multiple consolidation moves.

EGLDUSDT appears to have built short-term momentum following a strong bullish breakout. However, overbought conditions and a bearish doji suggest caution ahead of the 24-hour mark. Investors may want to monitor the 6.55 support level for any signs of reversal or continuation.