Market Overview: MultiversX/Tether (EGLDUSDT) – 24-Hour Analysis

Generated by AI AgentAinvest Crypto Technical RadarReviewed byAInvest News Editorial Team
Monday, Jan 12, 2026 3:35 pm ET1min read
EGLD
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Aime RobotAime Summary

- EGLDUSDT tested $6.05–$6.06 support, consolidating after a sharp decline to $5.97 amid bearish EMAs.

- RSI hit 30 (oversold), Bollinger Bands widened, and MACD diverged during the late-night drop.

- Volume spiked during the decline but failed to confirm the final bullish candle near $5.97–$6.02.

- Fibonacci 61.8% support at $6.06 held, while 38.2% resistance at $6.25 and $6.10–$6.15 breakout remain key watchpoints.

Summary
• Price tested key support at $6.05–$6.06, with rejection and consolidation.
• Momentum indicators suggest oversold conditions as RSI dipped to 30.
• Bollinger Bands widened, reflecting rising volatility during the drop.
• Volume spiked during the late-night decline but diverged with price in the final hours.

MultiversX/Tether (EGLDUSDT) opened at $6.37 on 2026-01-11 12:00 ET, reached a high of $6.40, and a low of $5.97 before closing at $5.97 on 2026-01-12 12:00 ET. Total volume for the 24-hour period was approximately 134,071.22, with turnover amounting to $817,751.16.

Structure & Formations


Price carved a descending channel through the session, testing a key support level near $6.05–$6.06 during the early morning hours. A bullish engulfing pattern appeared at the end of the session around $5.97–$6.02, suggesting a potential short-term bounce. A morning doji near $6.12 hinted at indecision as buyers stepped in to support the pair after a sharp decline.

Moving Averages


On the 5-minute chart, the 20-period and 50-period EMAs remained bearish, tracking below price for most of the session. On the daily chart, price closed below the 50-period SMA, with the 200-period SMA acting as a long-term resistance at ~$6.40–$6.45.

MACD & RSI


The MACD turned negative and diverged with price during the late-night decline, confirming bearish momentum. RSI dropped to 30 early on 2026-01-12, signaling oversold territory but failed to trigger a sustained reversal.

Bollinger Bands


Volatility expanded significantly as price moved lower, with Bollinger Bands widening to reflect the sharp drop. By the end of the session, price was near the lower band, suggesting a possible near-term rebound.

Volume & Turnover


Volume surged during the sharp drop from $6.20 to $5.97, with a high of 11,382.68 units traded at $6.13. However, turnover failed to confirm the final bullish candle near $5.97–$6.02, suggesting weak conviction in the bounce.

Fibonacci Retracements


Fibonacci levels on the 5-minute chart identified a 61.8% retracement near $6.06, which held as support during the session. Daily retracement levels showed the 38.2% level at ~$6.25 as a potential near-term resistance.

The market appears to be consolidating after a sharp decline, with technicals suggesting a short-term bounce from key support. However, without a clear break above $6.10–$6.15, the bearish bias may persist. Investors should remain cautious for a potential retest of $6.05 and watch for divergence in volume and momentum signals.