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

Summary
• Price declined from 7.50 to 7.22, with key support near 7.20.
• Momentum weakened on RSI, suggesting oversold conditions at the close.
• Volume spiked during the dip, highlighting increased selling pressure.
• Bollinger Bands widened during the 5-7 AM ET selloff, indicating rising volatility.
• No strong reversal patterns emerged, though a bullish engulfing candle appeared near 7.30.

MultiversX/Tether (EGLDUSDT) opened at 7.46 on 2025-12-13, reached a high of 7.52, and closed at 7.31 as of 12:00 ET on 2025-12-14. Total volume for the 24-hour window was 36,055.56, and notional turnover amounted to ~$259,551.

Structure and Momentum

Price action revealed a broad bearish bias, with a key swing high at 7.52 failing to hold, followed by a pullback to 7.26. RSI showed a sharp descent into oversold territory by the close, suggesting a potential pause or short-term rebound, though confirmation is pending. A 20-period MA on the 5-min chart remained bearish, while the 50-period MA provided some near-term support.

Volatility and Volume

Volatility increased during the overnight selloff, with Bollinger Bands expanding from ~7.46 to ~7.26. Volume surged during the decline, particularly in the 5–7 AM ET window, reinforcing the bearish move. Turnover aligned with price, showing no divergence between volume and price action.

Patterns and Retracements

Candlestick patterns included a bearish dark cloud cover at 7.46–7.45 and a bullish engulfing candle near 7.30–7.31, indicating potential short-term stabilizing behavior. Fibonacci retracement levels of the 7.26–7.52 swing suggested key levels at 7.39 (61.8%) and 7.45 (38.2%), both of which held briefly.

Looking ahead, a close above 7.45 may signal a potential rebound, while a break below 7.20 could extend the downward move. Investors should remain cautious of overnight volatility and watch for a clear breakout or breakdown signal within the next 24 hours.