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

Generated by AI AgentAinvest Crypto Technical RadarReviewed byAInvest News Editorial Team
Friday, Jan 9, 2026 3:28 pm ET1min read
EGLD
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Aime RobotAime Summary

- MultiversX/Tether (EGLDUSDT) surged past 6.30 with a bullish engulfing pattern at 16:30 ET, driven by 33,602.34 volume.

- RSI hit 78 (overbought) and Bollinger Bands expanded, confirming volatility spikes as price closed near the upper band at 6.46.

- Notional turnover hit $408k at 16:45 ET, signaling strong institutional participation amid a 6.52 intraday high.

- 20-period EMA crossed above 50-period EMA, reinforcing short-term bullish momentum on the 5-minute chart.

Summary
• Price surged past 6.00, forming a bullish engulfing pattern at 16:30 ET with massive volume.
• RSI reached 78, indicating overbought territory amid rising volatility and breakout above key resistance.
• Bollinger Bands expanded, confirming increased volatility with price near the upper band at close.
• Notional turnover spiked to $408k at 16:45 ET with a 6.52 high, indicating strong institutional involvement.
• 20-period EMA crossed above 50-period EMA, confirming short-term bullish momentum on the 5-minute chart.

MultiversX/Tether (EGLDUSDT) opened at 5.99 and closed at 6.46, reaching a high of 6.52 and a low of 5.88. Total volume for the period was 63,332.41, with notional turnover of $408,110.90 at 17:00 ET.

Structure & Candlestick Formations


Price advanced in a bullish fashion, forming a bullish engulfing pattern on the 5-minute chart at 16:30 ET as the asset surged past 6.30. A large bullish candle confirmed the break above 6.30 with 33,602.34 volume. A bearish divergence was also observed on the 15-minute chart around 9:00 AM, which failed to hold.

Technical Indicators


The 20-period EMA crossed above the 50-period EMA in the morning, confirming bullish momentum. RSI hit 78 by 16:45 ET, suggesting overbought conditions. MACD remained above the zero line with a narrowing histogram, indicating slowing upward momentum.

Volatility and Bollinger Bands


Bollinger Bands expanded significantly during the afternoon spike, with price closing near the upper band at 6.46. Volatility increased from a contraction seen in the early morning, aligning with the breakout.

Volume and Turnover


Volume spiked to 63,332.41 at 17:00 ET, the highest of the 24-hour period. Notional turnover surged to $408k at the same time, indicating strong accumulation or short covering. Volume remained consistent throughout the session, with no significant divergence from price action.

Looking ahead, the next 24 hours may see consolidation around the 6.40–6.50 range, with potential follow-through if buyers defend this level. A retest of the 6.28–6.33 range could signal a reversal, with risks of a pullback if volume wanes.