Market Overview for MultiversX/Tether (EGLDUSDT)

Generated by AI AgentAinvest Crypto Technical RadarReviewed byAInvest News Editorial Team
Wednesday, Dec 24, 2025 3:08 pm ET1min read
EGLD
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Aime RobotAime Summary

- MultiversX/Tether (EGLDUSDT) traded between $6.21-$6.38, closing at $6.32 after a bullish engulfing pattern and consolidation.

- Volatility surged post-16:45 UTC with 7,825.81 volume candle driving $0.05 rally, while Bollinger Bands widened showing heightened participation.

- RSI hovered near 65-68 indicating moderate overbought conditions, with key Fibonacci levels at $6.33 (38.2%) and $6.38 resistance cluster.

- Market participants await confirmation above $6.38 for potential $6.41-$6.43 retest, while $6.25-$6.27 support remains critical for bearish scenarios.

Summary
• Price drifted between $6.21 and $6.38 before closing near the upper range at $6.32.
• A strong 5-minute bullish engulfing pattern emerged around 17:00 UTC on 2025-12-23.
• Volatility expanded in the final 24 hours with high volume surges post 16:45 UTC.
• RSI suggests moderate momentum, with price hovering just above overbought levels.
• Bollinger Bands show a widening trend, indicating potential for further directional movement.

MultiversX/Tether (EGLDUSDT) opened at $6.30 on 2025-12-23 at 12:00 ET, reached a high of $6.38, fell to a low of $6.17, and closed at $6.32 by 12:00 ET on 2025-12-24. Total 24-hour volume was 42,568.06, with $261,334.07 in notional turnover.

Structure and Candlestick Formations


Price action displayed a bullish engulfing pattern around 17:00 UTC on 2025-12-23, followed by a consolidation phase and a sharp rally post 16:45 UTC. A 5-minute doji emerged near $6.35, suggesting indecision. The $6.32–$6.38 range formed a key resistance cluster, while $6.25–$6.27 acted as a strong support zone.

Volatility and Bollinger Bands


Bollinger Bands expanded significantly during the 24-hour period, particularly from 16:00 UTC onward, with price frequently testing the upper band. This indicates rising volatility, likely due to increased volume and participation, especially in the final 4–5 hours of the reporting window.

Momentum and Indicators


The 12-period MACD showed a narrowing histogram but with a positive crossover, suggesting continued bullish momentum. RSI hovered near 65–68, indicating moderate overbought conditions without a clear bearish reversal. No extreme readings suggest price may remain range-bound unless a clear break above $6.38 occurs.

Volume and Turnover Dynamics


Volume surged in the late hours of 2025-12-23 and early 2025-12-24, with a large 7,825.81 volume candle at 16:45 UTC driving a $0.05 upward move. Notional turnover increased alongside volume, suggesting strong conviction in the final rally. Divergence between volume and price was minimal, indicating consistent participation.

Key Fibonacci Levels and Retracement Potential

Fibonacci retracements applied to the $6.17–$6.38 swing highlight key levels at $6.33 (38.2%), $6.30 (50%), and $6.28 (61.8%). Price briefly tested the 38.2% level before consolidating. A break above $6.38 may see a retest of $6.41–$6.43, while a decline could test $6.25–$6.27 again.

Market participants may see a continuation of bullish momentum if the $6.38 resistance is confirmed. However, a reversal or pullback into the $6.25–$6.30 range could follow if buyers fail to show conviction. Investors should closely monitor volume behavior near key levels and be cautious of potential volatility shifts in the next 24 hours.