Market Overview for MultiversX/Tether (EGLDUSDT): Bearish Reversal on 24-Hour Chart

Generated by AI AgentAinvest Crypto Technical RadarReviewed byAInvest News Editorial Team
Monday, Dec 15, 2025 2:51 pm ET1min read
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Aime RobotAime Summary

- EGLD/USDT fell to $6.83 from $7.22, forming a bearish engulfing pattern below key $7.10 support confirmed by surging volume.

- RSI hit oversold 25 while MACD showed bearish divergence, with price below 200SMA indicating potential further weakness.

- Volatility spiked as Bollinger Bands expanded, with price at lower band and $6.98 Fibonacci level becoming short-term floor.

- Market consolidation or test of $6.80–$6.75 likely if bearish momentum continues, with 20SMA and RSI monitoring reversal signals.

Summary
• Price dropped from $7.22 to $6.83 amid strong bearish momentum, forming a key bearish engulfing pattern.
• RSI entered oversold territory near 25, while MACD remained negative with a bearish crossover.
• Volume surged after 15:00 ET, confirming the breakdown below a critical support at $7.10.
• Bollinger Bands expanded as volatility spiked, with price currently at the lower band.

MultiversX/Tether (EGLDUSDT) opened at $7.22 on 2025-12-14 and dropped to a low of $6.83 by 12:00 ET on 2025-12-15, closing at $6.83. The pair recorded a total volume of 58,597.66 and a turnover of $411,909.97 over the 24-hour window.

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Structure & Moving Averages


The price formed a bearish engulfing pattern around 15:00 ET as it broke below a key support at $7.10, confirming a shift in sentiment.
The 5-minute 20SMA and 50SMA lines both trended downward, reinforcing the bearish bias. On the daily chart, the price appears to be moving below the 200-period SMA, suggesting further weakness could follow in the near term.

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Momentum and Indicators


The RSI dropped sharply into oversold territory near 25, but failed to trigger a meaningful bounce, indicating continued bearish pressure. MACD crossed below the signal line, with a bearish divergence visible as price lows continued lower while MACD moved lower in tandem.

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Volatility and Volume


Volatility spiked after 15:00 ET as Bollinger Bands widened significantly, with price settling at the lower band. Volume surged during the critical breakdown, confirming the bearish move. Notional turnover also spiked, aligning with price action and suggesting strong conviction in the downward move.

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Fibonacci and Key Levels


The breakdown at $7.10 corresponds to the 61.8% Fibonacci retracement level from a prior bullish swing. Price is now testing the 38.2% level at ~$6.98, which may hold as a short-term floor if bears pull back.

The price may consolidate at current levels or test the $6.80–$6.75 range if bearish sentiment persists. Investors should monitor the 20SMA and RSI for early signs of a potential reversal or continuation. As always, price action can be volatile, and unexpected news or volume shifts may alter the near-term trajectory.