Market Overview for MultiversX/Tether (EGLDUSDT) - October 5, 2025

• MultiversX/Tether (EGLDUSDT) broke out of a consolidation phase with a bullish 24-hour close near $13.74
• Strong momentum seen in early ET morning, followed by consolidation and a rebound from key support
• High volume during the breakout but declining in the afternoon, suggesting mixed conviction
• RSI and MACD signaled overbought conditions during the peak, indicating potential short-term profit-taking
• Volatility expanded in the 7:00–9:00 ET window, with price reaching $14.30 before retracing

24-Hour Summary

MultiversX/Tether (EGLDUSDT) opened at $13.32 on October 4 at 12:00 ET and closed at $13.74 on October 5 at 12:00 ET. The price reached a high of $14.30 and a low of $13.18 during the 24-hour window. Total trading volume was 394,096.68 EGLD, with a turnover of approximately $5,447,778. The market saw a clear breakout and consolidation pattern, marked by diverging momentum and volume.

Structure & Formations

The price structure formed a bullish breakout from a key support level of $13.50–$13.60. A strong bullish engulfing pattern emerged from 07:00–07:15 ET when the price surged from $13.65 to $13.91, followed by a series of higher highs and consolidation. A notable bearish reversal was observed at $14.11–$14.05, indicating potential profit-taking. The price later found support at $13.65–$13.74, consolidating after the peak.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages showed a strong bullish crossover in the early ET morning. Price action held above the 50 SMA after 07:00 ET, indicating strong upward momentum. On the daily chart, the price remains above the 50, 100, and 200-period moving averages, suggesting a continuation of the bullish trend.

MACD & RSI

The MACD line crossed above the signal line in the early ET morning and remained positive for most of the session, reinforcing the bullish sentiment. RSI reached 70+ levels during the peak at $14.30–$14.05, signaling overbought conditions. A divergence appeared in the late ET afternoon between RSI and price, suggesting the possibility of a short-term correction.

Bollinger Bands

Volatility expanded significantly during the breakout phase (07:00–09:00 ET), with the Bollinger Bands widening from $13.65–$14.15. Price peaked at the upper band ($14.30) and later retreated toward the mid-band, finding support near $13.70. The contraction phase began after 10:00 ET, indicating a potential continuation of the bullish trend.

Volume & Turnover

Volume spiked during the breakout phase (07:00–09:00 ET), reaching a peak of ~181,759 EGLD in a single 15-minute candle. Turnover surged in line with the volume increase, with notional turnover reaching ~$2.5M in that period. However, volume declined in the afternoon and evening, suggesting weakening momentum and a potential short-term reversal.

Fibonacci Retracements

Key Fibonacci levels were defined from the low at $13.18 to the high at $14.30. The 61.8% level at $13.90 served as a key resistance area, and the price retested this level during the consolidation phase. The 38.2% level at $13.74 became a strong support zone during the late ET session.

Backtest Hypothesis

The backtesting strategy described focuses on breakout entries with a trailing stop-loss based on 50-period moving average convergence and Bollinger Band volatility. If applied to this 24-hour window, a long entry could have been triggered at the peak of the morning breakout (around $13.91) with a stop-loss near $13.60. A trailing stop could have locked in gains as price peaked at $14.30. This setup would have captured a 6.2% move, with risk limited to ~3%. Given the strong MACD and volume confirmation, the strategy appears valid for this market phase.