Market Overview for MultiversX/Tether (EGLDUSDT) – September 24, 2025

• EGLDUSDT traded in a 24-hour range of $12.62–$13.34, closing near the upper end at $13.2.
• Strong bearish momentum early, followed by a rebound and consolidation above $12.94 support.
• Volume spiked after 4 AM ET, with notable buying pressure in the $12.72–$13.27 range.
• RSI reached oversold levels near 30, suggesting potential for a near-term bounce.
• Price traded well above its 20-period MA on the 15-minute chart, hinting at bullish momentum.

MultiversX/Tether (EGLDUSDT) opened at $13.15 on September 23 at 12:00 ET, reached a high of $13.34, a low of $12.62, and closed at $13.20 at 12:00 ET on September 24. Total volume over the 24-hour period was 84,235.76 EGLD, with a notional turnover of approximately $1,113,141.30 USD. The pair saw a volatile but largely bullish trend after a sharp dip early in the morning.

Structure & Formations

EGLDUSDT exhibited a bearish breakdown from a prior range between $13.12–$13.27, followed by a sharp drop to $12.72, which acted as a key support. A bullish hammer pattern emerged at $12.72–$12.83, followed by a strong bullish engulfing pattern near $12.83–$12.94, which signaled a potential reversal. The price later consolidated between $12.95–$13.18, with $13.08 acting as a psychological barrier. A key bear trap appeared around $13.18, as sellers retook control in the final hours, but buyers quickly regained ground.

Moving Averages and MACD

On the 15-minute chart, the 20-period MA (at ~$13.16) crossed above the 50-period MA (~$13.14) in the late afternoon, forming a golden cross. The 50-period MA is currently above the price, suggesting short-term bullish momentum. The MACD crossed into positive territory and remained above the zero line, indicating strong bullish energy. On the daily chart, the 50-period MA (at ~$13.02) is below the 200-period MA (~$13.11), indicating a longer-term bearish trend despite the intraday rally.

Bollinger Bands and Volatility

Bollinger Bands showed a contraction in the early morning hours as the price moved toward the $12.72 support, followed by a sharp expansion in volume and volatility as buying pressure increased. The price spent most of the session above the upper band from $12.94–$13.18, indicating high volatility. A breakout above the upper band at $13.20 signaled continued bullish momentum.

Volume and Turnover

Volume surged in the early morning, particularly around $12.72, with over 8,400 EGLD traded in one 15-minute bar. Turnover spiked above $110,000 during the same period. A divergence occurred between price and volume in the $12.94–$13.18 range, where volume declined despite a rise in price, suggesting potential exhaustion in the bullish move. The most recent 15-minute bar at $13.20 saw high volume and turnover, confirming the breakout.

Fibonacci Retracements

Key Fibonacci retracement levels on the $12.62–$13.34 swing include 38.2% at $12.98, 50% at $13.08, and 61.8% at $13.18. The price tested the 61.8% level in the early afternoon before bouncing off it, suggesting it may still hold as a resistance. On the 15-minute chart, retracements from the $12.83–$13.27 swing showed 38.2% at $13.08 and 61.8% at $13.16, with the price consolidating around these levels.

Backtest Hypothesis

A potential backtesting strategy could involve buying on a bullish engulfing pattern that forms after a pullback to a key Fibonacci level and a golden cross of the 20/50 MA on the 15-minute chart. A sell or take-profit signal could be triggered on a bearish divergence in volume and MACD crossing below the zero line, especially if the price fails to hold above the Bollinger Band. This approach aligns with the intraday action seen in the $12.83–$13.27 range and could have yielded a short-term gain of approximately 2–3% in the last 48 hours, depending on execution timing.