Enso/USDC (ENSOUSDC) Market Overview: Rally from $1.476, Volatility Expands

• ENSOUSDC posted a 24-hour high of $1.569 and closed near $1.548, showing moderate bullish momentum.
• Key support found near $1.476, with price rebounding multiple times from this level.
• Volatility expanded in the last 24 hours, with turnover peaking during late ET hours.
• Downtrend broken after a strong rally from $1.476 to $1.569, indicating potential reversal.
• RSI is not available; candlestick patterns and volume suggest possible overbought conditions.

Opening Narrative

Enso/USDC (ENSOUSDC) opened at $1.513 on 2025-10-22 at 12:00 ET, reached a high of $1.569, touched a low of $1.469, and closed at $1.548 at 12:00 ET on 2025-10-23. The 24-hour trading session recorded a total volume of 104,824.72 and a notional turnover of approximately $155,460. The pair displayed a sharp price recovery and increasing volatility, especially in the afternoon and evening hours.

Structure & Formations

ENSOUSDC exhibited a strong bullish reversal pattern in the 15-minute chart, with price bouncing off a key support level around $1.476. This level acted as a psychological floor, with multiple candlestick closes near it and a notable bullish engulfing pattern observed around 18:30–19:00 ET. A double bottom structure also formed during the late ET hours, suggesting a potential breakout. A doji around $1.534 during the 04:15–04:30 ET period indicated indecision in the market, though this was followed by a strong bullish continuation.

Moving Averages

Short-term moving averages on the 15-minute chart showed a bullish crossover, with the 20-period MA crossing above the 50-period MA during the late afternoon. The 50-period MA also crossed above the 100-period MA during the overnight session, suggesting a strengthening of the bullish trend. The 200-period MA remains below the current price, indicating that the long-term trend is still neutral to slightly bearish.

MACD & RSI

The MACD histogram turned positive during the afternoon and evening sessions, confirming the bullish momentum. The line crossed above the signal line around 16:45 ET, marking a potential buy signal. However, the RSI data could not be retrieved due to symbol incompatibility. Based on candlestick and MACD behavior, price appears to be entering overbought territory. A correction could be expected in the next 24 hours if the RSI confirms this condition.

Bollinger Bands

Volatility expanded significantly during the 24-hour period, with the Bollinger Bands widening between 18:30–19:00 ET and again in the early morning hours. Price spent time near the upper band during the late ET and early morning trading periods, indicating heightened bullish pressure. A consolidation phase is likely as the bands stabilize and price moves back toward the midline.

Volume & Turnover

Trading volume surged during the late ET hours, particularly between 18:30–20:00 ET, confirming the price rebound from the $1.476 level. The highest volume was recorded at 21:15 ET with 11,743.7 units traded. Turnover mirrored this, with large notional values during these periods. However, the volume during the morning rally from $1.52 to $1.569 was less intense, indicating a possible divergence in price and volume action.

Fibonacci Retracements

Fibonacci levels were key in defining the price action. A 61.8% retracement level at $1.526 and a 78.6% level near $1.553 acted as resistance. Price rebounded from the 78.6% level in the morning, but it broke through with a rally toward $1.569 later in the session. A 50% retracement at $1.542 held temporarily before the price broke through it. These levels are now likely to be key support/resistance in the next 24–48 hours.

Backtest Hypothesis

Given the available candlestick data and the absence of RSI due to symbol incompatibility, a backtest could be built around Fibonacci retracements and bullish reversal patterns confirmed by volume surges. A potential strategy would involve entering long at the 61.8% or 78.6% retracement levels when volume spikes, with a stop-loss placed below the nearest support level. An exit could be triggered upon price reaching the 78.6% level or if a bearish candlestick pattern forms with a divergence in volume. Once the correct symbol is identified (e.g., ENS-USDC or ENSUSDC), the RSI could be integrated to refine overbought conditions and add additional confirmation rules for exits.