Enso/USDC Market Overview: 2025-11-01

• Enso/USDC traded in a narrow range before surging to a 24-hour high near $1.443 amid a large-volume candle.
• Price corrected sharply after the top, closing 12:00 ET at $1.38 with bearish divergence in later sessions.
• Volatility expanded mid-cycle, with volume spiking to $19,201.41 during the peak and declining into the close.
• Momentum indicators suggest overbought conditions at the peak and oversold readings in the last 2–3 candles.

Opening and Closing Dynamics

Enso/USDC opened at $1.346 on 2025-10-31 12:00 ET and reached a 24-hour high of $1.443 at 00:15 ET. The pair closed at $1.38 at 12:00 ET. Total volume amounted to 102,545.5 units, with a turnover of $147,508.67 (calculated as volume × average price per candle).

The price action was characterized by a sharp ascent in the early hours, a consolidation in the mid- to late-night period, and a bearish reversal in the final hours of the 24-hour window.

Structure and Formations

Price found key resistance at $1.424 during the early morning, followed by a break and retest of the level at $1.418. A bullish engulfing pattern formed at 23:30 ET as the candle opened at $1.385 and closed at $1.415. This was followed by a bearish reversal with a long upper shadow and small body at $1.418, signaling a potential top.

Later in the session, a doji formed at $1.39 and $1.376, suggesting indecision among traders. A strong bearish trend emerged after the peak with a large-volume candle at $1.376, confirming a shift in sentiment.

The $1.36–$1.38 range appears to have become a new support zone, with a 15-minute bullish pinocchio at 04:30 ET suggesting possible short-term reversal.

Moving Averages and Momentum

On the 15-minute chart, the 20-period and 50-period moving averages show a bearish crossover in the final hours, confirming the downward trend. The 50-period MA crossed below the 100-period and 200-period MAs in the daily chart, indicating a potential medium-term bearish bias.

The MACD line crossed below the signal line at 03:00 ET, signaling a bearish momentum shift. The RSI reached overbought territory (above 70) during the peak at $1.443 and dipped into oversold (below 30) near $1.376, suggesting exhaustion in both directions.

Volatility and Volume Profile

Volatility expanded significantly during the peak, with a Bollinger Band width reaching 0.03 at 00:15 ET. Price then remained within the bands for the remainder of the session, indicating a return to equilibrium.

Volume spiked at $1.443 with a turnover of $19,201.41, marking the largest single candle in the 24-hour period. The decline in volume during the bearish phase suggests lack of conviction in the downtrend.

The 15-minute Fibonacci retracement from $1.334 to $1.443 shows key levels at 61.8% ($1.397) and 38.2% ($1.385). Price currently appears to be consolidating at or near the 38.2% retracement, suggesting potential support.

Backtest Hypothesis

Given the overbought and oversold extremes observed in RSI and the clear Fibonacci structure, a potential backtest strategy could focus on using RSI divergences and Fibonacci retracements as entry signals. For example, a long entry could be triggered when RSI dips below 30 and then reverses on strong volume near the 38.2% retracement level, with a stop-loss placed below the 23.6% level.

Short positions may be considered when RSI exceeds 70 and a bearish reversal candle forms at resistance levels. This strategy would aim to capture medium-term reversals in pairs with clear trend structures like ENSOUSDC.

Outlook and Risk Consideration

With price consolidating around $1.38 and a bearish bias confirmed by key technical levels and volume dynamics, the near-term outlook favors further testing of the $1.36 support. However, a break above $1.395 could invalidate the bearish scenario and spark a short-term rebound.

Investors should monitor volume and RSI divergence closely for confirmation of either trend continuation or reversal. Volatility may remain elevated as traders react to the recent structure.