Enso/USDC Market Overview: 2025-11-02

• ENSOUSDC climbed from 1.352 to 1.511 in 24 hours, showing strong upward momentum.
• Volatility surged with a high-low range of 0.159 and peak turnover near 68,449.98.
• A bullish engulfing pattern emerged at 1.411–1.462, suggesting potential continuation.
• RSI approached overbought levels with no signs of near-term exhaustion.
• Volume surged during the rally but dipped slightly in the final 15-minute candle.

The ENSOUSDC pair opened at 1.352 on 2025-11-01 at 16:00 ET and closed at 1.376 on 2025-11-02 at 00:00 ET. Over the 24-hour period, the price surged to a high of 1.511 and dropped to a low of 1.353, creating a high-low range of 0.159. Total traded volume reached 68,449.98 USDC, while notional turnover totaled $101,059.24, assuming a 1 USDC = $1.00 rate.

Structure on the 15-minute chart reveals a strong bullish trend, particularly after 00:15 ET on 2025-11-02, when the price surged past 1.400. A bullish engulfing pattern formed at 1.411–1.462, confirming a shift in sentiment. Key support levels include 1.370, 1.363, and 1.353, with resistance at 1.416 and 1.445. The formation of a long upper shadow near 1.511 raises the possibility of a short-term reversal or consolidation.

Moving averages on the 15-minute chart show the price well above both the 20-period and 50-period SMAs, confirming a strong uptrend. On a daily basis, the 50, 100, and 200-day SMAs are not available due to the limited time frame, but the 20-period SMAs on the 15-minute chart remain supportive of the rally. Bollinger Bands show significant expansion, with the upper band touching 1.511 and the lower band at 1.353, reflecting increased volatility.

The RSI climbed to 70–75 in the final hours, indicating overbought conditions without a corresponding pullback, which may signal strong conviction among buyers. MACD remained positive throughout the rally, with a strong histogram peak at 0.032. The price remains near the upper Bollinger Band, suggesting that while volatility is high, the trend remains intact. A break above 1.476 could trigger further gains, but a retest of 1.376–1.382 is likely in the near term.

Backtest Hypothesis
A potential backtesting strategy involves entering long positions when RSI drops below 30 (oversold) and exiting when it rises back above 70. This could be tested using the ENSOUSDC pair from 2022-01-01 to 2025-11-02. During this period, RSI reached oversold conditions multiple times, with exits potentially capturing short-term rebounds. The high volatility and strong momentum suggest that this strategy may yield profits but requires tight stop-loss management due to the pair’s tendency for sharp reversals.