Enso/USDC Market Overview – 24-Hour Technical Breakdown

• ENSOUSDC surged from $1.613 to a peak of $2.74 before retracing to $2.005, forming a volatile 24-hour range.
• Bullish momentum waned after midday, with bearish pressure evident in late-day consolidation and declining RSI.
• Volume spiked dramatically during the midday rally (peaking at $343,746.30 in turnover), but waned in late trading.
• Key support appears at $1.91–1.93 after multiple bounces, with $2.27–2.30 forming critical resistance.
• A Morning-Star-like reversal emerged post-noon, suggesting a potential near-term rebound, though momentum remains fragile.

Enso/USDC (ENSOUSDC) opened at $1.613 on 2025-10-28 at 12:00 ET and climbed to an intraday high of $2.74 at 08:45 ET, before retreating to a 24-hour close of $2.005. Total volume over 24 hours was 5,006,782.87, with notional turnover of $9,606,067.78. The pair exhibited sharp volatility, forming key support and resistance levels that reflect ongoing bullish and bearish contesting.

Over the 24-hour period, ENSOUSDC oscillated between $1.613 and $2.74, with a clear shift in sentiment occurring around 12:00 ET (Oct 29). Price briefly tested $2.74 with high-volume buying, but failed to hold above $2.413, suggesting short-term resistance. A key Morning-Star-like reversal formed between $1.934 and $2.005 after noon, indicating potential for a counter-trend bounce. However, RSI remains in neutral to overbought territory, suggesting caution for further upside.

Support levels at $1.91–1.93 and $1.867–1.895 have held multiple times, with the 20-period 15-min MA currently at $1.985, just below the close. The 50-period 15-min MA lags at $2.03, indicating a bearish bias in the short term. Bollinger Bands show a moderate contraction in volatility after 14:00 ET, suggesting a potential breakout or reversal could be imminent. Fibonacci retracement levels from the $1.613–$2.74 swing show $2.15 and $1.99 as key psychological levels to watch in the coming hours.

The RSI has seen a notable pullback from overbought territory (75) to neutral (58) by the close, signaling possible exhaustion in the recent rally. MACD has crossed into positive territory but with a narrowing histogram, indicating weakening bullish momentum. Volume has been concentrated in the midday rally but has since declined, with recent price action showing a divergence between price and volume. This divergence may hint at a potential reversal or consolidation phase ahead, especially if key support at $1.91–1.93 holds.

Backtest Hypothesis

To validate potential trading setups, a backtest based on the Morning-Star candlestick pattern could be developed using ENSOUSDC’s 15-min data. The pattern was visible post-noon as price bottomed around $1.934 and closed at $2.005, suggesting a possible reversal. A practical backtest would need to confirm the correct ticker symbol and data source, as well as whether to use open, close, or intraday prices for entry and exit. Including a fixed three-day exit or additional risk controls like a stop-loss or take-profit would help refine the strategy for realistic performance evaluation. With the correct parameters, a full backtest from Jan 1, 2022, through today could provide insights into the pattern’s viability on this volatile pair.