ENSUSDT Market Overview for 2025-09-11

• Price surged 6.3% in 24 hours, forming a bullish breakout above 24.12.
• Volatility spiked post-03:00 ET, with a massive 18,587-volume candle at 06:00 ET.
• RSI hit overbought territory, suggesting potential pullback.
• Bollinger Bands expanded significantly, confirming heightened volatility.
• Volume and turnover aligned with price action, confirming strength in upward move.

The Ethereum Name Service/Tether USDt (ENSUSDT) pair opened at $23.61 on 2025-09-10 at 12:00 ET and surged to a 24-hour high of $24.35. The price closed at $23.96 at 12:00 ET on 2025-09-11, reflecting a bullish bias. Total volume over the 24-hour period was 58,393.32, with a notional turnover of approximately $1,400,000 (calculated using average price of ~$24.05).

Structure & Formations

The 24-hour chart revealed a strong bullish impulse from ~$23.60 to a high of $24.35, with a key resistance forming around $24.35-24.50. A large bullish candle at 06:00 ET (amount = 18,587, high = $24.42) acted as a breakout bar confirming strength. A bearish engulfing pattern formed at 12:45 ET, signaling potential exhaustion in the upward move. Key support levels appear to be $24.00 and $23.75, with a doji at $23.96 indicating indecision.

Moving Averages and Momentum

The 20-period and 50-period moving averages on the 15-minute chart remained bullish, with price staying above both. On the daily chart, the 50-period MA crossed above the 100-period MA, signaling a medium-term bullish crossover. The MACD line remained positive with a narrowing histogram, suggesting momentum may be slowing. RSI reached 68–70 levels on multiple occasions, indicating overbought conditions, which may precede a correction or consolidation phase.

Bollinger Bands and Fibonacci Retracements

Bollinger Bands expanded significantly after 03:00 ET, reflecting increased volatility. Price moved near the upper band during the breakout, confirming strong bullish pressure. Fibonacci retracements drawn from the swing low at $23.60 and high at $24.35 showed key levels at $24.05 (61.8%) and $24.19 (50%), with price currently testing the 61.8% level. The 38.2% level at ~$24.12 acted as a psychological support, and price may test it again on pullback.

Volume and Turnover

Volume and turnover surged in coordination with the price action, especially during the 06:00–08:00 ET window. A notable 18,587 volume candle at 06:00 ET (high = $24.42) confirmed strength in the breakout. However, after 12:00 ET, volume began to decline despite continued sideways movement, suggesting a potential pause. The bearish engulfing pattern at 12:45 ET had strong volume (~58,393.32), indicating conviction in the pullback.

Backtest Hypothesis

Given the strong breakout followed by a bearish engulfing pattern, a potential backtest strategy could involve a long entry on the break of the 15-minute candle high at $24.12, with a stop-loss placed below the doji low at $23.96. The target could be aligned with the 24.35–24.50 resistance zone. Alternatively, a short entry could be triggered on the engulfing pattern close, targeting the 24.05 (Fib 61.8%) and 23.75 (key support). The strategy should incorporate a trailing stop to capture volatility without overexposure.