Enzyme/Tether (MLNUSDT) Market Overview: 24-Hour Analysis for 2025-09-25

• MLNUSDT dropped 9.4% in 24 hours, closing at 7.21 with a low of 7.08 amid heavy bearish volume.
• Notable breakdown below 7.30 triggered a test of key support at 7.25 and confirmed bearish momentum.
• RSI and MACD signaled oversold conditions, but price failed to rebound, suggesting weak conviction.
• Bollinger Band contraction early in the session followed by expansion highlights increased volatility.
• Heavy volume during the 12:30 ET sell-off suggests institutional participation and potential short-term continuation.

Enzyme/Tether (MLNUSDT) opened at 7.40 on 2025-09-24 at 12:00 ET and closed at 7.21 on 2025-09-25 at the same time. The 24-hour session recorded a high of 7.44 and a low of 7.08. Total trading volume reached 22,615.13, with notional turnover amounting to ~$164,032, reflecting increased volatility and bearish pressure.

The 15-minute OHLCV data reveals a consistent breakdown from key resistance at 7.35–7.40, failing to retest the zone after an initial bounce. A bearish engulfing pattern emerged on the 18:45–19:00 ET 15-minute candle, signaling a shift in sentiment. A large bearish candle at 03:30–03:45 ET (open: 7.40, close: 7.30) marked a critical turning point. The price has been consolidating near the 7.20–7.25 support area, which could see a breakout or rejection in the next 24 hours.

Bollinger Bands indicate a volatility contraction during the early hours of the session, followed by expansion after the breakdown. Price settled near the lower band, consistent with oversold conditions. The 20-period moving average on the 15-minute chart dipped below 7.30, supporting the bearish bias. The 50-period line crossed bearish as well, reinforcing the downward trend. On the daily chart, the 50-period MA (7.38) and 200-period MA (7.45) suggest a broader bearish setup as the price remains below both key averages.

The RSI has fallen into oversold territory at ~28, but a failure to rebound above 50 indicates a lack of immediate bullish conviction. MACD remains in negative territory with a bearish crossover, pointing to ongoing selling pressure. Divergence between price and RSI is not present, so the bearish signal is reinforced rather than contradicted. Volume is elevated during the 12:30–13:00 ET sell-off, suggesting possible accumulation or short-term continuation. No significant bullish reversal patterns have emerged yet.

Fibonacci retracements from the 7.44 high to 7.08 low place 7.25 at the 61.8% level, which now acts as a key support. A break below 7.25 could extend the move to 7.18–7.15, the 78.6% and 100% levels. A rally from 7.25 may find resistance at 7.35 (38.2%) and 7.40 (23.6%), where traders may encounter selling pressure. These levels are critical for short-term direction.

The next 24 hours could see a test of 7.25 if bears maintain control, or a short-term bounce if bulls gather strength. However, given the current momentum and volume profile, a continuation of the downward trend is more likely. Investors should remain cautious, especially with Fibonacci support and Bollinger Band levels aligning near 7.25.