Market Overview for Enjin Coin/Tether (ENJUSDT) – 2025-09-17

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• ENJUSDT oscillated between $0.0687 and $0.0703, closing near key psychological level after a consolidation phase.
• Positive momentum emerged in the final hours, with RSI showing signs of upward reversal after a bearish divergence.
• Volatility surged overnight with strong turnover, suggesting potential trend reversal or continuation.
• Key support at $0.0695 and resistance at $0.0701 formed a tight range, with price favoring lower half during early hours.
• Bollinger Bands showed a period of contraction followed by expansion, indicating a potential breakout scenario.

Enjin Coin/Tether (ENJUSDT) opened at $0.0691 on 2025-09-16 12:00 ET and reached a high of $0.0703 before settling at $0.0698 at 12:00 ET on 2025-09-17. The 24-hour volume was 10,165,636.2 with a notional turnover of $704,202. The price action showed a narrow range with key levels defining a potential breakout scenario.

Structure & Formations

Price action revealed a clear consolidation pattern between $0.0695 and $0.0701, with several doji and small bodies forming near the upper and lower bounds. A strong bullish engulfing pattern emerged during the 2025-09-17 02:00–02:15 ET window, indicating a possible reversal. Support at $0.0695 and resistance at $0.0701 were tested multiple times, with price favoring the lower half of the range during early trading hours.

Moving Averages

On the 15-minute chart, the 20-period MA and 50-period MA formed a bullish crossover at around $0.0696. The 50-period MA remained slightly above the 100-period MA on the daily chart, suggesting a potential continuation of the recent bullish bias. Price was trading above the 200-period MA, indicating a long-term bullish bias.

MACD & RSI

MACD crossed above the signal line around 2025-09-17 03:00 ET, signaling positive momentum. RSI reached an overbought level of 70 during the 02:45–03:00 ET window, followed by a sharp decline suggesting bearish divergence. This divergence may signal a potential reversal unless RSI can retest and confirm the overbought level.

Bollinger Bands

Bollinger Bands showed a brief period of contraction during the 01:30–02:15 ET window, followed by a significant expansion. Price traded within the band for most of the period, closing near the upper bound during the breakout phase. This indicates increased volatility and potential trend extension.

Volume & Turnover

Volume spiked significantly during the 02:45–03:30 ET window, confirming the upward move. Notional turnover reached a peak of $313,859 during the 02:45–03:00 ET window. Divergence between volume and price was observed in the later part of the session, suggesting a potential pullback or consolidation.

Fibonacci Retracements

Fibonacci levels were applied to the recent 15-minute high at $0.0703 and low at $0.0687. The 61.8% retracement level at $0.0695 was tested multiple times and held, while the 38.2% level at $0.0698 was a key consolidation point. Daily Fibonacci levels from the broader $0.0691 to $0.0703 range also showed support at $0.0695 and resistance at $0.0701.