Market Overview for Enjin Coin/Tether (ENJUSDT) – 2025-09-18

• Price for ENJUSDT rose from 0.0684 to 0.0718, showing a bullish bias in last 24 hours.
• High momentum noted after 19:00 ET with RSI reaching overbought levels near 70.
• Bollinger Bands widened in the last 6 hours, signaling increased volatility.
• Volume surged in late ET hours, aligning with price rally — confirming strength.
• No significant bearish divergences observed, though consolidation near 0.0718 may trigger pullback.

Opening and Price Range

Enjin Coin/Tether (ENJUSDT) opened at 0.0684 on 2025-09-17 at 12:00 ET and closed at 0.0718 on 2025-09-18 at 12:00 ET. The 24-hour high was 0.0720, and the low was 0.0678. Total traded volume was approximately 8,901,141.5 ENJ, with a notional turnover of $629,391.

Structure & Formations

Price moved in a strong bullish trend post-17:00 ET, with several higher highs and higher lows forming a positive bias. Key resistance levels emerged near 0.0718 and 0.0720, with 0.0696 acting as a psychological support level. A notable engulfing pattern formed at 19:45 ET, signaling a bullish reversal from earlier bearish pressure.

Support and Resistance Levels

- Support: 0.0696, 0.0685
- Resistance: 0.0718, 0.0720
- A doji appeared at 04:30 ET, suggesting indecision and potential consolidation.

Moving Averages and Momentum

On the 15-minute chart, the 20-period MA (0.0703) and 50-period MA (0.0707) both crossed below the current price, reinforcing bullish momentum. For the daily timeframe, the 50-period MA is at 0.0701, the 100-period MA at 0.0697, and the 200-period MA at 0.0686, all supporting a long-term upward trend.

MACD and RSI

The MACD histogram turned positive after 19:00 ET, with the fast line above the slow line and the zero line, confirming bullish momentum. The RSI reached 70–72 late in the session, indicating overbought conditions, but without bearish divergence, suggesting continuation is likely.

Volatility and Bollinger Bands

Bollinger Bands expanded significantly after 19:00 ET, with the upper band reaching 0.0720. The price closed near the upper band, indicating high volatility. A contraction in band width was observed earlier, suggesting a potential breakout that did materialize.

Volume and Turnover Analysis

Volume surged to over 631k at 20:15 ET, with turnover exceeding $44,400. This aligns with the price breakout and confirms strength. However, a drop in volume after 05:00 ET suggests some profit-taking. No bearish divergence observed between price and volume.

Fibonacci Retracements

The last 15-minute swing from 0.0683 (02:45 ET) to 0.0718 (05:00 ET) shows key Fibonacci levels at 38.2% (0.0706) and 61.8% (0.0711). Price is currently testing 61.8%, which could offer resistance or a consolidation point. On the daily chart, a retest of 0.0701 (38.2%) may trigger further upward movement.

Backtest Hypothesis

A potential backtesting strategy could involve entering long positions on a close above the 20-period MA (0.0703) and exiting on a close below the 50-period MA (0.0707), with a stop-loss at 0.0701 and a take-profit at 0.0720. This aligns with the observed bullish structure and MACD confirmation, leveraging the current trend while managing risk via well-defined exits.

Forward-Looking View and Risk Caution

The next 24 hours may see consolidation near 0.0718–0.0720, with a potential pullback to test 0.0707–0.0701 if volume declines. A break above 0.0720 could signal continuation, while a drop below 0.0711 may indicate a short-term correction. Investors should watch for bearish divergences in the RSI or volume and consider trailing stops above 0.0715 to protect gains.