Market Overview: Enjin Coin/Tether (ENJUSDT) – October 13, 2025, 24-Hour Technical Summary

• ENJUSDT traded in a tight range early before a sharp breakout to 0.0525, followed by consolidation and a pullback toward 0.0512.
• Volume spiked during the peak at 0.0525, indicating strong buying pressure, but recent turnover has declined with sideways price action.
• A bullish trend appears to be in place, though bearish divergence in volume suggests caution for near-term buyers.
• RSI indicates overbought conditions at 73, suggesting potential for a pullback or consolidation.
• Price is trading above key 20- and 50-period moving averages on the 15-minute chart, reinforcing a short-term bullish bias.

24-Hour Price Summary

Enjin Coin/Tether (ENJUSDT) opened at $0.0482 on October 12 at 12:00 ET and traded as high as $0.0525 during the session. It closed at $0.0513 on October 13 at 12:00 ET, with a low of $0.0481. The pair saw a total volume of 14.4 million ENJ and a notional turnover of approximately $733,500 over the 24-hour period.

Structure & Formations

The 15-minute chart shows a clear bullish breakout from a consolidation range into the early hours of October 13, followed by a retest of key support levels around $0.0512–$0.0514. A notable bearish divergence in volume appeared after the peak at $0.0525, indicating potential profit-taking or bearish exhaustion. A potential "Bullish Engulfing" pattern formed around 08:45 ET, which helped drive price higher, while a "Bullish In-Neck" pattern later in the session suggested a possible pause in the uptrend.

Moving Averages

The 15-minute chart shows price trading above both the 20- and 50-period SMAs, reinforcing a short-term bullish bias. On the daily chart, price remains above the 200-day SMA but has dipped slightly below the 50-day SMA, indicating mixed signals between medium- and long-term trends.

MACD & RSI

The MACD has turned positive, with a narrowing histogram showing declining momentum after the breakout. RSI is currently at 73, indicating overbought conditions and the potential for a near-term pullback or consolidation phase.

Bollinger Bands

Volatility has expanded significantly following the breakout, with price reaching the upper band at $0.0525. Since then, price has settled closer to the middle band, with the lower band acting as a dynamic support level between $0.0512 and $0.0507.

Volume & Turnover

Volume surged during the breakout and subsequent retests, with the highest 15-minute volume recorded at 1.6 million ENJ during the 08:45–09:00 ET window. Notional turnover reached a 24-hour high of $10.2 million. However, volume has since decreased, indicating potential exhaustion. A divergence between price and volume during the consolidation phase suggests caution for further upside.

Fibonacci Retracements

Key Fibonacci levels on the 15-minute chart are currently aligning with recent price action. The 38.2% retracement level at $0.0516 has acted as a minor support zone, while the 61.8% level at $0.0513 is the immediate support. On the daily chart, the 61.8% retracement of the recent bearish leg is at $0.0505, which could become a critical level in the next 24–48 hours.

Backtest Hypothesis

Given the presence of bullish candlestick patterns such as the Bullish Engulfing and In-Neck, a backtest using these signals could provide insight into potential entry and exit points. A holding period of 3 days, with stop-loss and take-profit levels aligned to Fibonacci and moving average levels, may help quantify the strategy's viability. Once the interface supports crypto pattern signals, a more accurate test can be conducted to refine this approach.