Market Overview for Enso/USDC (ENSOUSDC) on 2025-11-11

Summary
• Enso/USDC opened at 1.13 and closed at 1.053 over 24 hours, with a high of 1.174 and a low of 1.05.
• Price action saw a significant selloff in the early hours, followed by consolidation in the midday.
• Total volume was 236,663.94 with a turnover of $250,041.26, showing uneven activity with sharp dips.

Structure & Formations

Enso/USDC (ENSOUSDC) opened at 1.13 and dropped sharply to a low of 1.05 in the early hours, forming a bearish continuation pattern as price settled below key support levels. Notable bearish patterns include a dark cloud cover and a bearish engulfing pattern in the 4–6 AM ET timeframe. A key support appears to be forming near 1.05–1.06, with potential resistance reappearing at 1.13–1.14 in the latter part of the day.

Moving Averages

On the 15-minute chart, price closed below both the 20-period and 50-period moving averages, suggesting continued bearish momentum in the short term. The 200-period daily moving average is currently at around 1.13–1.14, placing the current price well below the long-term trend line. The 50-period MA on the daily chart is also above the current price level, reinforcing the downtrend.

MACD & RSI

The MACD turned negative by the late morning and remained below the signal line throughout the day, indicating bearish momentum. RSI fell into oversold territory multiple times, hitting as low as 25 in the 6–7 AM ET window, which is typically a sign of a potential reversal or pause in the decline. However, price did not rebound strongly, suggesting weak conviction in buyers.

Bollinger Bands

Bollinger Bands show a clear widening in volatility between 1–4 AM ET as price broke down past 1.10 and approached the 1.05 level. The bands remain wide, indicating sustained volatility. Price remains near the lower band for much of the day, consistent with the bearish narrative.

Volume & Turnover

Volume spiked during the early morning selloff, with a notable block of 42,504.53 units traded at 5:45 PM ET. Turnover spiked as well during that same period, reaching a 24-hour high of $49,500 in one 15-minute candle. Divergences between price and volume appear limited, but the large sell volumes in early hours confirm the bearish breakout.

Fibonacci Retracements

Key Fibonacci levels from the recent 15-minute swing high (1.174) to the swing low (1.05) suggest 61.8% support at 1.073 and 38.2% at 1.113. The price closed near the 61.8% retracement level, suggesting a temporary pause but not a reversal. On the daily chart, 38.2% and 61.8% levels correspond to critical support/resistance areas that will be key to watch in the next 24 hours.

Backtest Hypothesis

The RSI-oversold (RSI < 30) 3-day-holding strategy tested from 2022-01-01 to 2025-11-10 produced a total return of +2.27% with an annualized return of 30.42%, indicating a robust mean-reversion setup in ENSO/USDC. While the strategy has shown positive results historically, the recent 24-hour drop into oversold territory did not trigger a strong bounce, highlighting the need for additional filters such as volume confirmation or price pattern validation. Investors may consider refining the strategy by integrating Bollinger Band width or Fibonacci support levels to enhance entry timing.