Market Overview for Enzyme/Tether (MLNUSDT): Volatile Bullish Momentum with Key Levels in Focus

Summary
• Price surged above 5.04, forming bullish engulfing patterns before consolidating.
• Volume spiked near 5.07, confirming strength, but diverged slightly after 5.06.
• RSI reached overbought levels above 70, hinting at possible pullbacks.
• Bollinger Bands widened, indicating increased volatility into the 5.07–5.03 range.
• 20-period MA crossed above price in the last 2 hours, suggesting possible continuation.

Enzyme/Tether (MLNUSDT) opened at 4.99 on December 12, 2025, and reached a high of 5.12 before closing at 5.04 at 12:00 ET on December 13. Total volume for the 24-hour period was approximately 62,343.55 units, with notional turnover amounting to $313,538. The pair displayed a strong upward trend amid increasing volatility.

Structure & Key Levels

Price action formed a bullish breakout above the 5.04 resistance, confirmed by an engulfing pattern on the 5-minute chart. A significant high at 5.12 and pullback to 5.04 created a 61.8% Fibonacci retracement level. The 5.02–5.07 range emerged as a key consolidation zone, with 5.04 acting as a short-term support.

Momentum and Indicators

The RSI climbed above 70 into overbought territory, suggesting a potential near-term correction. MACD showed a positive divergence with bullish momentum holding steady for over 4 hours. On the 20-period MA, price crossed above the average in the last 2 hours, signaling a short-term bullish bias.

Volatility and Volume Behavior

Bollinger Bands expanded significantly during the push to 5.12, reflecting heightened volatility. A sharp volume spike occurred during the 5.07–5.12 move, confirming strength, but volume declined after 5.07, suggesting a test of conviction. Notional turnover surged during the 03:45–04:00 ET candle with a 11,108-unit trade at 5.07–5.03.

Future Outlook and Risk

The 5.04–5.06 range is critical for near-term direction; a break above 5.07 could target 5.10, while a retest of 5.03 may trigger a short-term pullback. Investors should watch for divergence in RSI and volume to confirm momentum sustainability. A sharp drop below 5.02 could signal caution.