Market Overview for Ethereum Name Service/Tether (ENSUSDT) as of 2025-10-01

• ENSUSDT surged past 20.70, reaching 20.85, signaling a strong bullish bias amid increased volume.
• A key support zone between 19.85–19.93 was decisively broken in early hours, opening bearish short-term potential.
• RSI hit overbought territory near 75, suggesting possible near-term profit-taking or reversal.
• Volatility expanded significantly with Bollinger Bands widening, indicating a high-energy price phase.
• Fibonacci levels suggest critical resistance at 20.85 and support at 20.51 for near-term directionality.

Ethereum Name Service/Tether (ENSUSDT) opened at 19.92 on 2025-09-30 12:00 ET, surged to a high of 20.85, dipped to a low of 19.62, and closed at 20.64 as of 2025-10-01 12:00 ET. Total volume reached 245,349.99, with notional turnover of 4,960,645.60, indicating strong market participation and mixed sentiment across the 24-hour period.

Structure & Formations

Price carved a bullish continuation pattern in the early part of the day, with a strong 15-minute bullish engulfing pattern forming at 20.49–20.71 on 09:15 ET. A key support zone between 19.85–19.93 was tested and broken, with a bearish pinbar forming at 19.86 on 06:15 ET. A subsequent bullish rebound formed a potential counter-trend reversal, but failed to hold at 20.51. Resistance levels emerged at 20.71, 20.85, while support levels were identified at 20.51, 20.38.

Moving Averages

On the 15-minute chart, the 20SMA crossed above the 50SMA in the morning, confirming bullish momentum. The 50-period MA at 20.54 and the 20-period MA at 20.61 suggest a bullish bias, with price currently above both. For the daily timeframe, the 50DMA at 20.40 and 100DMA at 20.30 are below the current price, suggesting a positive trend. The 200DMA at 20.15 remains key for longer-term positioning.

MACD & RSI

MACD turned positive early in the morning and held above zero for most of the session, confirming bullish momentum. The histogram expanded during the 09:00–10:15 ET window, signaling strong buying pressure. RSI surged to 75 late morning and remained near overbought territory, suggesting potential for profit-taking or a pullback in the short term. However, divergence between price and RSI was not observed, indicating solid conviction in the move higher.

Bollinger Bands

Volatility increased significantly during the session, with Bollinger Bands widening from a range of 0.08 to 0.21 by mid-day. Price traded above the upper band for extended periods, especially during the 09:15–10:30 ET window, indicating strong bullish pressure. By late afternoon, price retracted to the lower band, suggesting a potential near-term consolidation phase before the next directional move.

Volume & Turnover

Volume spiked sharply at 09:00 ET during the breakout from the 20.49 level, with a 15-minute notional turnover of 370,493.50. Another large volume spike followed at 09:15 ET, with turnover of 349,911.10, confirming the bullish breakout. However, during the late afternoon, volume declined to average levels, suggesting reduced conviction in the rally. No significant divergence was observed between price and volume, indicating a relatively healthy move higher.

Fibonacci Retracements

Applying Fibonacci to the 19.62–20.85 swing, 61.8% retracement sits at 20.37, while 38.2% retracement is at 20.51. These levels could act as support if a pullback occurs. On the daily timeframe, a larger swing from 19.46 to 20.85 is in play, with 61.8% at 20.19 and 38.2% at 20.44, both of which may serve as near-term pivots. Traders may watch for price reactions at these levels as potential entry or exit points.

Backtest Hypothesis

The observed bullish breakout at 20.49–20.71 and strong volume confirmation suggest a potential entry strategy for long positions. A backtest using a 15-minute chart could include a setup where price breaks above the 20SMA with a close above 20.71 and volume exceeding 10,000. A stop loss could be placed below the 20.51 support level, with a target at 20.85 and 20.98 as the next Fibonacci extension. This strategy could be refined using historical data from similar 15-minute swings to evaluate win rate and risk/reward ratio.