Market Overview: Ethereum Name Service/Tether (ENSUSDT) 24-Hour Summary

• ENSUSDT surged to $22.32 before consolidating amid mixed volume flows.
• A bearish reversal formed around 19:00 ET, signaling potential near-term caution.
• RSI showed overbought readings, while volume spiked sharply during the afternoon push.
• Price tested a 21.97–22.04 consolidation range, with volatility rising through Bollinger expansions.
• Key support at 21.70 and resistance at 22.10 remain critical for direction.

Ethereum Name Service/Tether (ENSUSDT) opened at $21.77 on 2025-10-03 at 12:00 ET and peaked at $22.32 during the session before closing at $21.97 on 2025-10-04 at 12:00 ET. The 24-hour period saw a high of $22.32, a low of $21.53, and total volume of 94,698.17 with a notional turnover of $2,049,481.53.

The 15-minute OHLCV data reveals a bullish afternoon push from 16:00–18:30 ET, driven by a volume spike of 20,022.43 at 17:15 ET, followed by a bearish reversal and pullback. The structure formed a potential bearish engulfing pattern around 19:00 ET, where price fell below a key consolidation zone. Key support levels include 21.70 and 21.60, while resistance is seen at 22.10 and 22.32. A doji at 21.97–21.97 (19:15 ET) and a bullish pin at 21.85–22.04 (19:30 ET) suggest indecision and a possible retest of these levels.

The 20-period and 50-period moving averages on the 15-minute chart crossed above the price action during the bullish phase but began to flatten after the 19:00 ET reversal. The daily chart shows ENSUSDT still above its 50- and 100-period SMAs, suggesting a longer-term bullish bias. MACD turned bearish in the final hours, with a bearish crossover and declining histogram, while RSI peaked at 67–69 during the afternoon rally, signaling overbought conditions. Bollinger Bands expanded during the push toward 22.32, with price closing near the upper band, suggesting elevated volatility and a potential reversal or consolidation period.

A Fibonacci retracement on the 15-minute swing from 21.53 to 22.32 shows 21.97 (38.2%) and 21.77 (61.8%) as key levels of interest. The volume profile confirms the bullish push but diverges with price during the 19:00–21:45 ET consolidation, hinting at potential exhaustion. Price may retest the 21.70–21.75 support zone before resuming a test of 22.10–22.32. Investors should remain cautious of potential bearish momentum and overbought conditions, as a breakdown below 21.70 could shift sentiment.

Looking ahead, traders should monitor the 21.70 support and 22.10 resistance levels for directional clues. A breakout above 22.10 could see a retest of 22.32, while a breakdown below 21.70 could trigger a deeper correction. Volatility remains elevated, and while bullish momentum is intact on the daily chart, the 15-minute structure suggests near-term uncertainty.

Backtest Hypothesis
The backtesting strategy focuses on capturing short-term momentum reversals using a combination of RSI (14), MACD (12, 26, 9), and volume divergences. The approach assumes that overbought RSI levels (>65) and bearish MACD crossovers signal a high probability of a short-term pullback, particularly when confirmed by a divergence in volume. Given today’s data, the 19:00 ET bearish engulfing pattern and divergent volume during the 19:00–21:45 ET consolidation align with the hypothesis. A potential sell signal was triggered at 21.97–21.85, with a stop above 22.06 and a target near 21.70. While the pullback was confirmed, the strategy could be tested further over the next 24 hours as price nears key levels. A successful outcome may validate the approach for similar setups in volatile altcoin pairs like ENSUSDT.