Market Overview: Ethereum Name Service/Tether (ENSUSDT) – 24-Hour Technical Summary (2025-11-01)

• ENSUSDT declined to 14.52 before rebounding and closing near 14.96.
• A 24-hour range of $0.49 reflects moderate volatility with price consolidation in the latter half.
• Strong volume surges at 14.52–14.96 suggest accumulation and possible breakout pressure.
• RSI approached overbought territory while MACD remained positive, indicating bullish momentum.
• Bollinger Bands widened post-19:00 ET, showing increased volatility and potential for a breakout.

Ethereum Name Service/Tether (ENSUSDT) opened at $14.78 on 2025-10-31 at 12:00 ET and closed at $14.96 on 2025-11-01 at 12:00 ET. The pair touched a low of $14.52 and a high of $15.0. Total traded volume amounted to 42,672.03 units, with notional turnover reaching $635,534.06 over the 24-hour period. Price activity showed a bearish reversal early in the session followed by a strong bullish push late into the day.

Structure & Formations

The 24-hour OHLCV data reveals a distinct bearish reversal in the first four 15-minute intervals, with a 14.78 to 14.52 drop. A strong bullish response followed, with price rising above 14.90 by 09:00 ET and breaking key resistance at 14.96. Notable candlestick patterns include a bullish engulfing pattern at 14.82–14.86 and a morning star formation at 14.74–14.79, suggesting accumulation and potential trend reversal.

Moving Averages

On the 15-minute chart, the 20-period MA and 50-period MA crossed below the price early in the session, reinforcing the bearish move. However, the price quickly moved back above both moving averages by 19:00 ET, with the 50-period MA acting as dynamic support. On the daily chart, the 50-period MA sits at ~14.80, the 100-period at ~14.75, and the 200-period at ~14.65. The current price above all three suggests a short-term bullish trend.

MACD & RSI

The 12–26–9 MACD turned positive after 19:00 ET, with a strong bullish crossover and expanding histogram, reinforcing the late-session upward momentum. RSI climbed to 68–70 by 11:00–12:00 ET, indicating mild overbought conditions. While not extreme, it suggests caution for further upward moves unless RSI crosses 75. MACD and RSI appear aligned with the price action, indicating strong momentum but not yet overextended.

Bollinger Bands

Volatility expanded after 19:00 ET, with the upper Bollinger Band reaching 15.0 and the lower touching 14.52. Price remained well above the 20-period MA within the upper band, indicating a strong bullish bias. The expansion suggests increased market participation and potential for a breakout or continuation move.

Volume & Turnover

Volume surged during the 19:00–23:00 ET window as price moved between 14.52 and 14.90. The peak volume occurred at 18:45–19:00 ET, with a total of 5,799.85 units traded, coinciding with a strong price rebound. Turnover also spiked during this time, reaching $85,000+ at 19:45–20:00 ET. No significant divergence was noted between price and volume, indicating strong conviction behind the upward move.

Fibonacci Retracements

Applying Fibonacci to the 14.52–15.0 swing, key retracement levels include 14.79 (38.2%), 14.74 (50%), and 14.69 (61.8%). The 14.74–14.79 zone saw consolidation before the breakout, suggesting these levels acted as support. On the daily chart, 14.80–14.90 is a key cluster of 38.2% and 50% retracement levels, with price currently near the 76.4% level, indicating possible exhaustion of the current move.

Backtest Hypothesis

For the backtest strategy, define a “Resistance-Level” event as price touching the prior 30-day high. This approach aligns with the observed behavior on 2025-11-01, where ENSUSDT broke through the 14.90–15.0 resistance cluster—historically a key psychological level. Testing this rule over the period from 2022-01-01 to 2025-11-01 would involve identifying all instances where price touched the prior 30-day high and evaluating the subsequent price action for potential trend continuation or reversal patterns. This event-based strategy could be optimized using trailing stops or Fibonacci targets for exits.