Market Overview for Ethereum Name Service/Tether (ENSUSDT)

Summary
• Price action formed a bearish engulfing pattern after testing 9.73 as a potential overhead resistance.
• RSI moved into overbought territory mid-day before retreating, suggesting momentum exhaustion.
• Volume surged during a 9.54–9.71 swing, confirming the recent price swing but showing weakening follow-through.
• Bollinger Bands expanded in the afternoon, indicating rising volatility and a possible breakout attempt.
• Fibonacci retracement levels at 9.59 and 9.66 appear to have acted as dynamic support and resistance, respectively.

Ethereum Name Service/Tether (ENSUSDT) opened at 9.67 on 2025-12-29 at 12:00 ET, reached a high of 9.73, and closed at 9.65 at 12:00 ET on 2025-12-30, with a low of 9.50. Total volume amounted to 77,921.91, and notional turnover reached 738,739.33.

Structure & Key Levels

The price action showed a bearish engulfing pattern near 9.73, signaling potential short-term weakness. The 9.65–9.66 zone appears to be a short-term support area, reinforced by multiple bounces and Fibonacci levels. A breakdown below 9.60 could trigger a test of 9.50, a key prior floor.

Momentum and Indicators

RSI briefly entered overbought territory during the mid-day rally but failed to sustain above 70, indicating waning bullish momentum.

The MACD remained bearish, with a negative crossover and a weak positive histogram peak at midday.

Volatility and Volume

Bollinger Bands widened significantly in the afternoon, suggesting rising volatility and the possibility of a breakout. Volume surged during the 9.54–9.71 swing, confirming the price action, but follow-through volume has weakened, hinting at diverging conviction.

Looking ahead, the market may consolidate near 9.65 before testing either 9.73 to the upside or 9.50 to the downside. Traders should remain cautious of potential whipsaw action if volume does not confirm further directional bias.