Market Overview for Ethereum Name Service/Tether (ENSUSDT)

Summary
• Price tested key resistance at $10.28, then reversed lower, forming a bearish engulfing pattern.
• RSI entered overbought territory mid-session before dropping, suggesting momentum reversal.
• Volume spiked during the morning ET rally but failed to confirm a bullish breakout.
• Price found support near $10.01 and bounced, forming a bullish hammer with strong volume.
• Volatility expanded with a Bollinger Band breakout in the early hours, followed by contraction.

Ethereum Name Service/Tether (ENSUSDT) opened at $10.08 on 2026-01-02 12:00 ET, reached a high of $10.31, and closed at $10.03 by 2026-01-03 12:00 ET, with a low of $9.91. Total volume was 42,225.34, and notional turnover reached $426,824.20.

Structure & Formations

The session saw a bearish reversal after a failed attempt to break $10.28, marked by a large bearish engulfing pattern. A bullish hammer formed near the session low at $10.01, indicating short-term support. A failed rally to $10.31 led to a pullback, reinforcing the $10.24–10.22 range as a key resistance cluster.

Moving Averages

Price briefly pierced above the 50-period and 20-period 5-min moving averages but failed to sustain above the 50-period line, suggesting weakening momentum. On the daily chart, the 50-period MA at ~$10.15 provided moderate support during the afternoon rebound.

MACD & RSI

The RSI peaked near 75 early in the session before retreating, signaling overbought conditions and a potential pullback. MACD crossed below the signal line during the afternoon sell-off, aligning with bearish momentum. Divergence between price and RSI during the morning rally hinted at weakening bullish conviction.

Bollinger Bands

Volatility spiked in the early morning hours, with price breaking above the upper band, but this expansion was quickly followed by a contraction. Price currently resides near the lower band, suggesting potential for a rebound, though bearish momentum remains intact.

Volume & Turnover

Volume surged during the morning rally to $10.31, with a notable increase in turnover, but faded during the afternoon sell-off. This divergence suggests a lack of follow-through buying interest. The bullish hammer at $10.01 had moderate volume, reinforcing the significance of that support level.

Fibonacci Retracements

On the 5-min chart, the $10.24–10.28 swing saw a 61.8% retracement at $10.13–10.12, where the price paused before continuing lower. Daily Fibonacci levels suggest $10.05 as a shallow retracement and potential short-term floor.

In the next 24 hours, a test of $10.01 support will be key for near-term direction. A break below could target $9.85–9.90. Traders should remain cautious for a possible bounce but manage risk if the $10.15–10.22 resistance cluster holds.