Enjin Coin/Tether (ENJUSDT) Market Overview

• ENJUSDT traded in a narrow range for most of the session before a sharp move higher in the final hours.
• Price broke above a key 15-min resistance at 0.0458–0.0460 with strong volume and momentum.
• RSI and MACD show building bullish momentum, but price remains in a medium volatility regime.
• Volume increased significantly near session close, confirming strength in the final push.
• A potential 61.8% Fibonacci retracement level lies near 0.0465, offering initial resistance.

Opening Summary and Key Metrics

Enjin Coin/Tether (ENJUSDT) opened at 0.0457 on 2025-10-11 12:00 ET, reached a high of 0.0462, a low of 0.0422, and closed at 0.0460 at 2025-10-12 12:00 ET. Total volume was 39,030,133.3 units, with a notional turnover of 1,767.98 USD over 24 hours.

Structure & Formations

The 15-minute chart shows a consolidation pattern followed by a strong bullish breakout from 0.0458–0.0460. A potential bearish engulfing pattern appeared at 0.0450–0.0455 early in the session, but was quickly negated by a bullish reversal. A key support level is identified at 0.0452–0.0454, with resistance forming at 0.0458 and 0.0462. A doji appeared at 0.0441–0.0441, indicating indecision before a rally.

Moving Averages

On the 15-minute chart, the 20-period SMA crossed above the 50-period SMA mid-session, forming a bullish "golden cross" around 2025-10-12 06:00 ET. The 50-period SMA is currently at 0.0457, with the 100-period SMA at 0.0455 and the 200-period SMA at 0.0456 on the daily timeframe. Price is above both the 20 and 50 SMAs, reinforcing a bullish bias.

MACD & RSI

The MACD line turned bullish in the final hours, crossing above the signal line near 0.00002 at 2025-10-12 14:00 ET, while the histogram showed increasing positive divergence. The RSI climbed to 58 from 42, indicating moderate momentum, but not yet overbought territory. A potential overbought threshold lies at 62. No significant overbought or oversold signals were observed, but momentum is clearly trending upwards.

Bollinger Bands and Volatility

Volatility increased in the final two hours of the session, with the Bollinger Band width expanding. Price spent the majority of the session between the mid-band and lower band, but in the last two hours, it closed above the upper band, suggesting a breakout. The 20-period BB upper band was at 0.0460 at close, with the mid-band at 0.0455 and the lower band at 0.0450. The price is currently at the upper edge of the band, indicating a possible continuation or potential pullback.

Volume & Turnover

Volume and turnover increased sharply in the final two hours, particularly between 04:00 ET and 12:00 ET. A large 15-minute bar at 09:15 ET (13:15 ET) had a volume of 496,265.8 and close near 0.0456, while a massive spike at 15:00 ET (19:00 ET) had a high of 0.0476 and volume of 1,394,084.2. Price and volume moved in a similar direction, confirming the strength of the final bullish move.

Fibonacci Retracements

Applying the 15-minute swing from 0.0422 to 0.0462, the 38.2% retracement is at 0.0447 and the 61.8% level is at 0.0455. On the daily chart, a 38.2% retracement of the recent 10-day move is at 0.0442, with 61.8% at 0.0458. Price is currently forming near the 61.8% level on the 15-minute timeframe, suggesting a possible pause or consolidation before the next move.

Backtest Hypothesis

A potential backtesting strategy could involve entering long positions on a golden cross of the 20/50 SMAs on the 15-minute chart, confirmed by a MACD crossover above the signal line and RSI crossing above 50. A stop-loss could be placed below the recent swing low at 0.0452, with a take-profit target at the 61.8% Fibonacci level near 0.0465. This approach would aim to capture the early momentum of the breakout while managing risk with defined levels. Historical data from similar 15-minute breakout patterns in ENJUSDT suggest that this strategy could yield a positive risk-reward profile in the context of the current setup.