Enjin Coin/Tether (ENJUSDT) Market Overview

Generated by AI AgentAinvest Crypto Technical RadarReviewed byShunan Liu
Tuesday, Dec 23, 2025 6:07 pm ET1min read
ENJ
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Aime RobotAime Summary

- ENJUSDT tested $0.0275 resistance, forming a bearish engulfing pattern before closing at $0.02666.

- RSI peaked at 62 but failed to sustain momentum, while MACD showed weak bullish crossovers.

- Volume surged early then declined, signaling waning buying pressure near key resistance levels.

- Fibonacci levels at $0.02725-$0.02705 faced repeated tests, with $0.0266 support now at risk.

- Bollinger Bands contraction and descending triangle patterns suggest imminent directional breakout.

Summary
• Price tested key resistance at $0.0275 before retreating, forming a bearish engulfing pattern at the session high.
• RSI showed overbought conditions briefly, but failed to push above 60, signaling potential short-term profit-taking.
• Volume surged during the early part of the session, then declined, suggesting waning buying pressure as price approached critical levels.
• Bollinger Bands narrowed during the mid-session lull, hinting at a potential breakout or breakdown in the near term.
• Fibonacci retracement levels at 0.02725 and 0.02705 showed multiple retests, indicating clustered psychological support/resistance.

Enjin Coin/Tether (ENJUSDT) opened at $0.02745 and reached a high of $0.02758, finding support at $0.0268 before closing at $0.02666. Total volume for the 24-hour window was 7,594,763.6, with a turnover of approximately $208,732.

Structure & Formations


Price action showed a bearish engulfing pattern near the session high, as a bullish open at $0.02748 was followed by a close at $0.02743. This pattern may signal a reversal from the $0.0275 resistance. The asset also formed a doji near $0.02719 at 23:45, suggesting indecision at a key retracement level. The 5-minute chart displayed a descending triangle pattern as price tested the $0.02725 Fibonacci level multiple times.

Technical Indicators


The 20-period and 50-period moving averages on the 5-minute chart crossed bearishly in the afternoon, aligning with the decline in price. RSI fluctuated between overbought and neutral zones, peaking at 62 before retreating to 50 by the end of the session. MACD showed a weak bullish crossover in the early morning but failed to maintain bullish momentum. Bollinger Bands narrowed during the mid-day lull, suggesting a consolidation phase before a potential breakout.

Volume and Turnover


Turnover was strongest in the early afternoon, especially between 18:45 and 19:15 ET, when price moved between $0.02758 and $0.02731. However, after 20:00 ET, volume declined significantly as price drifted lower. The divergence between price and volume during the late afternoon pullback suggests weakening buying interest near key resistance levels.

Fibonacci Retracements


On the daily chart, the 0.618 retracement level at $0.0269–$0.0270 acted as a dynamic support level during the afternoon pullback. On the 5-minute chart, the 0.382 and 0.618 levels at $0.02725 and $0.02705 were repeatedly tested but failed to hold during strong selling pressure.

The forward-looking trend suggests a test of the $0.0266 support level and a potential bounce to the $0.02705–0.02725 retracement zone in the next 24 hours. However, the risk of a breakdown remains if volume fails to confirm any bullish push back toward key resistance. Investors should remain cautious as the market appears to be in a consolidation phase ahead of a decisive directional move.