Ens Market Overview for 2025-08-29

• ENSUSD opened at $24.46, dropped to $23.17, and closed near $23.3 at 12:00 ET, with muted volume and a consolidating bias.
• A sharp 15-minute selloff drove the price down from $24.26 to $23.17, showing short-term bearish momentum.
• Volatility expanded briefly during the mid-session selloff but remains low overall, with no clear trend formation.
• RSI and MACD suggest oversold conditions but no strong reversal cues; price action remains range-bound.
• Fibonacci retracements highlight potential support near $23.17 and resistance at $23.6, with volume thin at key levels.

Ens (ENSUSD) opened at $24.46 at 12:00 ET on August 28, 2025, and traded within a range that briefly dipped to $23.17 before closing at $23.3 at 12:00 ET on August 29. The 24-hour session recorded a total trading volume of 86.59 and a notional turnover of $68. The price action appears to be consolidating after a sharp selloff in the early hours of the morning.

Structure & Formations

The 15-minute OHLC data reveals a bearish engulfing pattern during the early hours of the morning, as the candle opened at $24.26 and closed at $23.94 with a lower wick, signaling bearish control. A second engulfing pattern formed around 01:30 ET, as ENSUSD fell from $24.24 to $23.84. A doji formed at $23.97 in the early afternoon, suggesting indecision. Key support levels are now at $23.17 and $23.84, with resistance at $24.05 and $24.26.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are both sloping downward, reinforcing the bearish bias. On the daily chart, the 50-period SMA is still above the 200-period, indicating a neutral to slightly bullish bias for the broader time horizon, but the short-term 15-minute chart shows a clear bearish trend.

MACD & RSI

The RSI fell below 30 during the selloff, reaching as low as 28.8, suggesting oversold conditions. The MACD line crossed below the signal line during the selloff, confirming the bearish momentum. However, the RSI has not yet rebounded strongly, and the MACD remains in negative territory. This suggests that a short-term bounce may be likely but a strong reversal is still uncertain. The market appears to be testing its key support levels for a potential rebound.

Bollinger Bands

The price action dipped outside the lower Bollinger Band during the selloff to $23.17, indicating a sharp volatility expansion. The price has since remained within the band and is currently near the middle band, suggesting a potential consolidation phase. The Bollinger Band width has stabilized since the early morning, indicating a return to lower volatility.

Volume & Turnover

Volume spiked during the morning selloff, with a large 15-minute candle at 17:00 ET showing a volume of 12.4 and a price drop from $24.26 to $23.94. After that, volume remained mostly flat with several zero-volume candles. Turnover also spiked during the selloff and remained muted otherwise. The divergence between volume and price movement suggests that the selloff may be driven by large orders, with retail activity subdued.

Fibonacci Retracements

Applying Fibonacci retracements to the 15-minute swing from $24.46 to $23.17, the 61.8% level is at $23.6 and the 38.2% level is at $23.3. The price closed near $23.3, suggesting it may test the 38.2% level for a potential bounce. On the daily chart, the 50% retracement from recent major swings aligns with $23.6–$23.9, a potential short-term resistance cluster.

Backtest Hypothesis

To run this back-test, the three practical details are critical: ticker selection, RSI settings, and trade side. Ens (ENSUSD) is the chosen asset for this test. The standard RSI period of 14 and overbought threshold of 70 will be used unless otherwise specified. For trade side, the interpretation of “sell” will involve opening a short position at the close on the signal day and covering at the next day’s close. Once confirmed, the back-test will be run from January 1, 2022, through today, leveraging the technical indicators discussed above—RSI, MACD, and Fibonacci levels—to evaluate the viability of the strategy.

Looking ahead, the immediate focus should be on whether ENSUSD can retest $23.6 as a potential resistance level, or if it consolidates below $23.3. A strong move above $23.6 could indicate a short-term reversal, while a breakdown below $23.17 would suggest further bearish pressure. Investors should remain cautious, as low volume and thin turnover suggest limited conviction in the current price action.