ENSUSDT Market Overview: Volatility, Momentum, and Key Levels

• Price surged from $22.63 to $23.94, breaking key resistance levels.
• Volatility and volume spiked dramatically in the final 3 hours of the 24-hour window.
• RSI suggests overbought conditions, indicating a potential pullback.
• MACD confirmed bullish momentum with a strong positive divergence.
• Price action forms a bullish continuation pattern, with support at $22.70 and resistance at $23.60.

Ethereum Name Service/Tether USDt (ENSUSDT) opened at $22.63 on 2025-09-09 at 12:00 ET and surged to a high of $23.94 before closing at $23.61 at 12:00 ET on 2025-09-10. Total volume was 268,195.11, and notional turnover reached approximately $6,327,064. The price action shows a strong upward bias with clear momentum.

Structure & Formations

The 24-hour chart reveals a bullish continuation pattern, with price finding key support at $22.70 and breaking above critical resistance levels at $23.10 and $23.60. A strong breakout candle at $23.94 confirmed the move higher. Multiple bullish engulfing patterns emerged in the final 6 hours, especially between 13:15 and 14:15 ET, which reinforced the upward momentum. A key consolidation area appears between $23.40 and $23.60, and if this holds, a retest of $23.94 could occur.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both crossed above key resistance levels during the breakout, signaling strong momentum. The 50-period line is currently at $23.53, supporting the idea of a continuation pattern. On the daily chart, the 50, 100, and 200-period moving averages are all bullish-aligned, with the 200-period at $22.90 providing strong support.

MACD & RSI

MACD turned strongly positive in the final hours of the 24-hour window, with the line crossing above the signal line and forming a bullish divergence. RSI surged to 72–76, signaling overbought conditions, suggesting a potential pullback or consolidation before a fresh move higher. The combination of a strong MACD and high RSI points to momentum that could continue but could also face short-term profit-taking.

Bollinger Bands

Volatility expanded significantly in the final 3 hours of the period, with price reaching the upper Bollinger Band at $23.94. Prior to that, the bands had been relatively compressed between $22.70 and $22.90. The sharp move upward indicates a breakout from a period of low volatility. If the upper band remains as resistance, a pullback to the lower band or midline could occur before the next leg higher.

Volume & Turnover

Volume and turnover surged in the final 3 hours, with the largest single candle (at $23.94) reaching a volume of 17,297.81 and turnover of approximately $408,921. This confirms the move as a strong market-driven breakout rather than a short-lived rally. Notably, volume increased during both the push to $23.94 and the subsequent pullback, suggesting a high level of participation from both bullish and bearish traders.

Fibonacci Retracements

Applying Fibonacci to the recent 15-minute swing from $22.63 to $23.94, key retracement levels at 61.8% ($23.43) and 38.2% ($23.18) were tested and held, reinforcing the idea of a continuation pattern. On the daily chart, Fibonacci levels align with major support and resistance around $22.90 and $23.10, which could become critical for near-term action.

Backtest Hypothesis

Given the strong breakout and confirmation from moving averages and MACD, a potential backtest strategy could involve entering long on the close of the candle that breaks above the upper Bollinger Band at $23.94, with a stop just below the $23.40–23.60 consolidation zone. A target could be set at 61.8% of the next swing high or the prior peak at $23.94. This strategy leverages the breakout pattern and technical confirmation, while the RSI at overbought levels suggests some short-term risk of a pullback or consolidation.