Market Overview for Enjin Coin/Tether (ENJUSDT) – 2026-01-17 12:00 ET

Summary
• Price rallied from $0.02978 to $0.03613, forming bullish engulfing patterns near $0.0300.
• RSI surged into overbought territory, while MACD crossed above zero with strong momentum.
• Volatility expanded after $0.0308, with volume peaking at 16.7 million near the 24-hour high.
• Key support appears to hold at $0.02978–$0.0298, with 61.8% Fibonacci near $0.0331.

Price and Volume Performance

Enjin Coin/Tether (ENJUSDT) opened at $0.02989 on 2026-01-16 12:00 ET, climbed to a high of $0.03613, touched a low of $0.02978, and closed at $0.03596 by 2026-01-17 12:00 ET. Total volume reached 26.8 million, with turnover hitting $930,160 over the 24-hour window.

Structure and Momentum

Bullish momentum accelerated around 15:15–15:30 ET, with a strong move from $0.03438 to $0.03556. A bullish engulfing pattern appeared at $0.0300–$0.03005, confirming a short-term reversal. RSI surged to overbought levels above 70, while MACD crossed above zero with a strong positive histogram, indicating sustained upward energy.

Volatility and Fibonacci Levels

Volatility expanded significantly after $0.0308, with Bollinger Bands widening as price surged. The 24-hour high at $0.03613 reached near the 61.8% Fibonacci retracement of the recent $0.02978–$0.03607 swing, suggesting a potential pause or consolidation ahead.

Volume and Turnover Divergence

Turnover surged during the breakout from $0.03432 to $0.03564, with one 5-minute candle showing 16.7 million volume and $593.5k turnover. However, a mild divergence in volume began to appear after the 15:30 ET high, suggesting caution for further momentum.

The rally may continue if the $0.0356–$0.03613 range holds as support, with a potential test of the $0.03668 level. However, increasing RSI and divergent volume could signal a short-term pullback toward $0.0331–$0.0339, making risk management key in the near term.