Market Overview: Enjin Coin/Tether (ENJUSDT) - 24-Hour Summary (2025-09-15)

• ENJUSDT closed higher with a bullish bias amid consolidation above key support.
• Volatility expanded in late ET hours, signaling potential trend continuation.
• RSI suggests mild overbought conditions, but divergence with volume remains neutral.
• Bollinger Bands tightened mid-day before a breakout to the upside.
• A 15-minute bullish engulfing pattern emerged post-breakout, suggesting continuation.

At 12:00 ET − 1 (2025-09-14 12:00:00), ENJUSDT opened at 0.0697, traded to a high of 0.0707, and closed at 0.0707 at 12:00 ET. The total volume was 14.97 million ENJ, and turnover was $1.04 million over the 24-hour period. The pair displayed a strong bullish close, forming a key consolidation pattern ahead of a breakout.

Structure & Formations

The price found strong support at 0.0694 and formed a 15-minute bullish engulfing pattern around 2025-09-15 06:00 ET. This pattern is a strong continuation signal in an upward trend. Additionally, a doji appeared at 2025-09-15 03:00 ET, suggesting indecision and a possible pause in the upward momentum. Resistance levels were observed at 0.0702 and 0.0705, where price paused briefly before breaking through to new highs.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages were both trending upward and were positioned below the current price, confirming a bullish bias. The 50-period MA crossed above the 20-period MA during the early morning hours, forming a golden cross. On the daily chart, the 50/100/200-period MAs are aligned with the trend, suggesting the uptrend remains intact.

MACD & RSI

The MACD remained positive throughout the session with a narrowing histogram, indicating slowing momentum. RSI reached 67.8 at the 24-hour close, suggesting overbought conditions, though not extreme. A divergence between RSI and price did not occur, supporting the idea that the bullish trend may continue into the next session.

Bollinger Bands

Volatility expanded late in the session, with the Bollinger Band width increasing from 0.00012 in the early morning to 0.0008 by the close. The price traded near the upper band during the breakout, indicating high conviction in the bullish move. A prior contraction occurred at 2025-09-15 01:00 ET, setting the stage for the breakout.

Volume & Turnover

Volume surged above 300,000 ENJ during the 15-minute candle at 2025-09-15 05:30 ET, coinciding with a strong upward move. This volume confirmed the breakout rather than contradicting it. Notional turnover increased from $35k in the early session to $70k in the final hour, aligning with the bullish price action.

Fibonacci Retracements

Applying Fibonacci to the 15-minute swing from 0.0694 to 0.0707, the price found a key 61.8% retracement level at 0.0702, where it stalled briefly before surging to the high. On the daily chart, the 61.8% level at 0.0703 appears to be a resistance-turned-support, now acting as a key level for the near-term.

Backtest Hypothesis

The backtesting strategy described involves entering a long position when a 15-minute bullish engulfing pattern forms above a 50-period moving average, confirmed by a MACD cross above the signal line and a volume spike above 1.5x average in the same period. A stop loss is placed below the low of the engulfing pattern, and a take profit is set at 1.5x the pattern’s body size. This strategy would have triggered a long signal on ENJUSDT at 2025-09-15 06:00 ET with a target of 0.0714 and a stop loss at 0.0702, aligning with the observed breakout and momentum.