Market Overview for Enjin Coin/Tether (ENJUSDT) – 24-Hour Summary as of 2025-12-31

Summary
• ENJUSDT formed a bullish engulfing pattern near $0.02755, indicating potential upward momentum.
• Price traded within a tight range between $0.02748 and $0.02846, with key resistance at $0.0278 and support near $0.0275.
• Volume spiked during the late UTC surge to $0.02846, confirming strong buying pressure before a sharp pullback.
• RSI signaled overbought conditions multiple times, suggesting a possible reversal or consolidation phase.
• Turnover surged over $24,700 at peak, but failed to sustain above $20,000, hinting at possible profit-taking.

Enjin Coin/Tether (ENJUSDT) opened at $0.02758 on 2025-12-30 12:00 ET, reached a high of $0.02846, a low of $0.02693, and closed at $0.02701 as of 2025-12-31 12:00 ET. Total volume amounted to 6,847,125.3 ENJ, with a notional turnover of approximately $188,917.50 over the 24-hour window.

Structure & Formations

Price action on the 5-minute chart revealed a bullish engulfing pattern around $0.02755, suggesting a short-term reversal, but failed to break above key resistance at $0.0278. Later in the day, a bearish reversal pattern formed at $0.02846, followed by a steep decline toward $0.02701. Daily support appears near $0.02748 and $0.0270, with a potential breakout area above $0.0278.

MACD & RSI

The 12-26 MACD on the 5-minute chart showed bullish momentum during the early afternoon UTC rally, with a strong positive crossover. RSI peaked above 70 multiple times, suggesting overbought conditions and raising the possibility of a pullback. However, the RSI did not show a bearish divergence during the drop, indicating ongoing buying interest at lower levels.

Bollinger Bands

Volatility expanded significantly during the UTC afternoon rally, with price briefly spilling above the upper band at $0.02846. This was followed by a sharp contraction back into the band as price retreated to $0.02701. The current price of $0.02701 rests near the lower Bollinger Band, suggesting a potential oversold condition and possible support holding.

Volume & Turnover

Volume and turnover spiked during the late UTC rally to $0.02846, with over 876,041.3 ENJ traded and a turnover of $24,714.80. This was followed by a significant pullback with high volume and turnover again near $0.02701, indicating active participation and possible accumulation at lower levels. The divergence between price and volume during the selloff suggests mixed sentiment.

Fibonacci Retracements

On the 5-minute chart, the recent high of $0.02846 and low of $0.02693 define a potential 38.2% retracement at $0.02779 and a 61.8% retracement at $0.02737. Daily Fibonacci levels suggest a possible retracement target of $0.02733 as the price consolidates near the lower band.

Market participants may watch for a break above $0.0278 for renewed bullish momentum or a test of support at $0.0270. A failure to hold above $0.0270 could trigger further short-term selling. Investors should remain cautious for potential volatility, especially during the early UTC trading session.