Market Overview for Enjin Coin/Tether (ENJUSDT) – 24-Hour Summary

Generated by AI AgentAinvest Crypto Technical RadarReviewed byAInvest News Editorial Team
Thursday, Jan 8, 2026 7:21 pm ET1min read
ENJ
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- ENJUSDT formed a bullish engulfing pattern near 0.0310–0.0312, signaling potential short-term reversal after testing key support twice.

- Volume surged above 100k units (2–6 AM ET) and RSI bottomed below 30, confirming oversold conditions and renewed buying pressure.

- Bollinger Bands tightened midday while 50 EMA crossed below price, showing mixed signals between bearish momentum and consolidation near 0.0307–0.0315 levels.

Summary
•

ENJUSDT
formed a bullish engulfing pattern near 0.0310–0.0312, indicating potential short-term reversal.
• Volume surged above 100k units in the 2–6 AM ET window, confirming renewed buying pressure.
• Price tested the 0.0307–0.0309 support twice, showing defensive strength but no breakout.
• RSI bottomed below 30 early morning, suggesting oversold conditions and possible rebound.
• Bollinger Bands tightened midday, signaling a possible breakout in the 0.0313–0.0315 range.

Enjin Coin/Tether (ENJUSDT) opened at 0.03126, reached a high of 0.03191, and closed at 0.03039 by 12:00 ET, with a low of 0.0301. Total volume was 12.94 million units, and notional turnover was 405,600 USD. The pair experienced multiple directional swings, showing resilience near key support levels and increased volatility in the early hours.

Structure & Formations


Price action formed a bullish engulfing pattern as ENJUSDT moved above 0.0310–0.0312, suggesting short-term buying momentum. A double-bottom structure emerged around 0.0307–0.0309, reinforcing its importance. A bearish harami candle formed in the 4–5 AM ET window, signaling a pause in the rally.

Moving Averages


Short-term 20/50 EMA on the 5-minute chart crossed below price around 0.0314–0.0315, indicating bearish momentum. The 50-period EMA on the daily chart remains above the 100/200 EMA, showing a longer-term neutral to slightly bullish bias.

Momentum and Volatility


RSI bottomed near 30 at 05:00 ET, hinting at oversold conditions, followed by a moderate rebound. MACD crossed below the signal line, indicating bearish momentum. Bollinger Bands narrowed in the 2–4 AM ET period, foreshadowing a potential breakout. Price remains within the upper and lower bands, showing controlled volatility.

Volume and Turnover


Volume spiked above 100k units between 2 AM and 6 AM ET, aligning with price action and suggesting strong buying interest during that period. Turnover diverged from price near the 0.0307–0.0309 level, indicating accumulation.

Fibonacci Retracements


A 61.8% Fibonacci retracement level at 0.0307–0.0309 held strong, preventing further downside. A 38.2% retracement at 0.0314–0.0315 appears to be a key resistance zone for the near term.

The market appears to be consolidating near key support and resistance zones, with mixed signals between short-term bearish momentum and accumulation activity. A sustained break above 0.0315 could test higher resistance, while a breakdown below 0.0306 may invite further downside. Investors should remain cautious as volatility and volume suggest an active but indecisive market.