Market Overview for Enjin Coin/Tether (ENJUSDT)

Generated by AI AgentTradeCipherReviewed byShunan Liu
Saturday, Dec 6, 2025 8:36 pm ET1min read
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- ENJUSDT broke above 0.03112 resistance with a bullish engulfing pattern near 0.0316, signaling strong upward momentum.

- RSI hit overbought levels (71) and Bollinger contraction suggested increased volatility ahead of the breakout.

- Volume spiked to 6.9M ENJ during the 16:30–17:00 ET surge, confirming the 0.0324 high but showing divergence at 05:00 ET.

- 61.8% Fibonacci level at 0.03155 acted as critical support-turned-resistance, with price bouncing twice before advancing.

- Traders should monitor RSI exhaustion and volume divergence as potential reversal signals near 0.03236-0.0324 resistance.

Summary
• Price broke above a 5-min resistance at 0.03112 and formed a bullish engulfing pattern near 0.0316.
• RSI reached overbought territory, suggesting a potential pullback may occur.
• Volume spiked during the late-night surge, with a high of 0.0324 at 17:00 ET.
• Bollinger Bands showed a contraction prior to the breakout, hinting at increased volatility.
• A 61.8% Fibonacci retracement at 0.03155 became a pivot level during consolidation.

Enjin Coin/Tether (ENJUSDT) opened at 0.03091, hit a 24-hour high of 0.0324, and closed at 0.03178 with a low of 0.03052. The pair saw total volume of 6.9 million ENJ and a notional turnover of approximately $2,165,391.

Structure & Moving Averages


Price formed a bullish engulfing pattern near 0.0316 and broke above a key 5-min resistance at 0.03112. The 20-period moving average is bullish, currently at 0.0315, while the 50-period line has been crossed and is trending upward. On the daily chart,
ENJUSDT
remains above its 50-day and 200-day moving averages, indicating a longer-term bullish bias.

MACD & RSI


The MACD line crossed above the signal line in the morning, suggesting increased bullish momentum. RSI surged to overbought levels in the afternoon, reaching 71, indicating the pair may experience a near-term correction or consolidation phase.

Bollinger Bands and Volatility


A Bollinger contraction occurred before the breakout, signaling a potential shift in volatility. By the late hours, the price was trading near the upper band, suggesting a continuation of the upward move unless a reversal pattern emerges.

Volume and Turnover


Volume spiked during the 16:30–17:00 ET period, with a large candle confirming the 0.0324 high. Notional turnover also increased sharply during this window, supporting the strength of the move. A divergence between price and volume was observed around 05:00 ET, hinting at internal resistance.

Fibonacci Retracements


The 61.8% Fibonacci level at 0.03155 acted as a strong pivot point during consolidation. Price bounced off this level twice before pushing higher, showing it to be a critical support-turned-resistance marker.

The price appears to have momentum to

test
the 0.03236–0.0324 range again, but a pullback to test 0.03155 may occur first. Traders should monitor RSI and volume for signs of exhaustion or follow-through. A sharp divergence in volume could signal a reversal in the next 24 hours.