Market Overview for Enjin Coin/Tether (ENJUSDT)

Summary
• Price formed a bullish engulfing pattern following a 4.4% rebound from 0.0268–0.0276.
• RSI rose from 34 to 52, suggesting easing bearish momentum but no overbought conditions.
• Volume surged to 550k at 20:00 ET, coinciding with a 1.1% price rally to 0.02765.
• Bollinger Bands expanded, with price closing near the upper band at 0.02802 on the 24-hour chart.
• Fibonacci 61.8% level at 0.0274 appears to have acted as temporary support during the 0.0268–0.0280 swing.

Enjin Coin/Tether (ENJUSDT) opened at 0.02713 on 2025-12-19 12:00 ET, reached a high of 0.02813, a low of 0.02683, and closed at 0.02802 as of 2025-12-20 12:00 ET. Total volume traded was 13.7 million ENJ, with a notional turnover of approximately $382,270.

Structure and Momentum

The pair showed a clear short-term reversal after testing the 0.0268–0.0270 support zone, forming a bullish engulfing pattern around 19:00 ET. RSI climbed steadily throughout the session, indicating improving momentum, but remained below overbought levels. The 20-period EMA crossed above the 50-period EMA mid-session, reinforcing potential for a continuation of the recent uptrend.

Volatility and Volume

Bollinger Bands widened, with price closing near the upper band, reflecting higher volatility. A sharp volume spike occurred at 20:00 ET, where 550k ENJ changed hands alongside a 1.1% rally. Volume distribution shows stronger buying interest during the 19:00–21:00 ET window, while turnover remained relatively consistent.

Fibonacci and Key Levels

Price bounced off the 61.8% Fibonacci retracement level at 0.0274 during the 0.0268–0.0280 swing, suggesting short-term buyers entered the market. On the daily chart, the 200-period SMA at 0.0275 appears to be a critical level for near-term direction.

Looking ahead, price appears to be testing the 0.0281 resistance level and may face near-term pressure if volume does not confirm a break above this threshold. Traders should monitor the 0.0275–0.0281 range for potential consolidation or continuation, with a risk of pullback if support below 0.0275 fails to hold.