Market Overview for Enjin Coin/Tether (ENJUSDT)

Summary
• ENJUSDT declined from 0.03078 to 0.02979, with bearish momentum evident in the RSI and MACD.
• Volatility expanded on Bollinger Bands, with price hovering near the midline.
• A key support level formed near 0.02963, while resistance appears at 0.03015.

Enjin Coin/Tether (ENJUSDT) opened at 0.03055 on 2026-01-15 12:00 ET, peaked at 0.03078, and closed at 0.02979 by 2026-01-16 12:00 ET, with a low of 0.02943. Total volume reached 14.29 million, and turnover hit 430,143.31 USDT over the 24-hour window.

Structure & Formations

Price action on ENJUSDT showed a bearish reversal pattern after a strong 5-minute rally early in the session. A long bearish candle at 0.0296–0.02976 on 2026-01-15 19:15 ET signaled increased selling pressure. A key support level formed at 0.02963, confirmed by two retests, while 0.03015 emerged as a critical resistance level.

Moving Averages

On the 5-minute chart, the 20-period and 50-period moving averages crossed in bearish alignment late in the session.

The daily chart shows a bearish crossover between the 50 and 100-period averages, reinforcing the short-term downward trend.

MACD & RSI

The MACD turned bearish, with the line crossing below the signal line and negative divergence forming with price. The RSI dipped to 33, suggesting oversold conditions, though it remained below 50, indicating weak bullish momentum.

Bollinger Bands

Volatility expanded throughout the session, with price oscillating near the lower and midlines of the bands. A contraction in band width occurred briefly during the early morning hours but failed to result in a breakout, signaling potential consolidation ahead.

Volume & Turnover

Volume surged during key sell-off periods, notably at 19:15 and 20:30 ET, confirming bearish sentiment. Turnover increased in tandem with price declines, showing no significant divergence between price and volume.

Fibonacci Retracements

On the daily chart, the 61.8% Fibonacci retracement level aligns closely with the key support at 0.02963. On the 5-minute chart, price stalled near the 38.2% retracement level of the 0.02943–0.03078 move, suggesting a possible bounce or continuation depending on follow-through volume.

The market appears to be in a consolidation phase as bears test support near 0.02963. A break below this level could accelerate the downtrend toward 0.02943, while a retest of 0.03015 might offer short-term resistance. Investors should remain cautious and watch for a potential rebound or breakdown in the next 24 hours.