Market Overview for Enjin Coin/Tether (ENJUSDT)

Generated by AI AgentAinvest Crypto Technical RadarReviewed byAInvest News Editorial Team
Sunday, Jan 18, 2026 6:30 pm ET2min read
ENJ
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Aime RobotAime Summary

- ENJ/USDT fell to 0.0327-0.0329 support, showing bearish momentum after a 5-minute engulfing pattern triggered the downtrend.

- Volume spiked early but declined later, with RSI in oversold territory and narrowing Bollinger Bands hinting at potential breakout or consolidation.

- Price tested 0.618 Fibonacci support at 0.0332, while weakening turnover suggests diminishing conviction in the bearish move.

- A rebound above 0.0343 or breakdown below 0.0327 with increased volume could confirm next directional moves amid high volatility risks.

Summary
• Price declined from 0.03682 to 0.0327, forming bearish momentum and key support at 0.0327–0.0329.
• Volume surged early before tapering, with turnover divergence signaling weakening conviction.
• RSI indicates oversold territory, while Bollinger Bands narrow, suggesting potential for a breakout or consolidation.

Enjin Coin/Tether (ENJUSDT) opened at 0.03504 on 2026-01-17 at 12:00 ET and closed at 0.03293 by 2026-01-18 at 12:00 ET, reaching a high of 0.03759 and a low of 0.0327. Total volume was 69,625,265.2 and turnover stood at 2,367,776.03 over the 24-hour window.

Structure & Formations


The price formed a distinct bearish trend, with key resistance at 0.0359 and support levels confirmed at 0.0327–0.0329. A morning 5-minute engulfing pattern at 19:30 ET marked the beginning of the downtrend, and several bearish reversal signals followed, especially in the early hours. A long lower wick at 0.03415 during the 04:15–04:30 ET interval suggests rejection of lower levels, but the overall pattern remains bearish.

Moving Averages and Momentum


The 20-period and 50-period moving averages on the 5-minute chart both remain above the current price, indicating bearish bias. The 50-period daily MA is not directly calculable due to limited daily data, but the 20-period MA on the 5-minute chart has been trending downward for most of the session. The MACD line is negative and trending lower, reinforcing bearish momentum. RSI is currently in oversold territory, hinting that further downside may be limited in the short term or that a rebound could be imminent.

Bollinger Bands and Volatility


Bollinger Bands have narrowed significantly in the last 6 hours, indicating a contraction in volatility and a potential setup for a breakout. The price has spent much of the session near the lower band, which aligns with the bearish trend. The widening bands seen earlier in the session suggest a period of heightened volatility, particularly before the price began its downward trend.

Volume and Turnover Analysis

Volume spiked early in the session, particularly between 17:00 and 18:30 ET, coinciding with the initial bearish reversal and continuation patterns. However, volume has since tailed off, suggesting that selling pressure is waning. Notional turnover also declined significantly in the latter half of the session, indicating weaker conviction in the move. Price and turnover appear to diverge slightly, with turnover not confirming the strength of the price decline.

Fibonacci Retracements


Applying Fibonacci levels to the 5-minute swing from 0.0358 to 0.0327, the price found support at the 0.618 level (around 0.0332), and is now testing the 0.382 level (0.0343). On the daily chart, retracement levels are less relevant due to limited data, but the 0.618 level could serve as a potential pivot if the pair rebounds.

The pair appears to be consolidating near critical support, with mixed signals between momentum and volume. While a bounce off 0.0327–0.0329 could occur, a break below this range may accelerate the decline. Investors should watch for a reversal signal or a breakdown with increased volume to confirm the next move. As always, price volatility remains a risk for the next 24 hours.