Market Overview for ENJUSDT (Enjin Coin/Tether) – October 1, 2025

• ENJUSDT tested a bullish breakout above key resistance, driven by late-day buying.
• Volatility surged, with price peaking at 0.0640 before consolidating into a tight range.
• High volume confirmed the 0.0633–0.0640 resistance cluster, but no decisive trend formation.
• RSI showed overbought conditions by 15:00 ET, while MACD indicated weakening momentum.
• Bollinger Bands signaled contraction after 00:00 ET, hinting at potential range-bound action ahead.

Opening Summary

At 12:00 ET − 1 (October 30, 2025), ENJUSDT opened at 0.0602, reached a high of 0.0640, and a low of 0.0600, closing at 0.0634 by 12:00 ET (October 1, 2025). Over the 24-hour window, total volume traded was 16,921,374.6 ENJ, while notional turnover amounted to approximately $1,035,716 (assuming 0.0634 as a proxy for Tether valuation). Price showed a late-night rally but failed to sustain momentum into the day, hinting at indecision at key levels.

Structure & Formations

ENJUSDT formed a bullish flag pattern between 0.0631 and 0.0640 in the morning hours, with price consolidating above a critical support at 0.0631, last tested at 12:45 ET. A strong 15-minute candle at 09:45 ET pushed price to the session high of 0.0640, followed by a bearish engulfing candle at 10:00 ET that marked the first rejection. A doji at 10:15 ET confirmed uncertainty in the 0.0633–0.0635 range, which appears to be the next key support zone. These patterns suggest potential for a pullback into the 0.0631–0.0628 range before another attempt at the 0.0640 level.

MACD & RSI

The 15-minute MACD line crossed into positive territory at 08:30 ET, aligning with the breakout to 0.0640. However, by 10:15 ET, it reversed into negative territory, suggesting waning bullish momentum. RSI hit 78 (overbought) at 09:30 ET and dropped below 60 by 11:30 ET, signaling overbought correction and short-term bearish pressure. The divergence between price and RSI suggests a possible near-term reversal.

Bollinger Bands & Volatility

Bollinger Bands showed a significant widening during the early morning hours, with volatility peaking at 09:45 ET as price surged to 0.0640. The bands then began to contract after 00:00 ET, indicating a shift to a lower volatility regime. Price currently resides just below the upper band, suggesting overextended positioning. A test of the lower band at 0.0628 in the next 24 hours could offer a high-probability entry point for bullish traders.

Volume & Turnover

Volume spiked sharply at 08:45 ET and 09:00 ET, coinciding with the move to 0.0640, confirming the breakout. However, volume dropped significantly after 10:15 ET as price pulled back, signaling a lack of follow-through. The 15-minute candle at 08:45 ET had the highest turnover with 689,376.8 ENJ traded, representing a 3.15x increase from the previous hour’s average. This divergence suggests caution for aggressive bullish positions without confirmation.

Fibonacci Retracements

Applying Fibonacci levels to the recent 15-minute swing from 0.0628 to 0.0640, key levels include 0.0636 (23.6%), 0.0633 (38.2%), and 0.0630 (61.8%). The current price of 0.0634 sits near the 38.2% retracement level, making it a potential pivot point for the next 24 hours. If the price retraces further, 0.0630 (61.8%) and 0.0628 (swing low) become critical for further support.

Backtest Hypothesis

The described backtesting strategy suggests entering long positions on ENJUSDT when price closes above the 20-period EMA on the 15-minute chart and MACD crosses above zero, with a stop loss placed below the 61.8% Fibonacci retracement of the last bearish swing. The recent candle on October 1 at 08:45 ET met both conditions, making it a valid entry signal under this framework. A target of 0.0643–0.0645 aligns with the upper Bollinger Band and previous resistance levels, while a stop at 0.0630 would limit risk. This setup could offer a risk-reward ratio of approximately 1:1.5–1:1.8, depending on trade entry and volatility.