Market Overview for Enso/USDC (ENSOUSDC) – 24-Hour Summary as of 2025-10-28

• Enso/USDC posted a bearish 24-hour close of 1.885, down from an intraday high of 2.131 and opening at 1.982.
• Volume surged to 82,646.21 at 17:00 ET, followed by a sharp retreat below 1.900 by 03:00 ET.
• RSI signaled overbought conditions twice during the session, but failed to produce sustained follow-through.
• Price remained below the 20-period EMA for the majority of the session, with a final retest of key support at 1.85–1.87.
• A consolidation phase appears likely ahead of potential directional bias.

24-Hour Price Action and Volume Flow

Enso/USDC opened at 1.982 on 2025-10-27 at 12:00 ET, peaking at 2.131 during the 17:00 ET 15-minute candle. The pair closed at 1.885 as of 12:00 ET on 2025-10-28, marking a bearish reversal over 24 hours. Total volume reached 408,514.69, while turnover amounted to approximately 799,235 USDC (based on weighted average price). Price action displayed a classic topping pattern, with a strong rally followed by a rapid reversal and a bearish engulfing formation from 20:00 to 21:45 ET.

Structure & Key Levels

Price tested key resistance levels at 1.900 and 1.950 multiple times before failing to hold above them, with bearish continuation patterns (e.g., dark cloud cover, bearish engulfing) becoming more frequent from 20:30 ET onward. Support levels at 1.850 and 1.870 were retested late in the session, with 1.870 showing some buying interest during the 03:45–04:00 ET period. A bearish divergence between price and RSI suggests that further downside pressure may follow if the 1.850 level is breached.

Moving Averages and Momentum

The 20-period and 50-period EMAs were breached early in the 24-hour period and remained bearish throughout, confirming the bearish trend. The 50-period EMA currently sits near 1.955, while the 20-period is at 1.935, both acting as dynamic resistance. On the 1-hour chart, price remains below all three moving averages. Momentum, as measured by MACD, turned negative during the 17:00–20:00 ET rally and remained bearish, with a bearish crossover occurring after the 21:15 ET candle.

Volatility and Order Flow

Bollinger Bands expanded during the 17:00–19:00 ET rally, reaching a 2σ width of 0.160, before contracting sharply during the subsequent decline. Price spent most of the session in the lower half of the bands, signaling bearish dominance. Fibonacci retracements drawn from the 1.982–2.131 swing showed a 61.8% level at 1.904, which failed to hold. A 78.6% retest at 1.850 may be the next critical level to watch.

Backtest Hypothesis

The bearish engulfing pattern, observed multiple times in the provided 15-minute OHLCV data, serves as a potential signal for short-term bearish bias. A backtest could be designed to enter short positions at the close of the engulfing candle and exit after three days, using a stop-loss at the high of the engulfing pattern. The key challenge lies in confirming the correct ticker format and data source for accurate historical pattern detection. If validated, this strategy could be backtested using a broader dataset to assess its robustness and risk-adjusted returns.