Market Overview for Enso/USDC: Strong Rally Amid High Volatility and Rising Momentum

• Enso/USDC rose from 1.582 to 1.720 in 24 hours, with strong buying pressure and a key breakout above prior resistance.
• Momentum accelerated in overnight trading with volume spiking at 1.692, confirming the move higher.
• RSI suggests overbought conditions at 75, while price remains above the 20- and 50-period SMAs.
• Bollinger Bands have expanded, indicating rising volatility, with price near the upper band at 1.732.
• A bearish divergence in volume near 1.720 may signal caution ahead.

At 12:00 ET–1 on 2025-10-24, Enso/USDC opened at 1.582, rising to a high of 1.732 before closing at 1.720 at 12:00 ET on 2025-10-25. The 24-hour total volume was 122,688.03, with a notional turnover of $208,297. The price action has shown a clear bullish bias, especially after breaking above 1.692.

Structure and formations indicate strong support at 1.582 and key resistance at 1.692, which was decisively overcome. A bearish engulfing pattern formed around 1.720, hinting at potential short-term profit-taking. Doji patterns appear near 1.720 and 1.659, suggesting indecision and possible reversals.

The 20-period and 50-period SMAs are both bullish, with price above both. The 50-period line is trending upward, reinforcing the bullish trend. On the daily chart, the 100-period SMA is also a key level to monitor as it currently sits at 1.620. The 200-period SMA at 1.604 appears to be a firm long-term support level.

MACD is positive and expanding, reflecting rising bullish momentum. RSI is currently at 75, indicating overbought conditions, and may lead to a pullback. Bollinger Bands have widened significantly, with price near the upper band at 1.732. This suggests high volatility and potential for a mean reversion or consolidation phase.

Volume has increased notably, particularly around 1.692 and 1.720, confirming the strength of the recent move. However, volume at 1.720 is slightly lower than at 1.692, hinting at potential exhaustion. Notional turnover is aligned with the price action, reinforcing the strength of the bullish move.

Fibonacci retracements show the 61.8% level at 1.718 and the 78.6% level at 1.733. The price has just broken the 78.6% retracement, suggesting a possible short-term pause or consolidation. On the daily chart, the 61.8% retracement from the 2025-10-24 low to the 2025-10-25 high is at 1.653, a key support level.

The price may continue to test the 1.732 high or consolidate between 1.700 and 1.730 over the next 24 hours. A pullback toward 1.692 could see renewed buying interest, but overbought conditions and the bearish engulfing pattern suggest caution ahead. Investors should monitor volume divergence and RSI levels for early signs of a reversal.

The backtesting strategy described hinges on two key variables: the exit price and the timeframe for detecting candlestick patterns. For clarity and accuracy, the exit rule should be defined as reaching a specific absolute price level (e.g., 1.692), and the timeframe for the Bearish Engulfing pattern should be specified (e.g., 1-hour or daily bars). Once these are confirmed, the back-test can be executed to evaluate the strategy’s performance from 2022-01-01 to present.