Market Overview: ENSUSDT Faces Key Resistance as Momentum Peaks

Summary
• ENSUSDT found short-term support near $9.63–9.65 and tested resistance at $9.88–9.96.
• A bullish engulfing pattern emerged around 09:45–10:00 ET with strong volume.
• RSI entered overbought territory near 80, signaling potential short-term reversal risk.
• Volatility expanded as Bollinger Bands widened, with price nearing the upper band in late trading.
• Notional turnover surged in the 17:00 ET hour, exceeding $177M as price approached $10.03.

The Ethereum Name Service/Tether (ENSUSDT) pair opened at $9.84 on 2025-12-15 at 12:00 ET and traded as low as $9.46 before closing at $10.03 on 2025-12-16 at 12:00 ET. The total 24-hour volume was 177,802.3 units, with a notional turnover of approximately $1.78M.

**

Structure & Moving Averages

Price action formed a key bullish reversal pattern near the $9.63–9.65 level on 12/16 at 04:45–05:00 ET. This level acted as a strong support, followed by a sustained rally that tested key 5-minute and daily resistance. The 20-period and 50-period moving averages on the 5-minute chart crossed into bullish alignment, while the 50-period daily MA appears to be a critical level for near-term continuation.

**

Momentum and Volatility

MACD surged in the final two hours of the 24-hour window, confirming a strong upward thrust. RSI reached overbought levels near 80, suggesting a probable pullback or consolidation in the near term. Bollinger Bands expanded significantly during the final six hours, with price reaching the upper band at $10.05, indicating rising volatility and potential for a break above or retesting of key support.

**

Volume and Fibonacci Levels

Volume spiked sharply during the 17:00 ET hour, where price closed at $10.03, the highest level of the 24-hour window. This breakout coincided with a 61.8% Fibonacci retracement of the recent 5-minute swing from $9.46 to $10.05. The strong volume and price action at this level suggest short-term conviction, though divergence between volume and price may indicate waning momentum in the next session.

**

Forward-Looking Observation

With ENSUSDT approaching $10.05 and RSI entering overbought territory, a pullback toward the $9.88–9.91 range could materialize in the next 24 hours. Investors should monitor the 50-period daily MA and the $9.88–9.91 consolidation zone for potential continuation or reversal signals.

Risk caveat: The market appears to be at a turning point, with rising volatility and potential for sharp corrections if key support levels are tested.