Market Overview: ENSUSDT Volatility and Mixed Momentum on 2025-12-21

Summary
• ENSUSDT formed a bullish engulfing pattern near 9.64 and tested 9.77 after a sharp rebound.
• RSI signaled overbought conditions above 70 and oversold below 30, showing aggressive swings.
• Volume spiked to 18,863.23 at 11:15 ET, but failed to sustain upward momentum beyond 9.80.
• Bollinger Bands widened significantly during the 9:00–12:00 ET session, indicating heightened volatility.
• Price found support at 9.63–9.66 multiple times, aligning with Fibonacci 50% and 61.8% levels.

Ethereum Name Service/Tether (ENSUSDT) opened at 9.67 on 2025-12-20 12:00 ET and closed at 9.67 on 2025-12-21 12:00 ET, reaching a high of 9.80 and a low of 9.45. Total volume for the 24-hour period was 109,038.85, with notional turnover at $1,036,413.79.

Structure and Patterns

The 24-hour chart showed multiple key support and resistance levels, with a strong bearish breakdown from 9.77 to 9.45 and a subsequent partial recovery. A bullish engulfing pattern formed at 9.64 during the 11:45–12:00 ET window, indicating short-term buying interest. A key bearish divergence appeared at 9.80 when RSI failed to confirm a higher high despite a new price peak, suggesting momentum was waning.

Momentum and Volatility

The RSI fluctuated wildly between 20 and 80, signaling aggressive buying and selling pressure. A sharp rebound from 9.45 to 9.77 drove the RSI above 70, but a subsequent pullback saw it drop below 50, suggesting indecision. Bollinger Bands expanded significantly during the 9:00–12:00 ET window, reflecting heightened volatility and increased trader activity.

Volume and Turnover

The highest volume spike occurred at 11:15 ET (18,863.23) when price dropped sharply from 9.68 to 9.64. While this indicated strong selling pressure, price failed to break below 9.63 multiple times, suggesting a potential floor. Turnover also surged during the 12:15–12:30 ET window when price surged from 9.67 to 9.77, with total notional turnover increasing by over 200% compared to earlier hours.

Key Levels and Fibonacci

Price found repeated support at 9.63–9.66, aligning with Fibonacci 50% and 61.8% retracement levels from the 9.45 to 9.80 swing. On the daily chart, the 50-period and 200-period moving averages diverged, with the 50-period line above the 200-period line, suggesting a potential short-term bullish bias if the 9.70 level holds.

Looking ahead, ENSUSDT may test key resistance at 9.77–9.80 if buyers re-enter the market. However, a breakdown below 9.63 could accelerate downward momentum toward 9.55. Traders should remain cautious as volatility remains high and directional bias is unclear.