Market Overview for Enzyme (MLNUSDT) – August 25, 2025

• Enzyme (MLNUSDT) closed 1.27% lower at 8.32, breaking below key intraday support levels.
• Volatility spiked during the NY open with a 25.6% high-low range before consolidating.
• A bearish engulfing pattern emerged in the 11:15–11:30 ET window, signaling momentum shift.
• Turnover diverged from price, with volume peaking at 15146.308 but price trending downward.
• RSI (15-min) hit overbought levels (76) at 19:30 ET, followed by a sharp bearish correction.

Market Overview

Enzyme (MLNUSDT) opened at 8.70 on August 24 at 12:00 ET, surged to a 24-hour high of 8.90, and closed at 8.32 at 12:00 ET on August 25. Total volume was 151,463.08, with a notional turnover of approximately $1,251,429 (based on USD averages). The price action reflects a volatile session marked by sharp retracements and divergences in volume and momentum.

Structure & Formations

Price formed a bearish engulfing pattern at 11:15–11:30 ET, opening at 8.47 and closing at 8.29 after reaching a low of 8.28. This pattern, coupled with a 1.14% drop in a single candle, confirmed a shift in sentiment. Key support levels at 8.56 and 8.30 were tested and broken, while resistance at 8.72, 8.78, and 8.86 held briefly during the early session.

Moving Averages

On the 15-minute chart, the 20-period MA crossed below the 50-period MA, forming a death cross, which reinforced bearish momentum. Daily MAs suggest the 50-day MA at ~8.78 is critical; a break below the 100-day MA (~8.87) could open the door to further bearish territory.

MACD & RSI

MACD turned negative by mid-session and remained below the signal line, confirming bearish divergence. RSI (15-min) peaked at 76 at 19:30 ET before plunging below 40 by 23:45 ET, indicating exhausted bullish momentum and a shift toward oversold territory. This may hint at short-term consolidation or a rebound if buyers step in near 8.30–8.35.

Bollinger Bands

Volatility expanded sharply after 17:30 ET, with the upper band reaching 8.82 and the lower band touching 8.56. By the close, price remained near the lower band at 8.32, suggesting a potential bounce back toward the mid-band (~8.45) in the near term.

Volume & Turnover

Volume spiked to 151,463.08 during the 11:15–11:30 ET candle, the highest of the session, but price continued lower—indicating a potential divergence. Turnover dropped from $36,245 (18:30–18:45 ET) to $13,461 (11:15–11:30 ET), reflecting reduced liquidity as the price fell.

Fibonacci Retracements

Applying Fibonacci to the 15-minute swing from 8.28 to 8.90, the 61.8% retracement level is at 8.43 and the 38.2% level at 8.60. Price appears to have bounced from 8.30 and could find short-term support at 8.30–8.35, but a break below 8.28 would confirm a deeper pullback.

While a short-term rebound toward 8.43–8.47 is possible, the risk of a continuation lower into 8.20–8.25 remains, particularly if volume surges again without a price reversal. Investors should monitor volume for signs of accumulation or exhaustion near key levels.