Market Overview for Ethereum Name Service/Tether (ENSUSDT): 2025-09-15 24-Hour Summary

• ENSUSDT rose from $23.67 to $24.30 before retracing toward $23.70.
• Volatility expanded during the 04:30–05:30 ET rally, with volume spiking to over 11,000.
• Momentum in the RSI suggests overbought conditions during the peak, now in neutral territory.
• Bollinger Bands show a moderate expansion, with price near the upper band during the high.
• A key support at $23.70–$23.80 may hold, with resistance near $24.10–$24.25.

Ethereum Name Service/Tether (ENSUSDT) opened at $23.67 on 2025-09-14 12:00 ET, surged to a high of $24.30, and closed at $23.70 on 2025-09-15 12:00 ET. The 24-hour volume totaled approximately 55,756 units with a notional turnover of around $1,356,582.

1. Structure & Formations

The price structure showed a strong bullish impulse from 04:30 to 05:30 ET, reaching a local high of $24.30, followed by a sharp pullback. A key resistance cluster formed near $24.10–$24.30, while support levels appear consolidated between $23.70 and $23.80. A bullish engulfing pattern formed during the rally, but a long upper shadow on the $24.0–24.1 candle suggests hesitation at higher levels.

Key Resistance Levels:

- $24.10–$24.30 (major cluster)
- $23.90–$23.95 (immediate pullback resistance)

Key Support Levels:

- $23.70–$23.80 (immediate)
- $23.58 (previous low from earlier in the session)

2. Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages trended upward during the morning rally but began flattening after 06:00 ET as the price corrected. The 200-period daily MA would need to be referenced for a longer-term context, but short-term momentum is now neutral.

3. MACD & RSI

The RSI reached an overbought level near 75 during the peak before retreating to 45–50, suggesting a potential pause in momentum. The MACD histogram showed a strong positive divergence during the rally but has since turned negative, indicating bearish pressure in the aftermath of the surge.

4. Bollinger Bands

Bollinger Bands expanded significantly during the 04:30–06:00 ET rally, with the price reaching the upper band at its peak. This expansion indicates increased volatility and heightened interest in the pair. Currently, price is within the channel, but closer to the lower band, suggesting a possible retest of the $23.70 level.

5. Volume & Turnover

Volume surged to over 11,000 during the 04:30–05:30 ET rally and again around 07:45–08:00 ET, when the price corrected. Notional turnover increased proportionally, confirming the price moves. The most recent volume spike at 07:45 ET coincided with a sharp price drop from $23.94 to $23.70, signaling potential profit-taking or panic selling.

6. Fibonacci Retracements

Applying Fibonacci retracement levels to the $23.67–$24.30 swing, key retracement levels include:

• 38.2% at ~$23.97
• 50% at ~$23.985
• 61.8% at ~$24.00

The price has now settled near the 50%–61.8% level, suggesting potential consolidation or a possible retest of the 38.2% level before resuming an upward or downward trend.

Backtest Hypothesis

A potential backtesting strategy could involve entering long positions on a break above the 24.10–24.30 resistance cluster, confirmed by a bullish engulfing pattern and increasing volume. Stop-loss placement could be set just below the 23.80–23.70 support level, with a target at the next resistance or a Fibonacci extension target. This setup would aim to capture short-term momentum during a clear breakout scenario, leveraging volume confirmation and pattern clarity for high-probability trades.