Market Overview: Ethereum Name Service/Tether (ENSUSDT) 24-Hour Analysis

• ENSUSDT rose to $23.36 intraday, forming a bullish breakout from a tight consolidation range.
• 24-hour volume surged to 68,961.34, with the majority of volume clustered in the late ET afternoon session.
• Price closed at $23.31, up 5.74% from the previous 24-hour close of $22.07.
• RSI entered overbought territory (74), signaling potential near-term correction unless momentum persists.
• Bollinger Bands show widening volatility as price pushes through the upper band in the final 4.5 hours of the session.

The Ethereum Name Service/Tether (ENSUSDT) pair opened at $22.90 on 2025-09-15 at 12:00 ET, surged to a high of $23.36, and closed at $23.31 at 12:00 ET on 2025-09-16. The 24-hour notional volume reached approximately $1,548,272.70, driven by a total traded volume of 68,961.34 USDT. The pair broke out of a range-bound pattern in the final 6 hours, closing with strong bullish momentum.

Structure & Formations

The 15-minute chart displayed several bullish signals, including a bullish engulfing pattern during the 2025-09-15 18:00–18:15 ET timeframe. A key support level appeared to form around $22.77–22.83, while resistance expanded from $22.93 to $23.36. Notably, a three-wave upward structure emerged between 19:00 and 22:30 ET, forming a potential ascending triangle with a breakout at the $23.16 level. The final 3 hours of the session showed a strong push beyond prior resistance levels, forming a bullish continuation pattern.

Moving Averages

The 20- and 50-period moving averages on the 15-minute chart crossed over twice in the final 8 hours, signaling bullish momentum. The 50-period MA remained below the 20-period MA, suggesting short-term strength. On the daily chart, the 50-period MA is above the 200-period MA, indicating a positive intermediate-term bias. Price closed above the 50-period MA on the 15-minute chart, reinforcing the breakout.

MACD & RSI

MACD showed a bullish crossover with a rising histogram in the last 5 hours of the session, confirming the breakout. RSI moved into overbought territory (74), suggesting a potential pullback unless volume and momentum continue to rise. A divergence was observed between price and RSI during the 01:00–03:00 ET period, indicating a temporary loss of upward momentum.

Bollinger Bands

Price remained within the Bollinger Bands for most of the session but pushed above the upper band in the final 4.5 hours, indicating rising volatility and strong conviction in the bullish move. The narrowing of bands earlier in the day suggested a consolidation phase that ended with a decisive breakout.

Volume & Turnover

Volume spiked in the 18:00–22:30 ET period, with over 44,000 USDT traded in that window. Notional turnover reached its peak in the same timeframe, indicating strong buyer participation. A divergence between rising price and declining volume occurred briefly between 01:00–03:00 ET, suggesting temporary exhaustion.

Fibonacci Retracements

Fibonacci levels applied to the recent 15-minute swing from $22.77 to $23.36 show key resistance at 61.8% ($23.14) and 78.6% ($23.23). Price closed just above the 78.6% level, suggesting it may test the 88.6% extension at $23.36 in the next 24 hours. Daily Fibonacci levels also indicated support at $22.85 (38.2%) and $22.77 (61.8%).

Backtest Hypothesis

A backtesting strategy based on a breakout of the 15-minute ascending triangle with confirmation from the 20-period moving average crossover and MACD divergence may provide a high-probability entry into long positions. This approach aligns with the recent price action where the breakout was confirmed by strong volume and momentum. A stop-loss below the $22.85 support level would manage risk, with a target near $23.36 and a potential extension toward $23.45 if the 78.6% Fibonacci level holds.