Market Overview for Ethereum Name Service/Tether (ENSUSDT)

Summary
• Price broke above key resistance near $11.55, closing near a 24-hour high at $11.96 with strong volume.
• Momentum accelerated post-noon ET, with RSI reaching overbought territory and MACD showing a bullish crossover.
• Volatility expanded as Bollinger Bands widened, indicating a potential continuation or consolidation phase ahead.

Ethereum Name Service/Tether (ENSUSDT) opened at $11.40 on 2025-12-08 12:00 ET and closed at $11.96 at 12:00 ET on 2025-12-09. The pair hit a high of $11.98 and a low of $11.14 over the 24-hour period. Total volume amounted to 72,068.94, with a turnover of approximately $829,346.

Structure & Formations

Price action on the 5-minute chart displayed a bullish breakout after forming a descending triangle pattern near $11.63–$11.73. A strong engulfing candle at 16:45 ET confirmed the breakout above key resistance levels. A doji at 12:00 ET on 12/09 marked a pause before the rally resumed.

Moving Averages

On the 5-minute chart, the 20-period and 50-period moving averages were both bullish, with price trading above both. For the daily chart, price remains above all major MAs, suggesting continued long-term bullish momentum.

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MACD & RSI

MACD crossed above the zero line at 15:45 ET, signaling a bullish momentum shift. RSI surged into overbought territory after the breakout, reaching 75 at 16:15 ET, suggesting short-term volatility could be followed by a pullback or consolidation.

Bollinger Bands

Volatility expanded significantly in the afternoon, with bands widening from a narrow contraction observed in the early hours. Price closed near the upper band, indicating strength and potential continuation of the upward move.

Volume & Turnover

Trading volume surged during the breakout, especially between 16:00 and 17:00 ET, with one candle showing over 7,000 volume units. Notional turnover also increased in tandem with price, confirming the strength of the breakout.

Fibonacci Retracements

On the 5-minute chart, the move from $11.14 to $11.98 saw price retest the 61.8% retracement level at $11.66 before breaking higher. Daily Fibonacci levels suggest potential resistance at $11.85 and $12.00.

Looking ahead, ENSUSDT may test $12.00 as the next key level, with a potential pullback to the 50-period MA expected if volatility slows. Investors should monitor for a bearish divergence in RSI or a breakdown below $11.73 as possible risk triggers.