Market Overview for Ethereum Name Service/Tether (ENSUSDT)

Generated by AI AgentAinvest Crypto Technical RadarReviewed byAInvest News Editorial Team
Wednesday, Jan 7, 2026 6:21 pm ET1min read
ENS
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Aime RobotAime Summary

- ENSUSDT formed a double-bottom near 10.70, rebounding to 10.98 amid oversold RSI and surging 18:00–19:00 ET bearish volume.

- Price remained below 20-period MA with widened Bollinger Bands, signaling heightened volatility and weak near-term momentum.

- Fibonacci 61.8% support (~10.92) and 78.6% resistance (~11.09) influenced short-term movements during the rebound phase.

- Traders monitor 11.15–11.20 resistance for potential breakouts, while a breakdown below 10.92 risks renewed selling pressure.

Summary
• Price dropped to 10.70 before rebounding to close near 11.03 on a bearish reversal pattern.
• RSI entered oversold territory, indicating potential short-term buying interest.
• Volume surged during the 18:00–19:00 ET selloff, showing increased bearish conviction.
• Price remained below the 20-period moving average, suggesting weak near-term momentum.
• Bollinger Bands widened after the early drop, reflecting increased volatility.


Ethereum Name Service/Tether (ENSUSDT) opened at 11.01 at 12:00 ET − 1, reached a high of 11.28, fell to a low of 10.70, and closed at 10.98 as of 12:00 ET. Total volume for the 24-hour window was 244,289.2 and turnover reached 2,735,876.66.

Structure & Formations


The price action displayed a bearish breakdown and potential bullish reversal near 10.70–10.80, forming a possible double-bottom setup. A key support level appears to have been established around 10.70, with resistance forming at 11.03 and 11.12. A morning doji and a bullish engulfing pattern in the early hours suggested a short-covering rally.

Moving Averages


The 20- and 50-period moving averages on the 5-minute chart remained bearish throughout the session, keeping the price underneath both. On the daily chart, the 50/100/200 SMA setup reinforced a neutral-to-bullish trend, with
ENSUSDT
hovering just below the 200 SMA.

MACD & RSI


The MACD showed bearish divergence during the initial drop, followed by a narrowing histogram as buyers stepped in. RSI bottomed in oversold territory around 30, signaling possible short-term relief for bulls. However, it remains below the 50 threshold, suggesting continued bearish bias in the near term.

Bollinger Bands


Bollinger Bands expanded significantly after the price drop, indicating heightened volatility. The rebound brought the price into the upper half of the bands by the late morning, pointing to a potential retest of the 11.15–11.20 zone before a potential pullback.

Volume & Turnover


Volume spiked sharply during the selloff between 18:00 and 19:00 ET, confirming bearish sentiment. Turnover increased in tandem, with no notable divergence, suggesting the selling pressure was conviction-driven.

Fibonacci Retracements

Fibonacci levels showed strong relevance after the selloff, with the 61.8% level (~10.92) acting as a key support during the rebound. The 78.6% retrace (~11.09) became a temporary resistance, with price showing hesitation before pushing higher.

Looking ahead, traders may watch for a test of the 11.15–11.20 resistance zone and a potential follow-through rally. However, a break below 10.92 could trigger renewed selling pressure. As always, volatility remains high, and positions should be managed carefully given the uncertain short-term direction.