Market Overview for Ethereum Name Service/Tether (ENSUSDT)

Summary
• ENSUSDT forms bullish and bearish reversal patterns in late-night and morning sessions.
• Price consolidates near 10.30–10.45 support/resistance cluster, with mixed momentum signals.
• Volume spikes during sharp declines into the early hours but weakens during rebounds.
• RSI suggests potential overbought conditions in early morning rallies.
• Volatility contracts during overnight hours before expanding again after 12:00 ET.

Ethereum Name Service/Tether (ENSUSDT) opened at $10.43 on 2026-01-17 12:00 ET, reached a high of $10.57, a low of $10.20, and closed at $10.34 by 2026-01-18 12:00 ET. Total volume for the 24-hour period was 162,431.45, with notional turnover of $1,670,774.50.

Structure & Formations

Price action over the past 24 hours shows multiple key levels forming in the $10.30–$10.45 range, with the 10.32–10.33 level acting as a minor support and the 10.43–10.45 range functioning as resistance. A bearish engulfing pattern appears at the $10.53 level during the 18:30–18:45 ET period, followed by a bullish reversal candle at $10.28 in the early morning hours. A potential bullish morning star pattern emerges around 04:45–05:30 ET as price recovers from the early-session low.

Moving Averages

On the 5-minute chart, the 20-period MA crossed above the 50-period MA during the 21:00–21:30 ET window, signaling a potential short-term bullish momentum. However, by 03:00–04:00 ET, the 50-period MA crossed below the 20-period MA, indicating a shift in trend. The daily 50-period MA has held above the 200-period MA, suggesting a longer-term positive bias, although this appears to be challenged by the overnight pullback.

MACD & RSI

MACD showed a bearish crossover during the 02:30–03:00 ET session as momentum diverged from the price action, and a bullish crossover occurred shortly after 06:00 ET. RSI reached overbought territory during the early morning rebound but failed to break above 65 and quickly retreated to neutral levels by 09:00 ET. This suggests a lack of conviction in the upward moves.

Bollinger Bands

Volatility tightened significantly between 01:00–05:00 ET as price moved within a narrow range between 10.25 and 10.29, followed by an expansion after 06:00 ET as price broke out. Price spent much of the day oscillating within the upper and middle Bollinger Bands, indicating a sideways-to-bullish bias during the latter half of the session.

Volume & Turnover

Volume spiked during the bearish phase between 01:15–01:45 ET as price dropped from $10.34 to $10.29, with over 2,650 contracts traded. Turnover also spiked during this time, confirming the bearish move. However, volume weakened during the recovery attempts from 04:00–06:00 ET, indicating weaker buying pressure. This divergence raises questions about the strength of the upward moves.

Fibonacci Retracements

On the 5-minute chart, a 61.8% Fibonacci retracement level appears near the $10.45 level from the high of $10.57 to the low of $10.20, which aligns with recent resistance. This level may act as a key inflection point in the near term. On the daily chart, the 38.2% retracement of the recent swing is aligned with the current price, suggesting a potential consolidation or reversal phase.

The market appears to be in a period of consolidation after a sharp overnight sell-off. A successful break above $10.45 could see renewed short-term bullish momentum, while a close below $10.30 may open the door to further downside toward $10.20. Investors should remain cautious, as volatility remains moderate and trend direction remains uncertain in the near term.