ETC +170.82% in 24 Hours Amid Sudden Bullish Surge

On SEP 8 2025, ETC surged by 170.82% within 24 hours, reaching a price of $20.93. Over the last 7 days, the digital asset gained 4.8%, and over a 30-day period, it appreciated by 77.37%. Despite these recent gains, it is noted that ETC has declined by 1683.96% over the past year. The dramatic price movement within the last 24 hours has drawn attention from market observers.

The surge in ETC’s value over the past day suggests a sharp and unexpected shift in market sentiment. While the broader yearly decline remains significant, the recent upward momentum indicates a potential reversal or at least a temporary bounce. Analysts project that the movement could be attributed to a combination of algorithmic trading strategies, on-chain activity, and possibly a re-rating of the asset class as a whole. However, no definitive public event has been cited to explain the sudden rally.

The market response to ETC’s rapid increase has been mixed. Some market participants interpret the move as a sign of a broader industry resurgence, citing similar patterns in other digital assets. Others caution that the rise may be short-lived, pointing to the overall bearish context over the past year. ETC’s 7-day and 30-day gains suggest that the asset is experiencing a period of reaccumulation, but it remains to be seen whether this is the start of a sustained recovery or a fleeting spike.

Technical indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) have shown signs of divergence in recent days. The RSI has entered overbought territory following the sharp price increase, which historically has led to pullbacks or consolidation. The MACD has also crossed above the signal line, signaling potential bullish momentum. These indicators are commonly used in developing algorithmic trading strategies and could serve as the basis for the recent market action.

Backtest Hypothesis

A backtesting strategy was recently deployed, aiming to evaluate the effectiveness of a technical trading model based on the RSI and MACD indicators. The strategy involves initiating long positions when RSI crosses above 30 and MACD crosses above its signal line, with exits triggered when either indicator reverts to neutral or bearish levels. The model is designed to capture short- to medium-term bullish moves while managing drawdowns during overbought conditions. Given ETC’s recent movement, the strategy may have entered a long position at or near the bottom of the recent rally. The performance of this backtest could provide insights into the potential sustainability of ETC’s recent momentum and whether algorithmic capital is playing a role in the asset’s price behavior.