ETCUSD Market Overview

• ETCUSD traded in a narrow range for much of the 24 hours, with a sharp rally from $21.37 to $21.85 in the early morning.
• Key resistance at $21.85 was briefly tested but failed to break, while support at $21.37 held firm throughout the session.
• Volume spiked during the $21.85 high but returned to near zero after 06:00 ET, indicating limited follow-through buying.
• RSI reached overbought levels briefly but has since corrected, suggesting short-term momentum may be moderating.
• Bollinger Bands show a period of low volatility followed by a narrow consolidation phase near the mid-band.

Market Overview

Ethereum Classic (ETCUSD) opened at $21.37 at 12:00 ET–1 and closed at $21.73 at 12:00 ET, reaching a high of $21.85 and a low of $21.37. The 24-hour volume was 112.08 and total turnover amounted to $2,450.89. The price action unfolded in a tight consolidation pattern before a sharp but short-lived breakout in the early hours.

Structure & Formations

The ETCUSD price action formed a bearish engulfing pattern at $21.85 to $21.73, followed by a series of doji near $21.73—suggesting indecision among buyers. The key resistance at $21.85 was touched but failed to hold, and the $21.37 level remained strong support, indicating a possible range-bound continuation in the near term.

Moving Averages

On the 15-minute chart, price briefly pierced above the 20-period and 50-period moving averages during the early morning rally but quickly returned below them. Daily moving averages (50/100/200) remain neutral, with ETCUSD hovering near the 50-day line, suggesting a continuation of the broader sideways trend is likely if no strong directional impulse emerges.

MACD & RSI

The MACD showed a brief positive divergence during the rally to $21.85, but the signal line did not confirm a strong buy signal. RSI reached 73 in the early morning—a typical overbought threshold—before retracing to around 58 by the close, indicating that short-term momentum has cooled and a pullback into the $21.65–$21.73 range may be imminent.

Bollinger Bands

Volatility remained low throughout most of the 24 hours, with price moving within a narrow range inside the Bollinger Bands. A slight expansion occurred around the $21.85 high, but the bands have since retracted. ETCUSD closed near the mid-band, suggesting a continuation of consolidation is probable in the near term.

Volume & Turnover

Volume surged during the $21.85 high but then dropped sharply after 06:00 ET, indicating weak confirmation from buyers. Turnover spiked correspondingly during the breakout attempt but also fell quickly. The divergence between price and volume suggests the move higher was driven by concentrated, rather than broad, buying interest.

Fibonacci Retracements

Fibonacci retracements on the recent 15-minute swing (from $21.37 to $21.85) show ETCUSD closing near the 61.8% level at $21.73. On the daily timeframe, the 38.2% retracement from a recent major swing appears to act as a temporary floor, suggesting a possible bounce from this level in the next 24 hours.

Ethereum Classic may continue in a tight range near $21.73 in the next 24 hours, with the potential for a pullback to the $21.65–$21.70 zone if bears gain control. Traders should remain cautious for any breakout above $21.85, as this could signal the beginning of a new upward phase.