Market Overview for Ethereum Classic/Tether (ETCUSDT) – 24-Hour Summary

• ETHECTC/USDT broke above key resistance at $19.70, closing near its 24-hour high of $19.82 amid rising volume.
• RSI reached 64, suggesting near-overbought conditions with potential for consolidation or a pullback.
• Volatility expanded with a 15-minute range of $19.52–$20.11, driven by a late-day bullish breakout.
• Bollinger Bands contracted during the night before a sharp move upward, indicating a likely trend continuation.
• Total notional turnover surged over $230,000, with 15-minute volume spiking above 10,000 during the breakout.

Ethereum Classic/Tether (ETCUSDT) opened at $19.73 on October 5, 2025, at 12:00 ET, reached a high of $20.11, and closed at $20.07 by 12:00 ET October 6. Total volume for the 24-hour period was 23996.27 with a turnover of approximately $467,142. A late-day breakout and a strong bullish bias marked the session, with increasing participation.

Structure & Formations

Key support was identified at $19.43 and $19.52, with the price consolidating within this range overnight before a decisive upward breakout. The morning saw a bearish engulfing pattern at $19.43–$19.40, signaling a potential reversal that failed. A strong bullish flag pattern developed between $19.54 and $19.60, followed by a higher-volume breakout. A morning doji near $19.43 indicated indecision, but the market closed decisively above $19.70. A strong bullish candle at $20.17 marked the high of the session.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages were bullish, with price maintaining a clear above-average bias. For daily analysis, the 50- and 100-period moving averages were bullish, while the 200-period line showed a slight bearish divergence. However, the closing price comfortably above the 200-day MA suggested a continuation of the longer-term bullish trend.

MACD & RSI

The MACD remained in positive territory throughout the 24-hour period, with a recent bullish crossover and a strong positive divergence. The RSI reached 64 by the close, suggesting near-overbought conditions and a possible pause or retest of key resistance. Momentum appears to be building, but a pullback to retest the $19.80–$19.85 zone could occur.

Bollinger Bands

Bollinger Bands showed a sharp contraction during the early hours, suggesting a period of consolidation before a breakout. The bands expanded significantly during the breakout phase, with price staying above the upper band during the late-day surge. This expansion indicates heightened volatility and a strong directional move. Traders should watch for price to potentially pull back toward the mid-band or test the lower band if a reversal occurs.

Volume & Turnover

Volume spiked significantly during the morning and late afternoon, particularly around $19.57 and $20.17. The final 15-minute candle showed the highest turnover of the session, confirming the breakout. A divergence between price and volume was not observed, which supports the validity of the bullish move. However, a sharp drop in volume during a pullback could indicate weakening momentum.

Fibonacci Retracements

Fibonacci retracements for the morning swing placed key levels at 38.2% at $19.66 and 61.8% at $19.59, both of which were respected. For the daily move, the 38.2% retracement level was around $19.68, which was broken during the breakout. The 61.8% level at $19.76 held briefly before the final surge. The current price is above the 100% extension, suggesting a possible continuation or consolidation.

Backtest Hypothesis

Given the recent bullish breakout and strong momentum as indicated by the MACD and RSI, a backtesting strategy could be built around a breakout and momentum continuation model. A possible setup would involve entering long positions on a close above $19.80 with a stop-loss just below $19.70 and a take-profit at $20.20 or the next Fibonacci extension. The high volume and lack of divergence during the breakout increase the probability of the trade holding. This approach aligns with the observed bullish candlestick patterns and the strong support/resistance dynamics noted in the 24-hour chart.