Market Overview for Ethereum Classic/Tether (ETCUSDT)

Summary
• Price consolidated between 12.34 and 12.47, with a 5.3% range.
• A bullish engulfing pattern formed at 12.31–12.37.
• RSI suggests oversold conditions below 30 in the late session.
• Volume spiked 3x above average in late-ET morning hours.
• A 61.8% Fibonacci retracement level is near 12.35.

Ethereum Classic/Tether (ETCUSDT) opened at 12.40 on 2025-12-19 at 12:00 ET, hit a high of 12.61, a low of 12.18, and closed at 12.47 as of 12:00 ET on 2025-12-20. Total volume amounted to 181,120.99, with a turnover of approximately $2.21 million over the 24-hour period.

Structure & Formations

The 24-hour price action saw key support levels at 12.31–12.35 and resistance at 12.45–12.47. A notable bullish engulfing pattern appeared between 12.31 and 12.37 on the 5-minute chart, suggesting a possible short-term reversal. A doji formed at 12.42, signaling indecision.

. Fibonacci levels indicate a potential bounce from the 61.8% retracement at 12.35.

Moving Averages

On the 5-minute chart, the 20-period and 50-period moving averages crossed in the morning session, forming a bullish crossover. On the daily chart, the 50-period MA sits above the 200-period MA, indicating a longer-term bullish bias.

MACD & RSI

MACD crossed above the zero line in the late morning, signaling renewed buying momentum. RSI fell below 30 in the late session, pointing to oversold conditions. This could support a near-term rebound, though a breakout above 12.50 would be needed to confirm a sustained upswing.

Bollinger Bands

Volatility expanded during the early morning ET, with price testing the upper band at 12.47. By late afternoon, the bands had contracted slightly, with the price near the midline, suggesting consolidation before a potential breakout.

Volume & Turnover

Volume spiked in the late morning ET, exceeding average levels by over threefold. Turnover increased in line with volume, showing consistent price action and no signs of divergence. A volume-based confirmation of the bullish engulfing pattern adds credibility to potential upward movement.

Forward-Looking Insight

The price appears to be consolidating above 12.35, with key resistance near 12.47. A break above 12.50 could trigger a larger move. Investors should remain cautious of volatility shifts and watch for a breakout or breakdown in the next 24 hours.