Market Overview: Ethereum Classic Tether (ETCUSDT) Nears 24-Hour High Amid Rising Momentum

Summary
• Ethereum Classic/Tether (ETCUSDT) formed a bullish breakout above 13.35 on expanding volume.
• Price retested 13.14–13.29 range support with a confirmed bounce into overbought RSI territory.
• Volatility expanded after 02:00 ET, with a 13.46–13.57 swing capped by Bollinger Band resistance.

Ethereum Classic/Tether (ETCUSDT) opened at $13.02 on 2025-12-07 12:00 ET, reached a high of $13.60, and closed at $13.45 as of 2025-12-08 12:00 ET, with a low of $12.92. Total volume amounted to 204,683.18 ETHC, and turnover reached $2.76 million.

Structure & Formations

Price found a key support floor between 13.14 and 13.29, where a bullish reversal pattern emerged after a sharp decline. A strong green candle at 02:00 ET-1 confirmed the breakout above 13.35, followed by a continuation into the 13.45–13.57 range. A bearish engulfing pattern at 15:00 ET-1 signaled possible near-term consolidation.

Moving Averages

On the 5-minute chart, price remained above the 20-period and 50-period SMAs after 03:00 ET, suggesting short-term bullish bias. Daily moving averages showed mixed signals, with price just above the 50-period SMA but below the 100- and 200-period SMA, indicating mid-term uncertainty.

MACD & RSI

Momentum surged after 02:00 ET with a MACD crossover into positive territory and a strong RSI push into overbought levels above 70. However, a pullback since 15:00 ET-1 has brought RSI closer to 50, hinting at potential sideways movement in the near term.

Bollinger Bands

Volatility expanded after 02:00 ET-1, widening the Bollinger Bands as price surged toward the upper band. By 15:00 ET-1, the price began consolidating closer to the middle band, suggesting a possible pause in the upward thrust.

Volume & Turnover

Volume spiked during the 02:00–05:00 ET-1 window, aligning with the breakout above key resistance. However, turnover began to lag slightly after 15:00 ET-1 as price pulled back, raising questions about the sustainability of the recent bullish move.

Fibonacci Retracements

On the 5-minute chart, price found support near the 61.8% level of the 13.29–13.60 swing before pulling back. Daily Fibonacci levels indicate a key 38.2% retracement at 13.22, which has acted as a floor twice over the 24-hour window.

Ethereum Classic/Tether could continue testing the 13.57 high if momentum remains firm above the 13.45–13.50 zone. However, traders should be cautious of overbought RSI levels and divergences in volume, which may hint at a near-term correction. A close below 13.35 could shift the near-term bias to neutral.