ETC/USDT Market Overview: Bullish Reversal Amid Elevated Volatility

Summary
• Price opened at $12.22 and closed at $12.49, forming a bullish reversal pattern after a 24-hour decline.
• RSI rose into overbought territory, suggesting potential momentum fatigue or consolidation.
• Volatility expanded in the final hours, with Bollinger Bands widening and volume spiking near session highs.
• A 61.8% Fibonacci retracement level at $12.46 coincided with a key resistance cluster and recent price pivot.
• Divergence between volume and price emerged late in the session, hinting at cautious buyer behavior.

Ethereum Classic/Tether (ETCUSDT) opened at $12.22 on 2025-12-15 at 12:00 ET, reached a high of $12.65, and closed at $12.49 at 12:00 ET on 2025-12-16. The 24-hour trading session saw a total volume of 181,158.33 and notional turnover of $2,255,507.76.

Structure and Formations

Price action displayed a bullish reversal formation as ETC/USDT found support near $12.31 and surged past key resistance at $12.49.

A strong engulfing pattern formed in the 5-minute chart just before 16:45 ET, suggesting aggressive buying. The 61.8% Fibonacci retracement level of the $12.22 to $12.65 move was tested at $12.46, aligning with a cluster of recent resistance.

Technical Indicators

MACD showed a bullish crossover in the final 2 hours of the session, supporting the upward move. RSI climbed above 70 into overbought territory, which could signal a pause or consolidation phase. Bollinger Bands expanded significantly during the last 6 hours, indicating rising volatility and heightened market uncertainty.

Volume and Turnover

Volume increased notably in the last 4 hours, with a large candle at 16:45 ET contributing $12,600 in turnover alone. The spike in volume coincided with a sharp price increase, indicating conviction among buyers. However, divergences emerged in the final 30 minutes, with volume declining despite a modest price rise, hinting at potential short-term profit-taking.

Looking ahead, a break above $12.65 may attract further buyers, but a pullback to test the $12.46 level could confirm its role as a pivot. Investors should remain cautious of overbought conditions and potential consolidation, with volatility likely to persist in the near term.