Ethereum Classic Market Overview

• Ethereum Classic traded in a 24-hour range of $20.33 to $21.68, with a 15-minute close near the lower end at $20.43.
• A bearish reversal pattern emerged at $21.62–$20.87, suggesting possible short-term exhaustion in the rally.
• Volatility expanded significantly from 19:00 to 20:15 ET, with volume surging above 20,000 ETH as the price declined.
• RSI hit oversold levels below 30, hinting at potential near-term buying interest.
• Bollinger Bands widened during the 20:00–20:45 ET session, indicating a period of heightened price uncertainty.

Ethereum Classic (ETCUSDT) opened at $21.41 on 2025-07-31 at 12:00 ET, reached a high of $21.68, a low of $20.33, and closed at $20.43 on 2025-08-01 at 12:00 ET. Total volume was approximately 280,000 ETH, and notional turnover stood at around $5.7 million over the 24-hour window.

Structure & Formations

The 15-minute chart reveals a bearish reversal pattern beginning at $21.62, with a subsequent breakdown to $20.87 before consolidating around $20.43. Key support levels were identified at $20.50 and $20.33, both showing consolidation or rejection at those levels. A bearish engulfing pattern was visible during the 20:15–20:30 ET window as price broke below the prior candle’s body.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages were both trending downward, confirming bearish momentum. Price frequently tested the 50-period MA but failed to hold above it after 20:00 ET. On the daily chart, Ethereum Classic closed below both the 50-day and 200-day MAs, reinforcing the bearish bias.

MACD & RSI

The MACD histogram showed bearish divergence during the 20:00–21:15 ET window, with the MACD line crossing below the signal line. The RSI reached oversold levels below 30 during the 00:15–01:15 ET window, suggesting potential for a near-term bounce, though it failed to close above 40.

Bollinger Bands

Volatility expanded significantly during the 20:00–20:45 ET session, with price reaching the lower Bollinger Band and staying near it for over an hour. The bands had been contracting prior to this, indicating a period of consolidation before the breakout.

Volume & Turnover

Volume spiked sharply during the 20:15–20:45 ET window, with over 23,000 ETH traded in a 30-minute period as price dropped to $20.4. Notional turnover also rose during this time, confirming the bearish move. However, volume declined significantly after 04:30 ET, suggesting a lack of conviction in the current price range.

Fibonacci Retracements

Applying Fibonacci retracements to the 21.3–21.68 swing, the price found temporary support at the 61.8% level ($21.15) before continuing lower. On the daily chart, a 61.8% retracement level at $20.65 appears to be a critical point for near-term buyers.

Ethereum Classic appears to be consolidating at the lower end of its recent range, with oversold conditions and declining volume suggesting a potential short-term bounce. However, bearish momentum remains intact, and a break below $20.33 could open the door to further downside. Investors should remain cautious and watch for volume confirmation on any upward moves.