Market Overview for Ethereum Classic/Tether (ETCUSDT) – 2025-09-21

• ETHEUSDT/ETCUSDT opened at $20.37, hit $20.40 high, dropped to $19.84 low, and closed at $19.95 by 12:00 ET.
• A sharp bearish breakdown occurred, with a 24-hour low of $19.84 and a -2.17% close from the prior day’s open.
• Volatility spiked with a high turnover of $348,140 from the 09:30 ET candle, signaling panic selling.
• RSI dipped below 30 into oversold territory, suggesting a potential short-term rebound.
• Bollinger Bands showed price nearing the lower band, with a contraction preceding the breakdown.

The Ethereum Classic/Tether (ETCUSDT) pair opened at $20.37 at 12:00 ET–1 and reached an intraday high of $20.40. Price quickly declined to an intraday low of $19.84 by 09:45 ET, closing at $19.95 at 12:00 ET. Total volume across the 24-hour period was 194,736 contracts, while notional turnover reached approximately $3.97 million.

Structure and key levels suggest a bearish bias following a breakdown from a multi-hour consolidation pattern. A notable bearish engulfing candle formed at 09:15 ET, confirming a shift in sentiment. Support levels are forming around $19.84 (24-hour low) and $19.77 (Fib 61.8% from the prior leg high). Resistance could appear at $20.00 and $20.05, where the pair may find buyers after a short-term bounce.

Momentum indicators like the RSI and MACD reinforced the bearish move, with the RSI dropping below 30 and the MACD line crossing below the signal line in the early hours. The pair remained near the lower Bollinger Band for much of the session, indicating heightened volatility and bearish pressure. A contraction in the Bollinger Band width occurred before the breakdown, a technical sign that a move could be imminent.

Volume surged during the breakdown, especially around the 09:30 ET candle, where $348,140 in turnover signaled panic selling. However, the volume declined following the $19.84 low, suggesting that the move may be exhausted. A divergence between the price and volume should be monitored, as it could signal a reversal or continuation.