Market Overview for Ethereum Classic/Tether (ETCUSDT) – 2025-10-31

• Ethereum Classic/Tether (ETCUSDT) closed near a 24-hour high, showing strong upward momentum after a mid-day pullback.
• A bullish breakout above 15.42 suggests potential for 16.19 resistance, with a 20-EMA crossing the 50-EMA confirming the trend.
• RSI hit overbought levels, indicating possible near-term pullbacks, while volume surged during the final 5 hours, supporting the rally.
• Bollinger Bands widened, reflecting increased volatility, with price closing near the upper band, signaling potential continuation or correction.
• A prior bearish divergence in volume was resolved, but Fibonacci retracement levels at 15.73 and 15.92 may offer key support/resistance next.

Price Action Summary

Ethereum Classic/Tether (ETCUSDT) opened at $15.29 on October 30 at 12:00 ET and closed at $15.75 at 12:00 ET the following day, reaching a 24-hour high of $16.19 and a low of $14.85. Total traded volume amounted to 469,389.27, while notional turnover stood at $7,349,137.95. The pair experienced a volatile session with a clear bullish bias after the mid-day low at 14.85.

Structure & Moving Averages

The 15-minute OHLC data shows a strong bullish engulfing pattern forming around 16:00 ET on October 30, with a subsequent retest of the breakout level at 15.42. On the 15-minute chart, the 20-EMA crossed above the 50-EMA (bullish crossover), confirming short-term momentum. The 50-EMA is currently around 15.38, offering dynamic support. Daily chart indicators show the 50-EMA at 15.55, the 100-EMA at 15.49, and the 200-EMA at 15.43, with price comfortably above all, suggesting strong short-to-medium-term bullish positioning.

MACD, RSI & Momentum

The 15-minute MACD line showed a sharp rise in the last 6 hours, ending the period with a positive divergence and a bullish histogram. RSI climbed to overbought territory (~75), indicating possible near-term corrections or consolidation. However, the recent price surge was accompanied by strong volume, mitigating immediate overbought concerns. A bearish divergence in RSI and volume was observed at 15.01 but has since been resolved, with price and momentum aligning.

Bollinger Bands & Volatility

Bollinger Bands expanded significantly after the mid-day low, reaching a width of ~0.28 at 16:00 ET. Price closed near the upper band at $15.75, signaling potential continuation or a short-term reversal. The mean reversion effect appears subdued due to strong buying pressure. The mid-band at ~15.55 serves as a pivot level to watch. Volatility is expected to persist as the pair tests key Fibonacci levels in the next 24 hours.

Volume & Turnover Analysis

Volume increased steadily after the 17:30 ET low on October 30, peaking at $15.92 with a 15-minute volume of 45,264.21, corresponding to $7,239,278.62 in turnover. A clear convergence between price and volume was observed during the final 5 hours, reinforcing the bullish trend. Divergences in volume were resolved, and the final 4 hours saw a 48% increase in average 15-minute turnover compared to the morning session. This suggests a high degree of participation from both retail and institutional buyers.

Fibonacci Retracement Levels

Fibonacci retracements applied to the recent 15-minute swing from $14.85 to $16.19 highlight key levels: 38.2% at $15.73, 61.8% at $15.92. The current close at $15.75 is near the 38.2% level, suggesting a potential consolidation area or retest. The daily chart shows a larger retracement from $14.30 to $16.25, with 61.8% at $15.60, which was briefly tested but held. Traders should watch these levels for potential continuation or reversal signals.

Backtest Hypothesis

A potential backtest strategy could involve a short-term breakout system using the 20-EMA and 50-EMA crossover as entry triggers, with stop-loss levels at the 61.8% Fibonacci retracement (15.92) and take-profit at the 16.19 high. However, an internal data-fetching error occurred when attempting to retrieve ETC price data using the ticker “ETCUSD.UDC,” which likely does not match the expected price feed. To resolve this, consider using “ETCUSDT.UDC” (the more commonly quoted pair) or specify an exchange and date range explicitly. If a custom price file is available, that could also be used to bypass the issue. The strategy’s success would depend on confirming volume spikes and momentum divergence at critical Fibonacci levels.