Market Overview for Ethereum Classic/Tether (ETCUSDT) – 2025-11-05

Summary
• Price fluctuated between $13.53 and $14.79, with a closing near $14.69 after a sharp recovery from a mid-day dip.
• Volume surged to 73,751.93 units during a key bearish candle, followed by renewed buying interest late in the session.
• RSI showed oversold conditions in the mid-day trough, while MACD hinted at bullish momentum in the final hours.

Ethereum Classic/Tether (ETCUSDT) opened at $14.79 at 12:00 ET–1 and closed at $14.69 by 12:00 ET on 2025-11-05. The pair reached a high of $14.79 and a low of $13.53 over the 24-hour period. Total volume across the 24-hour window was 1,313,108.13, with a notional turnover of $18,888,589.17. The price action revealed a volatile but ultimately constructive pattern, as buying interest reemerged after a significant sell-off.

Structure & Formations

Price formed a bearish engulfing candle at 18:30 ET, confirming a short-term pullback. This was followed by a bullish recovery in the early morning, culminating in a strong green candle at 02:30 ET that closed near the high. A key support level appears to have held around $13.65–14.05, as the price bounced off that range multiple times. A notable doji formed at 23:45 ET, indicating indecision and a potential turning point.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages show a recent crossover to the upside, suggesting a shift in short-term bias. On the daily chart, the price is currently above the 50- and 100-period moving averages but below the 200-period line, indicating a mixed medium-term outlook. A retest of the 200-day MA may offer a directional filter.

MACD & RSI

The MACD crossed above zero in the early morning, confirming bullish momentum. The RSI dipped below 30 during the mid-day dip, signaling oversold conditions. By 04:00 ET, RSI had rebounded above 40, and the divergence between price and RSI suggested strengthening momentum. The RSI has since trended higher, but it has not yet entered overbought territory, leaving room for further upward movement.

Bollinger Bands

Volatility expanded significantly during the 18:30–20:00 ET window as the price dropped sharply below the lower band. This was followed by a contraction in the bands after 02:00 ET, as the price stabilized. The current price is trading near the upper band, suggesting a continuation of the recent bullish move may be possible, provided the upper band remains intact.

Volume & Turnover

Volume spiked during the 18:30–19:30 ET window, particularly on the candle that closed at $13.89, reflecting increased bearish sentiment. However, volume during the subsequent recovery in the early morning hours remained strong, confirming the resumption of bullish momentum. Turnover increased in tandem, reinforcing the conviction behind the price move.

Fibonacci Retracements

On the 15-minute chart, the price retested the 61.8% level of the recent swing low to high, which acted as a support and turned into a resistance on the retracement. The 50% and 38.2% levels coincided with key intraday pivot points and were tested multiple times, indicating potential areas of interest for near-term consolidation.

Backtest Hypothesis

Given the price structure and key support/resistance levels observed, a potential backtest strategy could focus on short-term breakout and reversal signals from the Fibonacci 50% and 61.8% levels, combined with RSI divergence and MACD crossovers to validate entries. Using the 20-period moving average as a filter could help isolate higher-probability setups. The exact ticker naming convention (e.g., ETCUSDT.BINANCE or ETCUSDT.COINBASE) is critical for accurate data retrieval. Confirming the correct symbol will ensure the backtest aligns with the observed on-chain activity and volatility patterns.

Forward Outlook

The next 24 hours may see a test of the $14.79 high, with a potential pullback to the $14.35–14.45 zone if resistance holds. Traders should watch for a breakdown of the 20-period moving average as a bearish signal, or a breakout above the $14.69 level to confirm renewed bullish momentum. Volatility remains elevated, and sudden shifts in sentiment could trigger sharp moves. Investors should remain cautious of potential divergence between price and volume.