Market Overview for Ethereum Classic/Tether (ETCUSDT) on 2025-12-17

Summary
• Ethereum Classic/Tether (ETCUSDT) traded in a 24-hour range of $12.18–$12.93, showing a bearish bias in late trading.
• A key resistance cluster emerged near $12.75–$12.85, with a potential support pivot at $12.40–$12.50.
• Volume and momentum signals suggest a period of consolidation after a sharp selloff in the early hours.
• RSI entered oversold territory below 30, hinting at possible short-term bounce potential.
• Bollinger Bands signaled a contraction in volatility, suggesting a potential break could be imminent.

Ethereum Classic/Tether (ETCUSDT) opened at $12.58 on 2025-12-16 at 12:00 ET, touched a high of $12.93, a low of $12.18, and closed at $12.42 by 12:00 ET the next day. Total volume reached 542,778.64, and notional turnover hit $6,780,794.63 during the 24-hour window.

Structure & Key Levels

The 24-hour candlestick pattern revealed a bearish reversal with a wide range and a long lower wick after reaching a high of $12.93. A potential bearish engulfing pattern formed near $12.93–$12.81, while a key support area appeared to form between $12.40–$12.50. A bearish divergence in price and volume was observed around $12.65–$12.75.

Momentum and Oscillators

The RSI dipped below 30 during the early morning hours, indicating an oversold condition that could precede a short-term bounce. However, the MACD remained negative throughout the session, reflecting weak bullish momentum. A potential bullish crossover in the RSI could signal a near-term pullback, but a confirmation in the MACD is needed to validate this.

Volatility and Bollinger Bands

Bollinger Bands showed a period of contraction in the early hours before expanding as the price fell sharply toward $12.18. The price spent much of the session in the lower half of the bands, suggesting low volatility and a possible setup for a breakout or breakdown.

Volume and Turnover

Notional turnover surged to over $6.7 million, with a large volume spike near the $12.18 low, signaling significant liquidation. However, volume declined in the afternoon as price action consolidated, suggesting a potential pause in selling pressure.

Fibonacci Retracements

On the 5-minute chart, the $12.65–$12.42 swing showed a possible 50% retrace at $12.54, which was tested but not held. On the daily timeframe, the $12.93–$12.42 range suggested a 61.8% level near $12.59, which could serve as a potential short-term resistance.

Looking ahead, a test of the $12.40 support or a retest of the $12.50–$12.59 level could be the next key near-term triggers. A breakout above $12.75–$12.85 may indicate renewed bullish momentum, but caution is warranted as the bears have shown strength in key areas. Investors should closely monitor volume and RSI for signs of a turning point.