Market Overview for Ethereum Classic/Tether (ETCUSDT)

• ETHEUSDT surged 4.73% over 24 hours, closing at $20.83, rebounding from an intraday low of $20.12.
• Price broke above a descending trendline after an early sell-off and bullish engulfing patterns emerged after 19:00 ET.
• MACD and RSI signaled strong momentum, with RSI hitting 63–66 and no signs of overbought conditions.
• Volatility expanded after 22:00 ET, as Bollinger Bands widened and volume spiked above average levels.
• Turnover reached a peak of $2.26M in a single 15-minute candle, suggesting active accumulation near key resistance levels.

24-Hour Price Summary

Ethereum Classic/Tether (ETCUSDT) opened at $20.24 on 2025-09-17 at 12:00 ET, dropped to a 24-hour low of $20.12, and closed at $20.83 by 12:00 ET on 2025-09-18. Total volume reached 502,829.06 and notional turnover hit approximately $10.3M, marking a significant increase in activity.

Structure & Formations

The 15-minute chart displayed a bullish reversal pattern after a sharp selloff early in the session. A bullish engulfing pattern formed around 19:30 ET, followed by a strong breakout above a key resistance level at $20.59. The price held above this level through the session, suggesting growing buyer confidence. Doji patterns were observed at critical support levels, indicating indecision before sharp reversals.

Moving Averages

On the 15-minute chart, price remained above the 20-period and 50-period moving averages after 19:30 ET, confirming a short-term bullish bias. The daily timeframe saw price trading above the 200-day moving average, though it failed to close above the 50-day line, indicating mixed medium-term sentiment. The 100-day moving average acted as a floor in the morning before the price rebounded.

MACD & RSI

The MACD histogram showed a steady increase in bullish momentum after 18:00 ET, with the line crossing above the signal line and staying in positive territory. RSI climbed from the mid-50s to the mid-60s, indicating sustained buying pressure without reaching overbought levels. A divergence was not observed, suggesting alignment between price and momentum.

Bollinger Bands

Volatility expanded significantly after 22:30 ET, with Bollinger Bands widening from a narrow contraction. Price traded near the upper band at several points, especially between 22:45 ET and 23:15 ET, confirming strength. The widening bands suggest an ongoing trend extension rather than a reversal.

Volume & Turnover

Volume surged in key price levels, particularly between 22:45 ET and 23:15 ET, with one candle showing $2.26M in turnover. This suggests strong accumulation or distribution activity. Price and turnover remained in sync during these periods, providing confirmation rather than divergence.

Fibonacci Retracements

Recent 15-minute swings showed price reaching the 61.8% retracement level at $20.53 after the initial selloff before extending higher. On the daily timeframe, a 38.2% Fibonacci retracement at $20.75 was tested twice, with the price rebounding both times. This indicates potential support/resistance levels for near-term traders to watch.

Backtest Hypothesis

Given the observed bullish patterns and rising momentum, a potential backtesting strategy could involve entering a long position at the close of a bullish engulfing candle, with a stop-loss placed below the recent swing low and a target at the next Fibonacci resistance level. This would align with the MACD crossover and RSI momentum as confirmatory signals. Using the 20-period moving average as a dynamic stop-loss could improve risk management in fast-moving environments.