Market Overview for Ethereum Classic/Tether (ETCUSDT)

• Ethereum Classic/Tether (ETCUSDT) formed a key bullish reversal structure in late evening ET.
• Price retreated to 15.83 but recovered to 16.16 by 12:00 ET—suggesting short-term buyer resilience.
• MACD and RSI showed divergences mid-day, hinting at potential momentum shifts.
• Volatility expanded after 19:00 ET with a low of 15.79 and a high of 16.43, indicating increased market activity.
• Final 15-minute candle closed at 16.16 with a 16.18 high and 16.16 open—showing moderate bullish bias.

Ethereum Classic/Tether (ETCUSDT) opened at 16.35 (12:00 ET − 1), reached a high of 16.43, hit a low of 15.79, and closed at 16.16 (12:00 ET). Total volume for the 24-hour period was 226,122.78, with a notional turnover of approximately $3,525,650. The session featured a strong intraday pullback to 15.83, followed by a partial rebound and consolidation above key support levels.

Over the past 24 hours, ETCUSDT formed a series of key candlestick patterns. A morning star and bullish engulfing pattern emerged between 19:30 and 20:15 ET, coinciding with a sharp drop to 15.79 and a subsequent rebound. These formations suggest a potential reversal from bearish to bullish momentum. Later, the price found support near 15.83, followed by a strong bounce that led to a 16.16 close. The pattern appears to indicate buyer interest entering at key levels after a bearish breakdown attempt.

Moving averages on the 15-minute chart suggest short-term divergence. The 20-period MA crossed below the 50-period MA during the sell-off but recovered to close above it. On the daily chart, the 50-period MA remains above the 200-period MA, suggesting the pair is still in a medium-term bull phase. However, the 100-period MA has begun to flatten, which could signal a near-term pause in the uptrend.

MACD turned positive after the morning star formation, showing increasing bullish momentum, while RSI crossed above 50 to indicate rising buying pressure. However, RSI showed a divergence at the end of the session, peaking above 60 without matching the price high, suggesting potential exhaustion. Bollinger Bands showed significant expansion during the 19:00–20:30 ET period, with price reaching the upper band during the morning rebound. This suggests a temporary spike in volatility and potential consolidation ahead.

Volume and turnover spiked during the 19:30–20:45 ET sell-off, confirming the sharp drop to 15.79. However, volume during the rebound was relatively lower, raising questions about the strength of the bullish move. This divergence could indicate that buyers may be stepping in cautiously. In the final hours, volume picked up again as price moved into the 16.16–16.22 range, suggesting renewed interest from longs.

Fibonacci retracement levels were notable during the 19:30–21:00 ET rebound. The price found support at 61.8% (15.83) before bouncing to 16.16, which aligns with the 38.2% retracement level. These levels may act as short-term reference points for both buyers and sellers. On the daily chart, the 2025-10-28 low (15.79) could serve as a critical support zone for the next 24 hours.

The backtest hypothesis explored a strategy based on simultaneous Bullish Engulfing and Morning Star patterns. These formations were identified as strong reversal signals, particularly in the context of a broader bearish trend. The strategy entered long positions on days where both candlestick patterns appeared and held for a maximum of three days. The results from the backtest provide insights into the effectiveness of these patterns in a real-world trading environment.