Market Overview for Ethereum Classic/Tether (ETCUSDT)

Summary
• Price surged from $12.38 to $13.19 before consolidating near $13.01.
• Momentum accelerated mid-day with a bullish breakout above prior highs.
• Volume spiked during key moves, aligning with price strength and trend confirmation.
• RSI approached overbought territory, indicating possible short-term pullback risk.
• Bollinger Bands expanded with increased volatility, signaling active trading pressure.

Ethereum Classic/Tether (ETCUSDT) opened at $12.38 and surged to a 24-hour high of $13.19 before closing at $13.01. Total volume reached 158,562.59 and turnover hit $2,047,466.85.

Structure & Formations

Price displayed a strong bullish bias on the 5-minute chart, with a key breakout above the descending resistance at $12.98, followed by a confirmed rally to $13.19. A bullish engulfing pattern at $12.88 marked the turning point. A small bearish doji appeared near $13.01, hinting at possible near-term consolidation.

Moving Averages

The 20-period and 50-period SMAs on the 5-minute chart were rapidly overtaken as price surged higher, reinforcing the bullish bias. While the daily 50/100/200 SMA alignment was not available, intraday momentum suggests a continuation above key short-term moving averages.

MACD & RSI

MACD crossed above the zero line with expanding histogram bars, confirming bullish momentum. RSI surged toward overbought territory (78–82), suggesting a potential pause or correction could occur in the near term.

Bollinger Bands

Bollinger Bands expanded significantly during the breakout, with price reaching the upper band near $13.19. This indicates rising volatility and active buying pressure. Price may test the upper band again if bullish sentiment persists.

Volume & Turnover

Volume spiked during the breakout and subsequent rally, with several 5-minute intervals exceeding 11,000 volume units. Turnover aligned closely with volume surges, confirming strong conviction in the upward move. No notable divergence appeared between price and turnover, supporting trend continuation.

Fibonacci Retracements

The move from $12.38 to $13.19 created a key 5-minute retracement level at 61.8% ($12.86), which was retested but rejected. The 38.2% retracement level at $12.97 is now a potential support area as price pulls back.

Ethereum Classic/Tether may consolidate near $13.01 ahead of a potential test of $13.19 or a pullback toward $12.97. Investors should watch for volume confirmation on any near-term breakouts or breakdowns to assess trend strength.