ETC/USDT Market Overview: 24-Hour Summary (2025-09-20)

• ETHEC/Tether (ETCUSDT) declined 0.7% over 24 hours, closing near key support at $20.21–20.23.
• Volatility expanded in the afternoon, with a 0.5% range from $20.14 to $20.26.
• RSI remained neutral, while volume surged after 00:00 ET, indicating renewed interest.
• A potential bearish engulfing pattern emerged early in the session, followed by a recovery.
• Price retested key 20.23–20.25 levels in the final hours, with mixed momentum signals.

Ethereum Classic/Tether (ETCUSDT) opened at $20.28 on September 19 at 12:00 ET, reached a high of $20.46, and closed at $20.36 as of 12:00 ET on September 20. Total volume over the 24-hour window was 249,797.06 ETHC, with a notional turnover of approximately $5,134,067. Price action showed a bearish bias with a late recovery into positive territory.

Structure & Formations

Price action displayed a bearish bias early in the session, with a notable breakdown below the $20.23–20.25 consolidation range before retesting and stabilizing. A key support level was established around $20.14–20.16, which held during a sharp mid-session dip. Later in the day, a potential bullish reversal pattern formed near $20.23–20.25, with a strong 15-minute candle closing near its high. The formation suggests a possible near-term bounce, though bearish pressure remains evident.

Moving Averages

On the 15-minute chart, price remained below the 50-period MA, indicating bearish momentum in the short term. The 20-period MA crossed below the 50-period MA in the early hours, reinforcing the bearish bias. On the daily chart, the 50-period MA appears to be forming a shallow upward bias, but price remains below the 100- and 200-period MAs, indicating a longer-term bearish trend.

MACD & RSI

The 15-minute MACD showed bearish momentum early in the session, with a bearish crossover around $20.25. However, a bullish crossover occurred after 03:00 ET as buying pressure increased. RSI remained in neutral territory throughout, fluctuating between 40 and 55. This suggests a balance between bullish and bearish forces, with no strong overbought or oversold conditions emerging.

Bollinger Bands

Volatility expanded in the afternoon session, with the Bollinger Band width increasing due to the sharp drop from $20.26 to $20.14. Price action remained within the band for most of the session, but retested the lower band briefly before closing near the 20-period SMA. This suggests a possible short-term rebound but continued caution on the downside.

Volume & Turnover

Volume surged after 00:00 ET, with a 15-minute candle at 00:00–00:15 ET recording a turnover of $146,200, the highest of the session. This coincided with the price’s recovery from $20.2 to $20.23. However, volume declined in the final 4 hours, suggesting weakening conviction in the recovery. A divergence between price and volume is present, indicating potential caution ahead.

Fibonacci Retracements

On the 15-minute chart, price found support at the 61.8% Fibonacci level ($20.23) before bouncing. On the daily chart, the recent dip from $20.46 to $20.26 retested the 38.2% level ($20.37) twice, indicating a key psychological level. A breakdown below 20.23 could target the next Fibonacci level at $20.14–20.16.

Backtest Hypothesis

The backtest strategy described involves entering long positions after a 61.8% Fibonacci retracement level is confirmed with bullish divergence on the RSI and a bullish MACD crossover, all while volume surges. The above analysis supports such a strategy, as ETC/USDT retested key Fibonacci levels around $20.23–20.25 with bullish RSI divergence and a late MACD crossover. However, caution is advised as volume has since declined, and bearish pressures remain. A successful backtest would require confirmation of these levels with sustained volume and price action above the 20.25 level.