Are you tracking Ethereum Classic (ETCUSDT) for potential trading opportunities? The past 24 hours have revealed critical market movements and patterns that could shape your next move. Let’s dive into the details.
Ethereum Classic (ETCUSDT) 24-Hour Price Action
Ethereum Classic traded between $21.46 and $22.05, closing at $21.55. Key observations:
- Bearish engulfing pattern at $21.90, signaling a potential short-term reversal.
- RSI briefly touched overbought territory, hinting at profit-taking.
- Volatility spiked between 19:30–22:00 ET, with a sharp price drop.
Key Resistance and Support Levels
Critical zones to watch:
| Level | Price | Significance |
|---|---|---|
| Resistance | $21.95–$22.05 | Upper range of the 24-hour high |
| Support | $21.65–$21.46 | Lower range of the 24-hour low |
Trading Strategies for Ethereum Classic
Here’s how traders can navigate the current market:
- Monitor the 61.8% Fibonacci retracement at $21.73 for potential support.
- Watch for MACD crossovers to confirm bearish or bullish momentum.
- Use Bollinger Bands to gauge volatility and potential breakout points.
Conclusion: What’s Next for Ethereum Classic?
Ethereum Classic is consolidating after a volatile session. While short-term bullish momentum persists, bearish indicators like the MACD crossover suggest caution. Traders should stay alert to volume shifts and price action around key levels.
Frequently Asked Questions (FAQs)
1. What caused the volatility in Ethereum Classic (ETCUSDT) on July 30, 2025?
The volatility spike between 19:30–22:00 ET was likely due to a combination of profit-taking and market sentiment shifts, reflected in the bearish engulfing pattern.
2. Is Ethereum Classic in a bullish or bearish trend?
Short-term momentum is bullish (price above 20-period MA), but broader daily moving averages suggest a bearish trend. Traders should watch for confirmations.
3. How can I use RSI to trade Ethereum Classic?
RSI above 70 indicates overbought conditions (potential sell signal), while RSI below 30 suggests oversold conditions (potential buy signal).
4. What’s the significance of the $21.73 Fibonacci level?
The 61.8% retracement level ($21.73) acts as a key support zone. A break below could signal further downside.
