Technical bearishness dominates — Ethereum Classic drops 7.06%

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Ethereum Classic slides 7.06% to $8.69

Highlights

ETC trades at $8.69, above the MA-20 ($8.61) but below the MA-50 ($10.35) and MA-200 ($15.23), signaling short-term stabilization amid persistent longer-term downward pressure.
Momentum indicators are firmly bearish, with the MACD on D1 suggesting a strong sell, the ADX confirming a bearish trend, and volatility heightened after a 7.06% daily decline.
ETC faces immediate resistance at the Ichimoku Kijun level ($8.90), with a likely trading range of $7.00–$9.00 and less than 20% probability of a sustained price increase.

Bearish momentum persists as resistance contains weak bounce

Technical conditions remain bearish, with the Ichimoku Kijun level at $8.90 acting as immediate resistance above the current price. Momentum signals are weak: MACD on D1 suggests a strong sell, ADX confirms a firm bearish trend, and Stochastic RSI and CCI present overbought signals even as the daily chart's RSI appears neutral. Bull/Bear Power (BBP) is overbought but recent sell-side dominance prevails, while the Awesome Oscillator is neutral, underscoring price weakness amid high volatility and dominant sellers since the session open.

Downside risk dominates as narrow range limits breakout

For the coming week, ETC is expected to range between $7.00 and $9.00, forming a volatility band relative to current levels. Probability of a sustained price increase is low (below 20%), making further decline or sideways movement more likely. In the baseline scenario, price should remain bound within $7.00 to $9.00 as buyers and sellers test support and resistance. A break above the $8.90 – $9.00 resistance could prompt a push toward the top of the band, while a renewed bearish wave may see ETC slip below $7.00 and potentially test new lows, with broader indicators firmly negative.

Viktoras Karapetjanc, expert at Traders Union, sees Ethereum Classic stabilizing short term but still under clear broader pressure. He believes weak momentum and bearish signals will likely keep ETC stuck between $7.00 and $9.00, with little news or sentiment shifts to change the trend. The expert maintains a constructive bias but notes a breakout above $8.90 is needed before buyers regain control. Karapetjanc is monitoring key resistance for a shift in trend. "A breakout above $8.90 could spark a stronger rebound, but for now, sellers remain in charge."

Previously it was reported that Ethereum Classic is trading above its short-term moving average but remains below key medium- and long-term averages, signaling sustained downward pressure despite a recent sharp intraday rally. Momentum indicators reflect a predominantly bearish outlook, with strong selling signals from MACD and ADX, mixed readings from oscillators, and immediate resistance identified at the 50-day moving average.

Source of Data: ETC Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.