ETC advances 4.31% as MACD indicates strong sell pressure: weekly forecast

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Ethereum Classic up 4.31% this week

Highlights

Ethereum Classic remains locked in a firm downtrend, trading below key moving averages despite a temporary 4.31% weekly rebound.
Momentum and oscillators, including MACD and RSI, point to dominant selling pressure with no active buy signals.
ETC is expected to remain range-bound between $8.60 and $9.10 over the next week, with risk skewed to further downside.

Momentum turns negative this week despite fleeting rebound

Momentum on the weekly timeframe is firmly negative, with the MACD signaling a strong sell and the ADX at 29.81 confirming the presence of a steady downtrend. Both RSI and Commodity Channel Index are in sell territory, reinforcing the lack of bullish momentum, while the Stochastic RSI is deeply overbought and suggests limited upside potential in the near term. Bull/Bear Power remains in oversold territory, indicating seller dominance. Weekly volatility stands at 10.37%, and ETC is positioned in the upper part of the weekly range, but most momentum and oscillator signals contradict the minor weekly gain and support caution as sellers retain overall control.

Range-bound outlook favored as upside signals remain absent for next week

For the next 7 days, ETC is expected to trade between $8.60 and $9.10. There is a very low probability (less than 20%) of a sustained upward move, with a much more likely chance that ETC will either remain range-bound or slip lower, as none of the 4 key indicators show a buy signal. The baseline scenario is for continued sideways movement in a narrow band around current levels. A bullish scenario would require a close above $9.10 to trigger potential resistance tests, while a break below $8.60 could expose ETC to further declines, so tight risk management is advised.

Anton Kharitonov, expert at Traders Union, notes that Ethereum Classic stayed under heavy selling pressure this week, with price unable to break above key moving averages. Despite a modest 4.31% gain, technical indicators continue to point to pronounced bearish momentum. He sees MACD, ADX, and oscillator readings reinforcing a defensive stance, as sellers remain in control. Range-bound movement between $8.60 and $9.10 is expected, with buyers facing strong headwinds. The likelihood of a sustained upside move remains low unless $9.10 is reclaimed. "Unless Ethereum Classic closes above $9.10 this week, I remain cautious and see little reason to expect a bullish reversal."

Earlier, analysts noted that Ethereum Classic was locked in a period of consolidation against a backdrop of persistent bearish momentum. The current analysis reinforces this cautious outlook, highlighting that until a decisive move above $9.10 or below $8.60 occurs, traders should prioritize risk management amid ongoing downside pressure.

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

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