ETC maintains negative setup amid strong sell signals on MACD and ADX: weekly forecast

Traders Union
All News
Crypto
Ethereum Classic slips 1.72% this week

Highlights

Ethereum Classic remains under sustained bearish pressure, trading below major moving averages and unable to regain upward momentum.
Momentum and trend indicators show a dominant seller presence, with downside momentum persisting on the weekly timeframe.
ETC is expected to range between $8.15 and $8.98 over the next week, with a breakout below $8.15 likely signaling continued declines.

Bearish technical signals persist as ETC fails key resistance levels

On the weekly timeframe, ETC maintains a negative technical setup, trading below all key moving averages. The nearest dynamic resistance is the MA-20 at $9.780500, while broader resistance levels are set by the MA-50 and MA-200 at $14.881600 and $20.450750 respectively. Weekly support is found at $8.15, with resistance at $8.98. The MACD (Strong Sell), ADX (Sell), and Bull/Bear Power all confirm robust downside momentum, while the RSI (Sell), Commodity Channel Index (Sell), and Stochastic RSI (Overbought) highlight mixed and occasionally counter-trending signals, with recent volatility at 6.97%.

Sideways outlook favors bearish bias as downside risk dominates

For the next 7 days, the price is expected to move within a range of $8.15 to $8.98, with a sideways bias favored. A break above $8.98 could trigger a modest bullish reversal, but the probability of this scenario remains under 20% given persistent sell signals across technical indicators. Key downside risk is a move below $8.15, which would signal the resumption of the dominant bearish trend observed on the weekly chart.

Parshwa Turakhiya, analyst, sees Ethereum Classic trading with persistent bearish pressure this week, as the asset remains below critical moving averages and sellers dominate the weekly momentum structure. He believes that with most technical signals pointing to further downside, the scenario favors a continued sideways to lower bias between $8.15 and $8.98. Any move above $8.98 might set up a short-term bounce, but the probability of a sustained bullish reversal is low. Downside risks outweigh potential gains unless sentiment improves or key resistance breaks. "I will be watching for range trades this week, but as long as Ethereum Classic stays below $8.98, I see no compelling reason to expect a significant upside move."

Earlier, analysts noted that Ethereum Classic was locked in a period of range-bound consolidation amid persistent bearish momentum. The current analysis reaffirms this cautious outlook, highlighting that traders should monitor the $8.15 support level as a breach below it could accelerate downside risk in the coming week.

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

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.