Ethereum Classic holds steady in recent range with resistance at $8.70: weekly outlook

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Ethereum Classic drops 1.52% this week

Highlights

Ethereum Classic continues to face persistent selling pressure, trading below major moving averages, confirming a bearish trend.
Momentum indicators remain decisively negative, with no key signals pointing to an imminent recovery, and sellers remain dominant.
ETC is expected to remain range-bound between $8.10 and $8.70 over the next week, with a breakout unlikely and downside risk prevailing.

Bearish momentum dominates as indicators weaken over the week

Weekly technical indicators for ETC confirm a bearish setup, as price action remains below all major moving averages (MA-20, MA-50, MA-200). Key weekly support is at $8.10, with resistance at $8.70, while the RSI W1 is weak at 33.8, suggesting ongoing weakness. Oscillator signals are mixed, with the Stochastic RSI appearing overbought and CCI still in sell territory. MACD and ADX both point to persistent negative momentum, and Bull/Bear Power reflects seller dominance on the weekly timeframe. Weekly volatility is measured at 6.15%.

Sideways bias expected as limited breakout chances persist next week

Looking ahead to the next 7 days, ETC is expected to trade mostly sideways between $8.10 and $8.70, reflecting ongoing weakness. There is a very low probability (less than 20%) of an upside move, as none of the four main indicators support a buy or strong buy. A close above $8.70 could signal a short-term rebound, while a fall below $8.10 would likely trigger further declines and reinforce current bearish momentum.

Parshwa Turakhiya, analyst, sees Ethereum Classic trapped in a bearish structure after another weak week. Sellers continue to dominate as ETC remains below all primary weekly moving averages, with negative momentum confirmed by the MACD and ADX. Price action between $8.10 and $8.70 signals indecision, evidenced by mixed signals in the oscillators and a lack of positive sentiment flow. He notes that significant upside looks unlikely this week unless $8.70 is convincingly reclaimed. "As long as ETC trades below $8.70, I’ll stay neutral and watch for any clean move outside this tight range."

Earlier, analysts noted that Ethereum Classic was locked in a period of range-bound consolidation amid persistent bearish momentum. The current outlook reinforces this caution, with traders advised to monitor the $8.10 support level closely as a breach could intensify downside pressure 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

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