Ethereum Classic extends losses as trading stays under key moving averages

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Ethereum classic drops 7.18% to $8.66

Highlights

Ethereum Classic trades below major moving averages, reflecting persistent bearish pressure and weak trend structure.
Momentum indicators diverge, with mild oversold conditions and mixed signals failing to counter ongoing downside momentum.
Expected weekly range is $8.50–$8.80, with a low probability of upward breaks and heightened risk of declines below $8.50.

Mixed oscillator and MACD signals as resistance levels cap rebounds

The $8.66 price level places ETC just under the SMA-50 at $8.76, with stronger resistance above at the SMA-20 ($9.20) and SMA-200 ($10.61). The Ichimoku Kijun line at $9.11 presents immediate overhead resistance. Technical indicators are mixed: the D1 MACD issues a strong buy signal, but the ADX remains neutral. Oscillators including RSI (46.26), CCI, and Stoch RSI suggest mild oversold conditions, while the D1 Bull/Bear Power reading is positive and points to a slight intraday buyer advantage. ETC is currently trading near today's low after a session marked by increased volatility and persistent selling.

Limited breakout potential as price confined to narrow support band

Over the next five sessions, ETC is expected to fluctuate within a volatility band of $8.50 to $8.80, reflecting recent market conditions. The probability of an upward breakout is low, under 20%. Baseline scenario calls for continued sideways movement between $8.50 support and $8.80 resistance. If price breaks below $8.50, accelerated declines are likely given the absence of near-term technical support. Should ETC close above $8.80, a reversal toward $9.10 cannot be ruled out.

Viktoras Karapetjanc, expert at Traders Union, sees Ethereum Classic at $8.66 facing persistent downward pressure amid increased volatility and lack of recent news flow. He believes technical signals are mixed, but fundamental and sentiment factors currently lack strong drivers for a swift recovery. Sideways action is likely between $8.50 and $8.80, with limited probability for a breakout. The analyst maintains a constructive outlook as oversold readings may inspire cautious optimism in the coming sessions. "If ETC can stabilize above $8.80, I see potential for a modest rebound toward the $9.10 resistance zone."

Earlier, analysts noted that Ethereum Classic was exhibiting sustained bearish momentum and remained vulnerable to further downside. The current session reinforces this outlook with continued pressure below major moving averages, so traders should watch for a decisive move below $8.50 as a catalyst for renewed weakness.

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.