ETC edges lower facing resistance at the MA-20: weekly report

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Ethereum Classic slips 1.10% this week

Highlights

Ethereum Classic trades below all major moving averages, confirming sustained medium- and long-term bearish pressure.
Momentum indicators remain negative with no clear buy signals, while a modest weekly decline signals ongoing consolidation.
Expected range for the next week is $8.81 to $9.11, with downside risk dominating unless $9.11 is convincingly breached.

Bearish technical momentum dominates despite neutral secondary signals this week

On the weekly (W1) timeframe, technical momentum for ETC remains negative. The MACD signals 'Strong Sell' and the ADX registers as 'Sell', both pointing to prevailing bearish sentiment. The RSI stands at 40.62, which is moderately weak but not oversold, while the Stochastic RSI is neutral at an elevated value and the CCI reads neutral as well. Bull/Bear Power reflects some buyer bias, though it contrasts with the overall lack of bullish momentum. ETC is currently trading in the $8.60 to $9.51 weekly range, with volatility at 10.58%, suggesting a consolidative but fragile outlook.

Sideways bias persists as breakout risk remains subdued for next week

Looking forward over the next seven days, ETC is expected to move within a range of $8.81 to $9.11. With none of the four key W1 indicators in Buy or Strong Buy territory, there is less than a 20% chance of an upside breakout. The base case points to continued sideways trading between recent support and resistance levels. A push above $9.11 would signal initial bullish intent, though this scenario is unlikely with current momentum, while a breakdown below $8.81 would reinforce downside risk and open room for further declines.

Parshwa Turakhiya, analyst, sees Ethereum Classic holding in a narrow consolidative range this week as bearish momentum continues to dominate. He notes that price remains stuck below key moving averages, with technicals pointing to limited chances of a breakout. Sentiment is fragile, and the absence of positive drivers keeps upside conviction low. Short-term opportunities may arise if price approaches the $8.81 or $9.11 boundaries, but the bias stays neutral until momentum shifts. "Unless Ethereum Classic reclaims strength above $9.11, I prefer to wait patiently on the sidelines this week."

Earlier, analysts noted that Ethereum Classic faced sustained bearish momentum and was at risk of further downside as sellers dominated. This outlook remains intact, with persistent bearish signals suggesting traders should closely monitor the $8.81 support level for any signs of renewed weakness in the week ahead.

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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