ETC slides as MACD signals strong downward momentum: weekly forecast

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Ethereum Classic falls 14.79% this week

Highlights

Ethereum Classic remains in a strong bearish trend, trading below key moving averages with persistent seller pressure.
Momentum indicators are negative and oversold, suggesting current weakness but with potential for a short-term rebound if pressure eases.
ETC is expected to fluctuate between $6.40 and $7.65 next week, with a downside break risking further losses and a sustained rally unlikely.

Bearish momentum extends as weekly indicators hit oversold levels

Weekly technical signals remain decisively bearish, with ETC holding below all major weekly moving averages and the MA-20 acting as the nearest resistance. The MACD (Strong Sell) and ADX (Sell) readings confirm active downward momentum, while both RSI and Stochastic RSI on the weekly chart hover near oversold levels. The Commodity Channel Index is entrenched in oversold territory, and Bull/Bear Power readings underscore the dominance of sellers. Weekly volatility is elevated at 28.35%, with price action concentrated near the lower end of the recent weekly range.

Downside risk prevails as technical barriers cap next week’s outlook

For the next 7 days, ETC is expected to trade between $6.40 and $7.65, reflecting its recent volatility and the lack of positive momentum in weekly indicators. The probability of a sustained upward move remains low (below 20%), while sideways or further downward action is favored unless a break above $7.65 occurs. A decisive move above resistance at the MA-20 ($8.611) would be needed to shift sentiment, but for now, price action is likely to remain pressured with risk of further losses if the $6.40 support fails.

Jainam Mehta, market strategist, believes Ethereum Classic is locked in a bearish pattern this week, with prices unable to regain any key moving averages. He sees downside momentum confirmed by negative technical signals and persistent selling, though extreme oversold readings introduce potential for a brief pause or small rebound. The trading range of $6.40 to $7.65 is unlikely to break unless a decisive move above $7.65 occurs. "Given the absence of bullish signals, I remain on watch for further weakness, but a surprise mean-reversion bounce from oversold could offer nimble traders a tactical opportunity."

Earlier, analysts noted that Ethereum Classic continued to face persistent bearish momentum, driven by sustained technical weakness and seller dominance. The latest developments reinforce this negative outlook, with traders now monitoring the risk of heightened volatility and potential breakouts should support or resistance levels be decisively breached in the coming sessions.

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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