Ethereum Classic edges higher as price remains capped below long-term moving averages: weekly outlook
Ethereum Classic (ETC) is currently trading at $7.41, showing a weekly gain of $0.26 or 3.50%. Despite this uptick, ETC remains below its weekly MA-20 ($8.33), MA-50 ($13.48), and MA-200 ($19.66), evidencing persistent medium- and long-term bearish pressure.
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Highlights
- Ethereum Classic trades below key moving averages, reinforcing sustained medium- and long-term bearish momentum.
- Momentum indicators stay decisively bearish despite a modest 3.5% weekly rebound, with sellers maintaining dominant control.
- ETC is expected to remain rangebound between $6.83 and $8.00 over the next week, with downside risk prevailing.
Bearish momentum persists as technicals signal ongoing seller strength
Weekly technical indicators reinforce the cautious outlook. The MACD on the W1 chart remains deep in sell territory, while the ADX signals ongoing seller dominance. The RSI and Commodity Channel Index both suggest ETC is oversold on the weekly timeframe, but the Stochastic RSI has turned neutral to slightly bullish. Bull/Bear Power on the week stands firmly with the bears, keeping the price action subdued within the central part of its recent range.
Sideways outlook expected as breakout risk stays low for next week
For the upcoming 7 days, ETC is forecast to trade within the $6.83 to $8.00 range as defined by current volatility and technical barriers. The probability of a breakout above $8.00 remains low given prevailing bearish momentum, while support near $6.83 could be tested again if sell pressure builds. The baseline scenario anticipates ETC moving sideways, with little sign of a sustained rebound unless momentum decisively shifts to the buy side.
Earlier, analysts noted that Ethereum Classic exhibited short-term momentum but faced ongoing consolidation amid heightened volatility. The current outlook underscores persistent bearish pressure across weekly timeframes, highlighting that any near-term recovery will likely require a decisive shift in momentum above established technical barriers.
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