Ethereum Classic faces downside risk as bearish momentum limits recovery: weekly forecast
Ethereum Classic (ETC) is currently trading at $7.08, having declined $0.34 or 4.58% over the week. The asset remains well below its weekly MA-20 at $8.251, MA-50 at $13.246, and MA-200 at $19.543, signaling persistent medium- and long-term downside pressure.
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Highlights
- Ethereum Classic remains under persistent bearish pressure, trading below key moving averages and showing no technical buy signals.
- Technical momentum indicators confirm continued downside risk, with sellers in control and clear evidence of oversold conditions.
- ETC is expected to trade between $6.20 and $7.70 over the next week, with higher probability of further downside.
Bearish momentum persists as weekly indicators confirm negative bias
Weekly technical indicators for ETC continue to favor sellers. The MACD is in a strong sell position and the ADX confirms bearish dominance. Oversold conditions in the RSI, Stochastic RSI, and CCI are apparent, although the Stochastic RSI is now neutral, hinting at a possible pause in selling. Both the Bull/Bear Power and the Awesome Oscillator reinforce the negative momentum, with price holding in the middle of the weekly range and volatility at 12.88%. Main resistance is found at MA-20 ($8.251), while short-term support is established around $6.20.
Sideways trading expected as bearish signals outweigh reversal odds
Looking ahead to the next 7 days, ETC will likely trade sideways in the $6.20 – $7.70 band, with downside risk prevailing as long as key W1 indicators remain bearish. The chance of an upward move remains below 20%, as momentum and oscillators do not signal any buy or reversal. Baseline expectation is for price to consolidate within this range, with oversold indicators restraining a sharper decline. A bullish break above $7.70 could lead to short covering, but this scenario appears unlikely; further downside below $6.20 is more probable if sustained selling persists.
Earlier, analysts noted that Ethereum Classic was contending with persistent bearish momentum and a lack of upside catalysts across weekly timeframes. The current analysis confirms these headwinds remain entrenched, with heightened volatility and oversold conditions suggesting that downside risk to support near $6.20 should be closely monitored in the week ahead.
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