ETC edges lower amid persistent MACD bearish signal: weekly forecast

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Ethereum Classic slips 1.29% this week

Highlights

Ethereum Classic continues in a clear downtrend, trading below key moving averages on medium- and long-term timeframes.
Technical momentum remains strongly negative, with oversold conditions and multiple indicators signaling persistent selling pressure.
For the next week, price is expected to range between $6.50 and $7.55, with a downside scenario favored.

Bearish momentum persists with oversold indicators this week

On the weekly timeframe, technical momentum remains negative. ETC is trading beneath all major W1 moving averages, with the MA-20 now serving as the nearest dynamic resistance. Weekly indicators reinforce bearish sentiment as the RSI stands at 32.58, Stochastic RSI at 0, and CCI at −111.49, pointing to clear oversold conditions, while the ADX reading of 30.88 and strong bearish MACD signal confirm the strength and persistence of the ongoing downtrend. Bull/Bear Power also favors continued seller dominance.

Limited rebound expected as negative momentum defines upcoming week

For the next 7 days, ETC is expected to trade within a range of $6.50 to $7.55, with sideways movement being the base scenario due to prevailing bearish signals. A decisive move above $7.10 could prompt a short-term test of resistance, but the likelihood of a sustained rally is currently low—fewer than 20% odds—given there are no W1 indicators flashing buy signals. On the downside, should support at $6.50 fail, further declines would become probable as negative momentum persists.

Anton Kharitonov, expert at Traders Union, notes that Ethereum Classic continued to face weekly selling pressure, with price closing at $6.91 — well below its major moving averages. He observes that technical momentum remained negative all week, as all indicators leaned bearish and oversold signals persisted. Kharitonov highlights that the prevailing downtrend is confirmed by a strong ADX and a bearish MACD, leaving little sign of a recovery. In his view, with no buy signals present and newsflow absent, the chance of a sustained move upward is significantly diminished, and the base case is for sideways or lower action within the $6.50–$7.55 range. He sees further declines as likely if $6.50 support gives way. "As long as Ethereum Classic remains below the $7.10 level, I have little confidence in any rebound this week."

Earlier, analysts noted that Ethereum Classic was locked in a persistent bearish trend with limited prospects for near-term reversal. The current technical setup not only reinforces this outlook but also highlights $6.50 as a critical support level to monitor for potential renewed downside pressure in the coming week.

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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