Ethereum Classic weekly forecast: Extends recovery but faces overbought risk

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Ethereum Classic slips 2.82% this week

Highlights

Ethereum Classic trades at $8.98, down 2.82% over seven days, but holds a bullish long-term structure.
Short-term trend has weakened with current support at $8.753 and resistance at $9.36.
MACD shows strong buy momentum and Stoch RSI reads oversold, indicating potential for a near-term bounce toward an expected range of $8.514347 to $9.445652.

Bullish bias emerges after decline as MACD outpaces oversold Stoch RSI

On the daily chart, structure shows Ethereum Classic moving through a sustained move lower with a firm trend, but the price sits above all key daily moving averages. Volatility stands at 10.38%, and while MACD signals strong buy momentum, Stoch RSI reads oversold at 7.786715, pointing toward the potential for a near-term bounce. Immediate support aligns at $8.753 and the Ichimoku Kijun at $8.75, while resistance is set at $9.36. This combination suggests an underlying bullish bias but with some short-term exhaustion after recent declines.

Upside bias persists next week unless support levels give way

In the week ahead, the expected range is $8.514347 to $9.445652. There is a very high probability of an increase and a very low probability of a decrease. Base case sees Ethereum Classic holding within the defined range, anchored by support at $8.753. A sustained move above $9.36 would open up room for further gains, while a break below $8.753 would signal renewed downside risk.

Anton Kharitonov, expert at Traders Union, notes that Ethereum Classic spent the past week under pressure, slipping nearly 3% and hovering near $9. He sees the corporate backdrop as muted, leaving market direction in the hands of technical forces and subdued participation. The daily chart shows a firm trend lower, but ETC remains above all its key daily moving averages. The MACD signals strong buy momentum, and with the Stoch RSI oversold at 7.786715, Kharitonov cautions the potential for a short-term bounce above the key support at $8.753. Resistance is well-defined at $9.36, with the price likely to oscillate within $8.514347 to $9.445652 in the coming week. "Unless we see a sustained move above $9.36, I remain cautious and expect Ethereum Classic to stay rangebound this week."

Earlier, analysts noted that Ethereum Classic had maintained bullish momentum despite emerging overbought conditions and heightened volatility. The current setup signals that while support at $8.753 remains pivotal, fading momentum makes the $9.36 resistance a critical level to watch for renewed directional cues 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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