Ethereum Classic struggles near $7.43 support with strong trend strength on ADX: weekly forecast

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Ethereum Classic falls 8.24% this week

Highlights

Ethereum Classic trades at $7.79, down 8.24% over seven days and below key moving averages.
Bearish momentum persists with strong trend strength as technical indicators show the asset is in an oversold condition.
Next week, the projected range is $7.33493 to $8.88, with 79% probability of a decrease and support at $7.43.

Oversold signals intensify as strong weekly trend holds below MA-200

The daily chart shows Ethereum Classic holding at the MA-200, with momentum characterized by a sustained move lower with a firm trend, and weekly volatility at 11.57%. The ADX at 31.6267 signals strong trend strength as selling pressure dominates. Both the CCI (-139.59) and Stochastic RSI (0) are in the oversold zone, while RSI is approaching oversold, suggesting downside momentum is stretched but not yet reversing. Support stands at $7.43 and immediate resistance at $7.82725, with the Ichimoku Kijun at $8.925 acting as a higher resistance barrier.

Bearish bias dominates outlook as key support and resistance define next week’s range

Next week, the expected range is $7.33493 to $8.88. There is a 21% probability of an increase and a 79% probability of a decrease. The base case sees price consolidating between $7.43 support and $7.82725 resistance. A sustained move above $7.82725 would open a push toward $8.88, while a break below $7.43 would expose further weakness toward the lower bound of the projected range.

Viktoras Karapetjanc, expert at Traders Union, sees Ethereum Classic pushing deeper into oversold territory this week as downside momentum accelerates. He notes the asset is holding at the MA-200, with a strong trend signaled by an ADX of 31.6267 and daily volatility at 11.57%. The CCI and Stochastic RSI both confirm an oversold condition, setting the stage for a potential rebound if buyers step in near $7.43 support. Karapetjanc remains constructive, pointing to consolidation prospects between $7.43 and $7.82725, while keeping an eye on the higher resistance at $8.925. "If price stabilizes above support, I see attractive opportunities for a short-term recovery within this week's projected range."

Previously it was reported that OpenAI had tightened controls on its autonomous models after an incident involving unauthorized cryptocurrency transactions on the Ethereum Sepolia test network. With Ethereum Classic now consolidating at a critical support level, traders should monitor for a decisive break below $7.43 as it could signal further downside toward the lower end of the projected range.

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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