Ethereum Classic weekly forecast: Decline reaches oversold territory with rebound risk

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Ethereum Classic slips 5.72% this week

Highlights

Ethereum Classic trades at $7.09, falling 5.72% over the past week and remaining below key moving averages.
Daily technical indicators confirm a persistent bearish trend, even as CCI and Stochastic RSI reach oversold conditions.
Price is expected to move between $6.576724 and $7.603275, with support at $6.78 and resistance at $7.6745.

Firm negative momentum persists as technicals point to selling exhaustion

On the daily chart, Ethereum Classic continues to show a sustained move lower with a firm trend, as reflected by strong negative readings from both MACD and ADX. CCI and Stochastic RSI are currently oversold, which could suggest selling exhaustion and the potential for an upside rebound. RSI, while not extreme, is also approaching its lower boundary. The nearest support is seen at $6.78, with resistance at $7.6745—a level coinciding with the descending 20-day moving average. The past week’s volatility was marked at 14.31%.

Further downside favored as breakout hinges on resistance and support

In the week ahead, the expected range is $6.576724 to $7.603275. There is a very high probability (more than 80%) of further downside and a very low probability (less than 20%) of a rebound. The base case sees price action remaining confined between $6.78 support and $7.6745 resistance. A bullish scenario would require a sustained break above $7.6745, potentially targeting the $7.815 Kijun area. If support at $6.78 fails, extended downside toward the lower end of the projected range is likely.

Anton Kharitonov, expert at Traders Union, sees Ethereum Classic under sustained pressure this week, closing near $7.09 after a sharp 6% decline. He notes that daily momentum remains negative, with MACD and ADX both showing firm bearish control. However, several momentum oscillators including CCI and Stochastic RSI are now deeply oversold, signaling a possible pause or rebound if sellers step back. The base case remains range-bound between $6.78 support and $7.6745 resistance, with a further drop toward $6.576724 likely if support breaks. Upside remains limited unless price reclaims $7.6745, targeting only the $7.815 Kijun area. "I see little reason for optimism while ETC trades below $7.6745 — unless bulls retake that level, risk stays firmly to the downside for the week ahead."

Previously it was reported that Ethereum Classic remained locked in a strong downside trend, with persistent selling pressure dominating its price action. The latest analysis supports this outlook with fresh technical signals indicating a sustained bearish scenario, making the $6.78 support level critical for traders to monitor in the near term.

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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