Delayed Olympia rollout weighs on Ethereum Classic price as seller pressure persists

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Ethereum Classic drops 7.38% today

Highlights

Ethereum Classic protocol upgrades including the Olympia proposal remain under discussion for 2027, with no significant client adoption as of November 2026.
Block reward reductions are curbing new supply and inflation rate, but have not produced a near-term move in price.
ETC trades below key moving averages across all timeframes, with technical indicators confirming strong selling pressure and a projected range of $5.65 to $6.160872 over the next 2 to 3 days.

Stalled sentiment as protocol upgrades lag and supply cuts miss impact

Planned protocol upgrades such as the Olympia proposal are still under discussion for rollout in 2027 but, as of November 2026, have yet to see client adoption, limiting immediate technical developments and sentiment for Ethereum Classic. Ongoing block reward cuts are set to restrict the inflation rate by reducing new supply, though this effect has not translated into a near-term price response. Meanwhile, on-chain activity and regulatory clarity remain mixed, with uncertainties highlighted by Coin Turk.

Technical barriers strengthen amid oversold momentum and persistent seller control

On the hourly chart, ETC/USD is trading below both the MA-20 at $6.311 and the MA-50 at $6.4616, with the daily price action also positioned beneath the MA-200 at $7.6692. The Ichimoku Kijun at $6.305 now serves as immediate resistance. Momentum indicators are weak: MACD and ADX both confirm selling pressure, and all three oscillators—RSI, Stoch RSI, and CCI—remain in oversold territory, which may hint at temporary selling exhaustion but does not guarantee a reversal. Bull/Bear Power is negative, highlighting persistent seller dominance on intraday timescales, while the Awesome Oscillator corroborates the current downside momentum. Price action for the session included a downward gap at the open, closing near lows and experiencing notable volatility.

Downside bias prevails as consolidation zone narrows

Over the next two to three trading days, ETC is expected to consolidate within a range of $5.65 to $6.16, reflecting typical volatility relative to current levels. The likelihood of an upward move remains very low, with further downside considered highly probable. A bullish break would require a sustained move above $6.305, while a drop below $5.65 could extend further weakness. The base scenario favors continued sideways trading within this corridor under prevailing conditions.

Anton Kharitonov, expert at Traders Union, sees limited catalysts for Ethereum Classic in the near term. Technical momentum remains weak and price holds below key resistance levels. Lack of progress on protocol upgrades and mixed regulatory signals further restrain sentiment. "Unless ETC reclaims $6.305, I remain defensive and expect continued sideways or lower movement."

Previously it was reported that Ethereum’s core developers are considering accelerating post-quantum and post-AI security upgrades, reshaping protocol priorities for upcoming network improvements. Against this backdrop, Ethereum Classic remains constrained by unresolved upgrade adoption and technical momentum, making the $6.305 resistance a critical level to monitor for any potential shift in price direction.

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

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.