Ethereum Classic (ETC) is currently trading at $8.82, showing a slight 24-hour change of 1.12%. The daily trading range has been narrow, with a high of $8.85 and a low of $8.64, reflecting a tight consolidation phase.

The trading volume stands at approximately 46.47 million, with a volume-to-market cap ratio of 3.39%, indicating moderate trading activity relative to its market capitalization. The hourly moving averages are mixed, with the shorter-term averages (8, 13, 21 SMA) indicating bullish momentum while the 55 SMA has turned slightly bearish.

The 1-hour Relative Strength Index (RSI) is at 53, suggesting a neutral market sentiment, while the 7-day RSI at 54 indicates slight bullish momentum over the past week. However, the 14-day price change shows a decline of over 10%, and the 30-day price change reveals a significant drop of nearly 32%, suggesting overall bearish pressure in the longer term.

Despite the recent short-term gains, the longer-term trend remains negative as ETC continues to trade significantly below its all-time high of $167.09. Technical indicators suggest that while there may be potential for short-term fluctuations, the broader market sentiment is still cautious, given the recent downtrends.

Based on the current analysis, a Hold rating is recommended. The recent price stabilization indicates a potential for recovery; however, persistent longer-term bearish trends necessitate caution before taking a bullish position.