Ethereum Classic (ETC) is currently trading at $12.57, reflecting a 24-hour decline of 2.00%. The price has fluctuated between a high of $12.96 and a low of $12.39, indicating a daily range of 0.57% and suggesting limited volatility in the short term.

Volume over the past 24 hours stands at approximately 43.2 million ETC, with a volume-to-market cap ratio of 2.22%. This relatively low volume indicates weaker buying interest, which could contribute to price pressure if selling persists.

The short-term moving averages present a mixed picture, with the 8 SMA at $12.54 showing a slight upward momentum of 0.27%. Conversely, the longer moving averages (21 SMA at $12.69 and 55 SMA at $12.92) indicate a bearish trend, reflecting a decline of 0.95% and 2.68%, respectively.

The 1-hour RSI is at 33, suggesting that ETC is nearing oversold conditions in the very short term. Meanwhile, the 7-day RSI at 50 indicates a neutral position, while the recent price changes show a 5.02% increase over the past week, albeit a decline of 10.50% over the last month.

In terms of historical context, ETC's all-time high remains at $167.09, achieved in May 2021, illustrating significant long-term downside potential from the current price level. Current price action, coupled with lackluster volume and bearish moving averages, suggests ongoing selling pressure.

Given the mixed indicators and bearish momentum observed in both the short-term and longer moving averages, a cautious approach is warranted. Thus, the recommendation for Ethereum Classic (ETC) is to Hold, as current market conditions suggest potential for stabilization without immediate upside momentum.