Ethereum Classic (ETC) is currently priced at $11.83, reflecting a 24-hour change of -2.22%. The daily trading range has been relatively narrow, with a high of $12.38 and a low of $11.71, indicating low volatility in the short term.

The trading volume stands at approximately 68.98 million, contributing to a volume-to-market cap ratio of 3.77%. This volume suggests moderate investor interest, though the price decline indicates selling pressure may be dominant.

Technical indicators show that short-term moving averages are all trending downward, with the 8 SMA at $12.12 showing a decline of -2.40%. The 1-hour and 7-day Relative Strength Index (RSI) are both at 43, suggesting that ETC is approaching oversold territory but lacks strong bullish momentum.

Over the past week, ETC has experienced a price drop of approximately 9.33%, with a more significant decline of 14.19% over the past 14 days. The 30-day change of -19.75% indicates a broader bearish trend, highlighting ongoing weakness in market sentiment.

Given that the all-time high for ETC was $167.09 in May 2021, the current price represents a substantial drop, indicating potential long-term value but also significant risk. The prevailing technical indicators, along with negative price momentum, suggest that the market is not yet ready to support a recovery.

In conclusion, the overall market sentiment for Ethereum Classic is bearish, with significant price declines across multiple time frames. Therefore, the recommendation is to Hold, as waiting for clearer signs of recovery or bullish momentum could provide a better entry point for future investment.