Ethereum Classic (ETC) is currently trading at $8.57, reflecting a slight decline of 0.82% over the past 24 hours. The price has fluctuated between a high of $8.98 and a low of $8.51 during this period, indicating a narrow daily range of 0.47%.

Trading volume stands at 82,853,838, equating to 6.22% of the market capitalization, which suggests a moderate level of interest among traders. The hourly moving averages show a bearish trend, with all key SMAs (8, 13, 21, 55, and 144) pointing downward, particularly the 144 SMA which is $9.23, showing a significant deviation from the current price.

The 1-hour RSI is at 36, indicating potential oversold conditions in the short term, while the 7-day RSI of 45 suggests that momentum is weakening. Additionally, the price has decreased substantially over the past 7 days by 16.13%, 14 days by 26.60%, and 30 days by 31.07%, reflecting ongoing bearish sentiment.

Considering the technical indicators and price action, there is a lack of bullish momentum and a persistent downtrend. The significant distance from the all-time high of $167.09, reached in May 2021, further underscores the current weakness in the market.

Given the overall bearish trend, declining RSI values, and poor price performance over the last month, a Sell rating is warranted. The continued downward pressure and lack of significant volume spikes to indicate a reversal suggest that further declines may be ahead before a potential recovery can be considered.