Ethereum Classic (ETC) is currently priced at $12.37, reflecting a 24-hour decline of 1.23%. The daily range has been narrow, with a high of $12.67 and a low of $12.29, indicating limited volatility and trading activity.

Volume over the past 24 hours stands at approximately 39.54 million, resulting in a volume-to-market cap ratio of 2.06%. This low volume suggests a lack of strong buying interest and may contribute to the recent price decline.

The hourly moving averages indicate bearish sentiment, with all major SMAs (8, 13, 21, 55, and 144) showing negative changes ranging from -0.73% to -2.79%. The 1-hour RSI at 46 and the 7-day RSI at 45 both indicate a lack of momentum, further corroborating the current bearish trend.

In terms of longer-term performance, the 7-day price change is down 4.77%, while the 30-day price change shows a decline of 5.92%. This consistent downward movement underscores a potential resistance at higher levels, particularly near the 144 SMA at $12.73.

Given the current technical indicators and the ongoing negative price trends, the sentiment around Ethereum Classic remains weak. With no immediate catalysts for a turnaround and bearish signals across moving averages, the recommendation is to sell.

In conclusion, the current market conditions and technical analysis suggest that holding ETC could lead to further losses in the short term. Therefore, a Sell rating is advised, with a focus on capital preservation until a more favorable trend emerges.