Ethereum Classic (ETC) is currently priced at $11.95, reflecting a 24-hour decline of 5.80%. The daily trading range has been relatively narrow, fluctuating between $11.60 and $12.81, indicating a period of consolidation following recent volatility.

The trading volume stands at approximately $107.36 million, contributing to a volume-to-market cap ratio of 5.79%. This suggests a moderately active market; however, the downward price trend over the last week (-3.49%) and the last 14 days (-8.54%) indicates bearish sentiment among traders.

Technical indicators show that the hourly moving averages are diverging, with the 8-period SMA showing slight upward momentum (+0.43%) while longer-term SMAs are trending downward. Specifically, the 21 SMA is down by 2.57%, and the 144 SMA has declined by 6.64%, indicating that the longer-term trend remains bearish.

The RSI levels present a concerning picture, with the 1-hour RSI at 22, indicating potential oversold conditions, while the 7-day RSI at 44 suggests the asset is not yet in oversold territory. This could lead to further downward pressure if the momentum continues, particularly if key support at $11.60 is broken.

Fundamentally, Ethereum Classic continues to grapple with a lack of significant developments or upgrades to spur investor interest, contributing to its stagnation. Given the recent price action and technical indicators, it is crucial for traders to monitor support levels closely.

In conclusion, the analysis suggests a Sell rating for Ethereum Classic at this time. The bearish momentum, declining moving averages, and weak RSI levels indicate that further price declines are likely, and it may be prudent for investors to exit positions or wait for clearer bullish signals before re-entering the market.