Ethereum Classic (ETC) is currently priced at $8.82, reflecting a minor 24-hour decline of 0.96%. The daily trading range has been relatively narrow, with a high of $8.94 and a low of $8.51, indicating low volatility and a lack of strong buying or selling pressure in the market.

The volume of 86,617,857 corresponds to a volume-to-market cap ratio of 6.32%, suggesting moderate trading activity relative to its market capitalization. Technical indicators reveal that short-term moving averages (8 SMA, 13 SMA, and 21 SMA) are trending positively, while the longer-term 144 SMA shows a bearish trend, indicating mixed signals for traders.

Currently, the 1-hour RSI stands at 50, suggesting a neutral market condition without any strong momentum in either direction. However, the 7-day RSI at 47 indicates a slightly bearish sentiment, corroborated by significant price declines over the past 7, 14, and 30 days of approximately 8.08%, 23.98%, and 29.73% respectively.

Given the substantial drop from the all-time high of $167.09 in May 2021, ETC has been unable to regain bullish momentum, and the prevailing technical indicators do not show a strong reversal pattern. The combination of declining momentum, a neutral RSI, and resistance at key moving averages suggests that investors may face further downside risk in the near term.

Based on this analysis, the recommendation is to Hold. The current price action does not warrant a Buy due to the ongoing downtrend and lack of strong bullish signals, yet selling at this level may also be premature given the potential for consolidation around the current price range. Investors should monitor for clearer bullish signals before making any significant moves.