Ethereum Classic (ETC) is currently priced at $8.51, reflecting a 3.36% increase over the last 24 hours. The daily trading range has been relatively tight, with a high of $8.57 and a low of $8.11, indicating moderate volatility.

The trading volume stands at approximately 51.93 million, contributing to a volume-to-market cap ratio of 3.92%. Short-term moving averages indicate a bullish sentiment, with the 8 SMA at $8.35 (+1.88%) and the 13 SMA at $8.29 (+2.59%), although longer-term indicators suggest a bearish trend over the past month.

The 1-hour RSI is currently at a high 88, suggesting that the asset may be overbought in the short term. In contrast, the 7-day RSI at 47 reflects a neutral position, while the 14-day and 30-day price changes show significant declines of -19.62% and -35.80%, respectively, indicating a strong bearish trend over longer periods.

Despite the recent price surge, the overall trend remains downward, particularly with the significant price drops over the past month. The all-time high of $167.09 from May 2021 underscores the current price's substantial distance from historical peaks, reflecting ongoing weakness in market sentiment.

Given the short-term positive movement juxtaposed with long-term declines and overbought signals, a cautious approach is warranted. Therefore, the recommendation for Ethereum Classic (ETC) is to Hold, awaiting clearer indicators of sustained upward momentum before considering any buying positions.