Ethereum Classic (ETC) is currently priced at $8.60, reflecting a 24-hour decline of 2.89%. The daily price range has been tight, with a high of $9.07 and a low of $8.58, indicating limited volatility within the last 24 hours.

Trading volume stands at approximately 48.94 million, contributing to a volume-to-market cap ratio of 3.66%. The bearish sentiment is reinforced by the hourly moving averages, with the 8 SMA at $8.73 showing a decline of 1.44%, and the 55 SMA at $8.97 indicating a larger drop of 4.11%.

The Relative Strength Index (RSI) shows significant bearish momentum, with an hourly RSI at 22, suggesting oversold conditions in the short term. Meanwhile, the 7-day RSI of 46 indicates a neutral position, yet the price has decreased by approximately 0.73% over the past week, highlighting a lack of upward momentum.

From a longer-term perspective, the 30-day price change of -25.46% points to a significant bearish trend, indicating that ETC has struggled to maintain its price in recent weeks. The 14-day price change shows a slight recovery of 0.92%, but this appears insufficient to reverse the overall downward trajectory.

Given the current technical indicators and the negative price action over the past month, the outlook for Ethereum Classic remains weak. The resistance levels indicated by the moving averages suggest that a rally is unlikely in the short term without a significant change in market sentiment or external factors.

Based on this analysis, a Sell rating is recommended for Ethereum Classic. The combination of bearish technical signals, declining RSI, and a significant drop in price over the past month indicates further downside risk in the near term.