Ethereum Classic (ETC) is currently priced at $11.64, reflecting a 24-hour decline of 2.38%. The daily trading range has been narrow, with a high of $12.10 and a low of $11.65, indicating weak volatility and market interest at this price level.

Trading volume over the past 24 hours stands at approximately 47.82 million, translating to a volume-to-market cap ratio of 2.65%. This volume suggests a moderate level of trading activity but indicates diminished interest compared to historical standards, particularly given the recent downward price action.

The hourly moving averages reveal a bearish trend, with the 8 SMA at $11.85 down by 1.77%, and the longer moving averages showing even steeper declines, such as the 144 SMA at $12.60, down by 7.60%. These indicators suggest a lack of upward momentum and the potential for further downward pressure in the near term.

Relative Strength Index (RSI) metrics indicate oversold conditions, particularly with the 1-hour RSI at 25 and the 7-day RSI at 39. While these readings suggest a potential for a rebound, they also highlight the current weakness in buying sentiment, with the 7-day price change showing a substantial decline of 9.35%.

Fundamentally, the overall trend for ETC remains bearish, with significant losses recorded over both the 14-day and 30-day periods, down 12.80% and 3.36%, respectively. Given the significant gap from the all-time high of $167.09, current price action indicates a lack of investor confidence and challenges in gaining traction.

In conclusion, the technical indicators and market sentiment reflect a bearish outlook for Ethereum Classic. The combination of a declining price trend, oversold conditions, and weak volume suggests a Hold rating for ETC at this time, as the potential for a short-term rebound exists but is overshadowed by the prevailing downward trajectory.