Ethereum Classic (ETC) is currently priced at $8.66, reflecting a 4.67% increase over the past 24 hours. The daily trading range has been relatively tight, with a high of $8.68 and a low of $8.21, indicating some consolidation in this price zone.

Volume over the last 24 hours is substantial at 48,520,621, which translates to a volume/market cap ratio of 3.60%. This level of trading activity suggests a reasonable amount of interest in the asset, especially given the current price performance.

Short-term moving averages show a bullish trend, with the 8 SMA at $8.42 reflecting a gain of 2.82%, while the 13 SMA and 21 SMA are also indicating positive movements. However, the longer-term 144 SMA is only marginally positive at 0.30%, signaling that the price may be facing resistance at higher levels.

The 1-hour RSI is notably high at 80, suggesting that ETC is overbought in the short term, which could lead to a pullback. In contrast, the 7-day RSI at 47 indicates that the asset is nearing neutral territory, while the 14-day RSI reflects a bearish trend.

From a longer-term perspective, the 30-day price change of -27.04% highlights significant downward pressure, suggesting that ETC is still in a corrective phase. This is compounded by the fact that the asset remains significantly below its all-time high of $167.09, indicating that there is a long way to go for a bullish reversal.

Given the current data, the short-term bullish sentiment may not be sustainable without broader market support. Therefore, I recommend a Hold rating for Ethereum Classic at this time, as the potential for a pullback in the immediate term outweighs the short-term gains observed.