Ethereum Classic (ETC) is currently trading at $8.10, experiencing a significant decline of 12.06% over the past 24 hours. The daily range has been tight, with a high of $9.28 and a low of $7.42, indicating increased volatility and bearish sentiment in the market.

Volume stands at approximately 201.74 million, contributing to a volume-to-market cap ratio of 16.01%. This suggests moderate interest in trading, yet the downward price trend indicates sellers are dominating the market, particularly as the 7-day price change is down 23.52% and the 14-day change is down 30.73%.

Technical indicators reveal that short-term moving averages are all below the current price, with the 8 SMA at $8.33 and the 13 SMA at $8.57, indicating potential resistance levels. The longer-term moving averages, such as the 55 SMA at $9.26 and the 144 SMA at $9.60, suggest that ETC is currently far from bullish territory and is struggling to regain upward momentum.

The RSI metrics further confirm bearish conditions, with a 1-hour RSI of 18 indicating extreme oversold conditions. Meanwhile, the 7-day RSI at 38 suggests that while there may be some room for a corrective rally, the overall trend remains weak.

Considering these factors, the outlook for Ethereum Classic is unfavorable in the short to medium term, with persistent downward pressure and a lack of bullish momentum. Therefore, the recommendation for ETC is to Sell, as the current technical and fundamental indicators suggest further declines are likely before any potential recovery.