Ethereum Classic (ETC) is currently trading at $8.61, reflecting a slight decline of 1.06% over the past 24 hours. The daily trading range has been tight, with a high of $8.77 and a low of $8.52, indicating subdued volatility and a lack of strong buying or selling pressure.

The trading volume stands at approximately 53 million, representing 3.96% of the market cap, which suggests moderate investor interest. However, the price has shown significant downward momentum over the past week, with a 7-day price change of -10.21% and a more severe decline of -31.34% over the last month, indicating a bearish trend.

Technical indicators reveal mixed signals; the 1-hour RSI is at 45, suggesting that the asset is nearing the oversold territory, but not yet indicating a clear reversal. The short-term moving averages (SMA) are also bearish, with the 8 SMA showing a slight upward movement, while the 13, 21, and 55 SMAs are declining, further indicating weakness in momentum.

The longer-term perspective is concerning, as the 14-day price change has seen a drop of nearly 24%, reflecting persistent selling pressure. With the current price significantly below the all-time high of $167.09 set in May 2021, there is a substantial gap to recover, further highlighting the bearish sentiment.

In summary, Ethereum Classic is experiencing a challenging market environment characterized by declining prices and weak momentum indicators. Given the current data, I recommend a Sell rating, as the technical and fundamental indicators suggest continued downward pressure and a lack of bullish signals in the near term.