Ethereum Classic (ETC) is currently trading at $10.81, reflecting a notable decline of 6.06% over the past 24 hours. The daily trading range has been relatively tight, with a low of $10.61 and a high of $11.50, indicating limited volatility despite the price drop.

The trading volume stands at approximately $73.96 million, representing 4.41% of the market capitalization, suggesting moderate interest from traders. The short-term moving averages show mixed signals, with the 8 SMA indicating a slight upward movement (+0.42%), while longer SMAs demonstrate significant downward pressure, particularly the 55 SMA (-4.49%) and 144 SMA (-5.05%).

The 1-hour RSI at 28 indicates that ETC is approaching oversold territory, which could suggest a potential short-term bounce. However, the 7-day RSI at 43 remains below the neutral level, reflecting bearish sentiment that has persisted over the week.

Price action over the past 14 days shows a decline of approximately 14.55%, while the 30-day change further underscores the bearish trend with a drop of around 8.93%. These metrics indicate a lack of upward momentum, as traders remain cautious in the current market environment.

Historically, Ethereum Classic reached an all-time high of $167.09 in May 2021, but the current price reflects a significant contraction in value. The consistent downward trajectory coupled with negative short-term momentum suggests that a cautious approach is warranted.

Given the technical indicators pointing to continued bearish pressure and the overall market sentiment, the recommendation for Ethereum Classic (ETC) is to Hold. This approach allows for potential recovery while avoiding the risk of further declines in the current environment.