Ethereum Classic (ETC) update – looking pretty soft right now.
ETC is sitting around $6.66–$6.73 after a quiet red day (roughly -1% to -2.7% in the last 24 hours). No big ETC-specific news or drama, just riding the broader market weakness after the hotter-than-expected US CPI print. Volume is average, nothing explosive.
Technically it looks tired. Price is stuck under the key moving averages, RSI is lingering in the mid-30s (weak but not fully washed out), and the overall structure remains bearish on the daily. Immediate support sits near $6.55–$6.57 (recent swing low zone). If that holds we could see a bounce attempt toward $6.75–$6.89. Lose it cleanly and it opens the door for a retest of the $6.40s and possibly the August lows around $6.10–$6.11. Resistance overhead is pretty stacked starting from ~$6.81–$6.82 and then the EMA20 area near $7.16–$7.20.
Network-wise nothing dramatic PoW chain still humming along with its fixed supply schedule (fifthening already happened earlier this year). Macro (PPI on the 13th) is the main near-term catalyst to watch.
Trade idea (not advice, just how I’m looking at it)
Bias: Cautious / slightly bearish short-term until we reclaim some structure.
Long setup: Only interested in a bounce if it holds and bounces cleanly off $6.55 with volume. Tight stop just under $6.50. First targets $6.75 then $6.89. Risk/reward is okay but not amazing given the broader downtrend.
Short setup: Better odds if it fails at $6.80–$6.85 and rolls over. Target $6.55 then $6.40. Stop above $6.95.
Best play right now: Mostly sitting on hands. Wait for either a clear hold + reclaim of $6.90 or a decisive break below $6.55. Chasing either side in this chop feels low quality.
Crypto moves fast and this is just one trader’s read do your own research and manage risk. NFA.
$ETC
ETC is sitting around $6.66–$6.73 after a quiet red day (roughly -1% to -2.7% in the last 24 hours). No big ETC-specific news or drama, just riding the broader market weakness after the hotter-than-expected US CPI print. Volume is average, nothing explosive.
Technically it looks tired. Price is stuck under the key moving averages, RSI is lingering in the mid-30s (weak but not fully washed out), and the overall structure remains bearish on the daily. Immediate support sits near $6.55–$6.57 (recent swing low zone). If that holds we could see a bounce attempt toward $6.75–$6.89. Lose it cleanly and it opens the door for a retest of the $6.40s and possibly the August lows around $6.10–$6.11. Resistance overhead is pretty stacked starting from ~$6.81–$6.82 and then the EMA20 area near $7.16–$7.20.
Network-wise nothing dramatic PoW chain still humming along with its fixed supply schedule (fifthening already happened earlier this year). Macro (PPI on the 13th) is the main near-term catalyst to watch.
Trade idea (not advice, just how I’m looking at it)
Bias: Cautious / slightly bearish short-term until we reclaim some structure.
Long setup: Only interested in a bounce if it holds and bounces cleanly off $6.55 with volume. Tight stop just under $6.50. First targets $6.75 then $6.89. Risk/reward is okay but not amazing given the broader downtrend.
Short setup: Better odds if it fails at $6.80–$6.85 and rolls over. Target $6.55 then $6.40. Stop above $6.95.
Best play right now: Mostly sitting on hands. Wait for either a clear hold + reclaim of $6.90 or a decisive break below $6.55. Chasing either side in this chop feels low quality.
Crypto moves fast and this is just one trader’s read do your own research and manage risk. NFA.
$ETC
