Ethereum Classic trades near $17.21, down 0.80%, showing limited momentum

Price stays below key moving averages, signaling a bearish short-term bias

Resistance at $18.20 holds strong; support between $16.00–$16.80 remains intact

MACD shows weak bullish signs, while RSI confirms consolidation

Ethereum Classic (ETC) is currently trading at approximately $17.21, reflecting a slight decline of around 0.80% in the last session. The market trend is sideways to slightly bearish, with price action stuck between defined support and resistance zones. Ethereum Classic has been range-bound, lacking the momentum needed to break out in either direction, suggesting indecision among market participants.

Ethereum Classic Struggles to Break Resistance Zone

Price is positioned below the 9-period EMA ($17.48) as well as the 20, 50, 100, and 200 SMAs, which are spread from $17.37 to $18.19. This alignment of moving averages above the current price indicates a bearish structure in the short to medium term.

Every attempt to push higher has been rejected around the $18.20 mark, where strong resistance is present, also reinforced by the 100 and 200 SMA levels. On the downside, support between $16.00 and $16.80 has held multiple times, showing that buyers are active at lower levels, preventing a clear breakdown.

Ethereum Classic (ETC) Struggles Below Key Averages, Eye Breakout from $16–$18 Range 9

Momentum indicators present a mixed picture. The Relative Strength Index (RSI) is hovering in the neutral zone between 44.50 and 53.22, pointing to a lack of strong momentum in either direction. It confirms the consolidation pattern seen in the price.

The MACD, however, is showing a minor bullish crossover, with the MACD line slightly above the signal line. This hints at potential short-term buying pressure, though the signal remains weak at this stage.

Ethereum Classic (ETC) Struggles Below Key Averages, Eye Breakout from $16–$18 Range 10

ETC is in a neutral-to-weak position at the moment. Key levels to watch are $18.20 on the upside for a breakout and $16.80 on the downside for a breakdown. A move outside of this range will likely define the next leg of the trend. Until then, the price is caught in a tightening zone with limited momentum.

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Filed under: Bitcoin - @ June 5, 2025 7:30 am