Ethereum Classic Price Volatility Continues as Support Level Holds

Ethereum Classic has been trading within a volatile intraday range as it tries to recover from previous losses. The key support level at $7.00 continues to hold, providing positive momentum for the cryptocurrency. However, the short-term bearish corrective wave remains in control, and continued trading below the 50-period Simple Moving Average (SMA) maintains negative pressure.

The price is attempting to work off its oversold conditions on the momentum indicators, with fresh bullish signals beginning to emerge. However, if it breaks below the $7.00 support level, the price is expected to target the next support level at $6.60.