Ethereum Classic Prices Remain Caged Under Bearish Pressures

Ethereum Classic (ETCUSD) continues to struggle under the weight of negative pressures in its recent intraday trading sessions. The cryptocurrency remains firmly entrenched within a short-term downtrend, with price action adhering closely to a descending trendline that reinforces the prevailing bearish bias.

The selling pressure on Ethereum Classic is further amplified by its inability to break above its 50-period Simple Moving Average (SMA), which currently stands as dynamic resistance and limits any potential for a sustained recovery in the near term.

Momentum indicators have also begun to generate fresh bearish signals, following their previous overbought readings. This added downside pressure is likely to target the support level at $6.25, provided that resistance at $6.60 remains intact.