$ETC 5 minutes RSI crashed to 4.7. Such an extreme value—the last time I saw it was during the first few rounds of the recent selloff.
Current price 6.842
First, let’s look at the daily structure. From 7.696 downwards, there has been nearly a month of continuous downward drift. EMA9 is at 6.974, EMA21 at 7.035, and EMA50 at 7.163—all three moving averages are above the price, forming a classic bearish alignment. It’s a typical downward channel. Daily RSI14 has already dropped to 39.2, moving down further from the previous candle’s 44.3. The MACD histogram is still positive at 0.003, but compared with the previous 0.013 it is shrinking rapidly—heading toward a dead cross.
The 4-hour timeframe is clearer. RSI14 is at 33.5, down another leg from the previous 38.2. The MACD histogram has been expanding further in negative territory at -0.0126, and the bears are still accelerating. All EMAs are diverging downward. The 9-line at 6.942 is still about 7 points above the current price—near-term pressure is clear.
Key price levels. At 6.800—this area has been tested repeatedly three times over the past 15 days, and the 24-hour low also tagged 6.800. Right now the price at 6.842 is hovering just above this support by less than half a point. The 30-day low is at 6.593. If 6.800 can’t hold, the next stop is there.
Funding/flows. Funding rate is -0.0249%. A negative value means the shorts are paying. This rate isn’t extreme, but the direction is problematic—the market consensus is bearish. Over the past 24 hours, ETC volume is 1.91 million contracts, with a contract value of 13.32 million U. Volume is moderate: no panic-driven selloff spikes, and no obvious dip-buying inflow.
I’ve seen this kind of situation before. Being oversold to the extreme doesn’t necessarily trigger an immediate rebound, but there isn’t much room left for further deep declines. 6.800 is the last line of defense for the bulls—if it breaks, you’ll need to watch the 6.60 area. If it holds, there is a chance to rebound into the 6.94–7.00 range.
My view: slightly bullish. Extreme RSI oversold + key support confirmed repeatedly—here the risk/reward for going short is already quite poor. But it’s not a mindless dip-buy spot; you still need to see a “stop declining” signal.
Nini’s plan
Current price 6.842
Bias: slightly bullish
Execution conditions: A 4-hour close holds above 6.800 and RSI turns upward before entering—don’t try to guess the bottom
Entry zone: 6.800–6.850
Stop-loss: 6.750 (if it breaks 6.800 support, allow 50 points of tolerance)
Target levels: 6.950 / 7.050 / 7.150
At an extremely oversold level, the people losing money would have already cut. What’s left is patience and discipline.
#ETC #ETCUSDT # Ethereum Classic