Ethereum Classic (ETCUSD) moved lower in recent intraday trading amid continued negative pressure from trading below its 50-period Simple Moving Average (SMA), reinforcing the strength and stability of the primary short-term bearish trend. Price action also continues to move alongside a descending trendline that supports the current downtrend. In the background, momentum indicators are generating bearish signals after reaching extremely overbought territory, to an extent that appears excessive relative to the cryptocurrency's price movement, further intensifying the downside pressure.

Therefore, our outlook remains bearish for the cryptocurrency's upcoming intraday trading sessions, as long as resistance at $7.10 remains intact. Under this scenario, the next downside target is seen at the important support level of $6.50.

Today's price forecast: Bearish.