ETCUSD price recorded a continued decline in its latest intraday trading, under the dominance of the main short-term downtrend, with price action moving along a minor trend line supporting this bearish path. Negative pressure remains elevated due to trading below its SMA50, which increases downside risk, especially with ongoing negative signals from the RSI, despite the indicator reaching deeply oversold territory.

Therefore we expect the cryptocurrency price to decline in upcoming intraday trading, as long as the $8.85 resistance level remains intact, to target the main support at $7.00.

Expected trading trend: Bearish