Ethereum Classic (ETCUSD) price recorded a decline in its latest intraday trading, amid continued negative pressure resulting from trading below its 50-day SMA, which reinforces the stability and dominance of the main bearish trend, especially with price moving alongside a short-term minor trendline supporting this path. In addition, the Stochastic indicator is showing negative signals, which increases the surrounding downside pressure.

Therefore we expect the cryptocurrency price to decline during its upcoming intraday trading sessions, as long as resistance at $8.40 remains intact, targeting the key support level at $7.85.

Todays price forecast: Bearish