#美国证券交易委员会推进数字资产监管框架创新 Recently, $ETC has been quite weak, continuously declining over the past few days. The current price is stuck at 12.003 USDT, down 4.64% from a few days ago. The 24-hour low touched 11.903, which is very close to the current price. On the other hand, intraday rebounds have been weak, with a 24h high of only 12.780, indicating that buying pressure is indeed limited.

From a moving average perspective, the situation is even less optimistic. MA(7), MA(25), and MA(99) are at 12.441, 13.026, and 14.258 respectively, showing a clear bearish alignment. Short-term moving averages are already being suppressed by long-term moving averages. The price is now trading below all moving averages, which act like resistance lines, making rebounds difficult.

Volume is also problematic—although recent volume has increased, it is accompanied by falling prices, a typical "volume increase on decline" pattern. This indicates aggressive selling pressure and a market sentiment that is quite weak.

Looking at the cycle data more clearly: $ETC has fallen 12.05% over 7 days, 18.38% over 30 days, and even 42.74% over 90 days. Whether short-term or long-term, the downtrend is clearly evident.

Overall, although ETC occasionally shows small rebounds, they lack sufficient volume to support them, and the moving average resistance remains difficult to break through. Without significant positive news to reverse the situation, it is highly likely that the price will continue to weaken, and even break new lows is not surprising.