Ethereum Classic (ETC) Price Faces Renewed Selling Pressure, Testing Critical Support at $14.30

Ethereum Classic (ETC) is navigating through turbulent waters as its price faces renewed selling pressure. Despite the recent volatility, ETC continues to hover just above a critical support level

Ethereum Classic (ETC) is encountering turbulent waters as its price is subjected to renewed selling pressure. Despite the recent volatility, ETC continues to hover just above a critical support level, a line in the sand that could determine its near-term fate.

At the time of writing, ETC is trading at $15.03, showing a decline of over 3% within the past 24 hours, according to CoinMarketCap. With a market capitalization of $2.27 billion, the token currently occupies the 37th position among the largest cryptocurrencies.

However, while it manages to maintain its ranking, cracks are beginning to emerge as the broader crypto market grapples with uncertainty, and external geopolitical tensions are only intensifying the difficulties.

Global Tensions Spill Into Crypto Markets

The overall sentiment across global financial markets remains fragile. Trade negotiations between the United States and China have stalled, with China reportedly withdrawing from the discussions and demanding “respect” from Washington. The European Union has also expressed pessimism, suggesting that no resolution is in sight.

Amidst the deadlocked talks, the White House has imposed a staggering 245% tariff on Chinese imports, a move that has further dampened investor morale. As risk appetite across traditional markets wanes, the crypto space is not immune to the spillover effects. The result is increased volatility, lower trading volumes, and heightened caution among traders.

$14.30 Crucial for ETC, Breakdown Could Hit $8

Crypto analyst Ali Martinez provides his insights on Ethereum Classic’s price action, using a chart spanning 2023 to 2025. The analyst highlights ETC’s testing of a critical support at $14.30, a level identified using Fibonacci retracement and historical price patterns.

According to the analyst, a breakdown below this support could lead to a substantial drop to $8, a significant decline from current levels. The chart showcases ETC’s price volatility, with past peaks above $30 in 2023, but a downward trend in 2025, reflecting bearish market sentiment.

Martinez notes that broader market sentiment, often closely linked to Bitcoin’s performance, might be driving ETC’s bearish outlook. The combination of technical analysis, historical context, and market dynamics paints a challenging picture for ETC, with Ali’s $8 price target reflecting the ongoing struggles of the token to maintain relevance and value.