ETCUSDT fell to $16.44, marking an 11% decline from its 24-hour high, as bearish technical indicators dominated the market. The daily chart revealed a bearish engulfing pattern, with the price breaking below the key $18 support level. Trading volume reached approximately 3.63 million ETC, valued at $62.2 million, indicating significant volatility. Technical analysis showed the 20-period and 50-period moving averages on the 15-minute chart crossing downward, reinforcing the bearish trend. The 50-period MA on the daily chart also crossed below the 100-period MA, confirming the negative outlook. Despite the RSI entering oversold territory, suggesting a potential short-term rebound, the lack of reversal candlesticks or volume confirmation points to continued downward pressure.