#美国证券交易委员会推进数字资产监管框架创新 Looking at ETC's price chart, although there's a short-term rebound, the long-term downtrend remains unchanged.

Recently, the price is around $12.415, up 2.02% in 24 hours, which sounds good, but essentially it's just a slight recovery. The lowest dropped to $12.149, not far from the recent low of $12.022, indicating there is some support below, but the strength is moderate.

Looking at the moving averages—MA7 at 12.792, MA25 at 13.423, and the farther MA99 at 16.270—all are stacked above the current price. As a result, the price is sitting below the moving averages, forming a typical bearish alignment, which is a bit grim.

From a time cycle perspective, it has fallen 10.48% over 7 days, 15.73% over 30 days, and a massive 62.31% over a year, clearly showing a long-term downtrend. In terms of trading volume, there hasn't been much improvement recently; during the rebound, volume didn't pick up, indicating it's mainly a technical correction after being oversold, with little momentum behind it.

What’s next? Two possibilities—either the price fails to break through the MA7 resistance, and $ETC continues to oscillate downward, trying to hold at $12; or it breaks through the moving average resistance with increased volume, possibly rebounding in the short term. However, the long-term outlook still depends on overall market sentiment and whether ETC has any positive catalysts to support it.