ETC drops 7.6% as whale exits and risk aversion hits
Ethereum Classic (ETC)
Editor:
Eugene Serbin
tradersunion.com reports that Ethereum Classic (ETC) is trading at $7.9, posting a daily loss of 7.6% as the asset sits below its key short- and medium-term moving averages. A large whale selloff increased available supply when a major holder exited their position, intensifying selling pressure. This event was compounded by a wider market shift toward risk aversion, leading to further withdrawals from risk assets.
Elevated trading volumes observed during the decline indicate that the market broadly participated in the move. On the hourly chart, ETC/USD trades below its MA-20 at $8.1015 and MA-50 at $8.3106, while remaining above the daily MA-200 at $7.8283. The nearest resistance is the Ichimoku Kijun level at $8.325, with next support around $7.51.
Indicator readings confirm strong downside momentum, with both MACD and ADX showing a sell bias. In the short term, ETC/USD is expected to consolidate within a trading channel between $7.508688 and $8.291312.
How the market reacted
Whalio's own Binance spot order flow for ETC, measured when this story was written up on 10 September 2026. Not the outlet's figures.
Whalio data shows ETC trading at $8.02 with a 1-hour buy ratio of 33.1% and a 4-hour buy ratio of 39.5%, both significantly lower than the 50.0% buy ratio over the last 24 hours. This indicates that buying pressure is fading in the immediate term compared to the daily average. The 1-hour volume delta is -$57,908 and the 4-hour volume delta is -$68,749, meaning more money is flowing out of spot trades than in over these shorter timeframes. Over the full 24 hours, the volume delta is +$15,532, showing that net buying has been positive over the longer period despite the recent dip. The CVD at the 24-hour close is -$182,202, suggesting that cumulative volume has been net selling by the end of the day. Spot volume for the period was $8,699,008 across 66,943 trades.
The latest daily buy ratio of 47.1% sits at the 28th percentile of the last 322 days, against a median of 49.0% - weaker buying than most days.
Was that an ordinary day?
The same Binance spot measurements for ETC, averaged over the days leading up to the story.
Over the preceding week, the 7-day average buy ratio was 50.3%, which is slightly higher than the current 24-hour reading of 50.0%. The latest day's buy ratio is 0.3 points lower than this weekly average, indicating a minor shift away from buying. Volume compared to the average is 2.68x, showing that trading activity is unusually high compared to normal days. The coin saw a price change of +10.2% over the last 8 days, with a total volume delta of +$484,931 for the period. This suggests that despite today's decline, the weekly trend has been strongly positive with above-average volume.