Ethereum Classic has recently shown more stable trends compared to Ethereum, capturing investor interest.
Contrasting Performance of ETC and ETH
Both Ethereum Classic and Ethereum are displaying different price movements and volume trends. As of the current writing, Ethereum Classic was trading at $24.54, reflecting a 1.72% intraday decline. However, its price remains above the 200-day moving average of $23.15, indicating a long-term uptrend.
ETC's Rising Momentum
ETC's trading volume has been steadily increasing, reaching 584.46M, indicating renewed investor interest. Meanwhile, Ethereum is trading at $3,090.12, showing a 0.86% decline for the day and struggling to maintain key support levels.
Impact of Trends on ETC's Future
ETC must maintain its current trading volume and stay above the $22.50 support zone to continue attracting attention as a strong alternative to Ethereum. If Ethereum's weakness persists, ETC has the potential for further traction. However, ETC's close correlation with Ethereum means broader market trends will impact its trajectory.
Ethereum Classic continues to show increased investor interest amidst falling Ethereum trading volumes. Though its strong correlation with Ethereum makes it susceptible to overall crypto market trends, its independent volume surge suggests that investors are beginning to treat it as an independent asset.
