The post Ethereum Classic Emerges as Potential Alternative Amid Rising Volume and Investor Confidence appeared on BitcoinEthereumNews.com.

Ethereum Classic (ETC) is gaining traction as a viable alternative to Ethereum (ETH), with recent trends indicating a shift in investor focus. As trading volumes for Ethereum Classic surge, many investors speculate whether the asset is absorbing the liquidity lost by Ethereum. According to a recent report from COINOTAG, “Ethereum Classic has shown resilience, indicating its potential to emerge as a significant player in the market.” Explore how Ethereum Classic is positioning itself against Ethereum, bolstered by rising trading volumes and investor interest in the near future. Ethereum Classic’s price action: A mixed trend At the time of writing, Ethereum Classic was trading at $24.54, reflecting a 1.72% intraday decline. The price movement suggests that while some short-term bearishness is evident, the long-term trend remains promising. Recent charts indicate that ETC has entered a consolidation phase following a robust rally in December. It is trading beneath its 50-day moving average of $26.87 but above the critical 200-day moving average of $23.15. This placement indicates a mixed trend, yet the fact that ETC remains above the 200-day moving average suggests a long-term positive bias, despite short-term fluctuations. Source: TradingView Recent price action for ETC indicates lower highs, which could suggest a potential decline in bullish momentum. However, strong support at the $22.50 level suggests that a bounce-back is possible if the broader market stabilizes. ETH’s loss, ETC’s gain? Conversely, Ethereum is facing challenges, trading at $3,090.12 with a 0.86% decline for the day. Despite still being in a broader uptrend, ETH is struggling to maintain key support levels. The latest figures show that the 50-day moving average for Ethereum is $3,377.56, while the 200-day moving average stands at $2,984.10. A breach below the 50-day moving average could signify a loss of short-term momentum, making ETH more susceptible to additional downside risk.…

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Filed under: News - @ February 2, 2025 3:18 pm