Ethereum Classic's Resilience Amidst Ethereum's Struggles

Cryptocurrency markets have been abuzz with speculation about which coins could potentially see massive gains, with Panshibi, Ethereum Classic (ETC), and Ethereum (ETH) being among the most discussed. While Ethereum faces bearish pressure, Ethereum Classic has shown resilience, and Panshibi is emerging as a promising new contender.

Ethereum Classic has maintained crucial support levels despite market fluctuations, showcasing stability amid Ethereum's struggles. With its 200-day moving average of $23.15, traders are closely watching Ethereum Classic as it maintains liquidity and resilience in the ever-changing crypto landscape. To confirm its bullish momentum, Ethereum Classic must maintain support above $22.50 and break through resistance at $27.50. If Ethereum's market weakness persists, Ethereum Classic could continue to attract traders seeking a more stable alternative. However, broader market trends will ultimately influence its trajectory, and a potential Ethereum recovery could still impact Ethereum Classic's price movement in the long run.

Ethereum, on the other hand, has declined lately, with its price projected to drop to $2,200. The cryptocurrency has failed to hold above key support levels, with the latest rejection at $3,000 leading to a 13.87% decline. If Ethereum closes below $2,700, analysts predict a 20% drop, pushing prices toward $2,200 in the coming weeks. Additionally, its Relative Strength Index (RSI), nearing the oversold level 30, suggests further bearish momentum. Sentiment remains mixed, as over $321 million in ETH has flowed out of exchanges, hinting at potential accumulation. However, short positions dominate the market, with $325 million worth of shorts at the $2,780 level. If Ethereum sustains a move above $2,817, it could break out of its descending trendline. Yet, with decreasing trading volume and ongoing market uncertainty, Ethereum struggles to reclaim bullish momentum. If the downtrend continues, ETH could fall below $2,359, triggering another sell-off toward $1,905. The MACD indicator also confirms a bearish crossover, further supporting the likelihood of continued declines. Despite the upcoming Pectra upgrade on test