Currently, Ethereum displays one of the strongest bullish signals in technical analysis—a golden cross, suggesting a potential rise to the $3000 level.
What is a Golden Cross?
A golden cross is a technical pattern that signals possible long-term asset growth when the 50-day moving average crosses above the 200-day moving average. This indicator is often interpreted as a sign of increasing volatility and momentum.
Current Price Situation for Ethereum
Ethereum remains consistently above a rising trendline that has served as support since late April. Despite brief dips below the 26-day moving average, buyers have quickly reversed these fluctuations, confirming the presence of bullish momentum. In the coming days, maintaining support around $2450 will be critical.
Key Support and Resistance Levels
After bouncing off the $2475 support zone, the price is currently targeting the $2600-$2650 range, which serves as a short-term resistance level. A breakout above $2650 could open the way to $2850 and eventually $3000. Conversely, the $2300 region remains crucial; if the price drops below it, the outlook may shift from neutral to negative.
This moment is critical for Ethereum. The success of the golden cross and stabilization above $2600 could lead to significant gains, while violations of critical support levels may negatively impact the current bullish sentiment.
