Ethereum Flashing Bullish Golden Cross: Is a Major Price Rise About to Occur?

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Ethereum, the second largest cryptocurrency by market capitalization, has increased by 9.9% in the past week. Recent analyses suggest that this digital asset may continue its bullish trend in the near future. Ethereum Flashing Gold Cross According to a recent post by cryptocurrency analyst Titan of Crypto, Ethereum has formed a golden cross on the daily chart. A golden cross often precedes significant bullish movements, and the continuation of this bullish price action could push ETH above the $2,000 level soon. For those who don’t know, a golden cross is a technical indicator that flashes when the 50-day moving average crosses above the 200-day moving average. This indicator typically signifies a change from a bearish trend to a bullish trend in the price of the underlying asset. The chart below shows a golden cross, with the upward-sloping red line (MA 50 days) crossing above the downward-sloping blue line (MA 200 days). If this trend continues, it could set the stage for the next bullish rallies, with the $2,000 mark acting as the next psychological resistance level.

Other analysts also support the bullish outlook of Titan of Crypto for ETH. For example, fellow analyst JJcycles shared a weekly chart illustrating the astonishing similarities between the current structure of ETH and the structure of Bitcoin (BTC) in previous cycles.

JJcycles notes that ETH may currently be trading near the bottom of the range - close to the support trend line - similar to the price movement of BTC at around $5,000 after the COVID-19 crash in March 2020. What are the potential targets for ETH? In another post on X, the cryptocurrency trading account Bitcoinsensus pointed out that Ethereum is forming a large bullish flag pattern on the monthly chart. The account noted that ETH is currently near the lower boundary of the flag, with a potential breakout target of up to $8,000.

Similarly, veteran analyst TraderPA believes that ETH is in a re-accumulation phase and may be preparing for a strong bullish run. According to TraderPA, ETH could surge to $6,000 before the year ends.

On-chain metrics also support the case for a reversal of the bullish trend. Cryptocurrency analyst Ali Martinez recently noted that the dormant cash flow adjusted for the entity of Ethereum has dropped below one million - a level that usually indicates that this digital asset is undervalued. Despite positive indicators, concerns about a further decline remain. Ethereum's poor performance in recent months, along with ongoing breaches of key support levels, increases the risk of dropping down to $1,200.

However, ETH is predicted to witness significant bullish momentum in Q2 2025, with some analysts forecasting a new all-time high by the end of the year. At the time of the press release, ETH was trading at $1,755, down 3.3% in the past 24 hours.

ETH1.45%
HAI-0.67%
CHO2.12%
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