Ethereum Golden Cross: New ATH on the Horizon?
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Ethereum (ETH) is experiencing a surge in bullish sentiment, fueled by a recent “golden cross” pattern on its daily chart. This pattern, where the 50-day moving average crosses above the 200-day moving average, is a classic technical indicator suggesting a potential upward trend. Analysts like Titan of Crypto have highlighted this development, pointing to building bullish momentum. Further bolstering this positive outlook, Ali Martinez notes ETH's breaking of resistance on the 4-hour chart, potentially leading to a price increase to $2,920. More aggressive predictions target $4,000 by the end of the month (Ted Pillows). Technical indicators such as a hidden bullish divergence (Merlijn The Trader) and a Wyckoff Accumulation pattern (Crypto Caesar) also suggest further price increases. The hidden bullish divergence, showing a higher low in price while momentum indicators show a lower low, points to a sustained upward trend despite seemingly weak momentum. The Wyckoff Accumulation pattern, according to Crypto Caesar, indicates a potential new all-time high by August 2025. Supporting the bullish thesis are neutral funding rates, even after an 11% gain in two weeks, indicating room for further growth. The price is currently trading at around $2,740, with projections aiming for $3,500 and potentially beyond. Overall, multiple analysts and technical indicators strongly suggest a bullish outlook for ETH, with the possibility of a new all-time high in the near to medium term. However, it's crucial to remember that these are predictions based on technical analysis and past performance, and the cryptocurrency market remains volatile and unpredictable.
