Ethereum (ETH) is currently struggling to maintain its bullish momentum, despite a recent golden cross on the daily chart—an event that typically signals a strong uptrend. In past cycles, such a pattern has led to major rallies. But this time, Ethereum’s price barely reacted, leaving many traders and analysts wondering if the $3,000 mark is now out of reach.

A golden cross occurs when the 50-day moving average (short-term trend) crosses above the 200-day moving average (long-term trend). It’s usually seen as a powerful bullish signal. In December 2024, this pattern pushed Ethereum up by 18%, briefly reaching the $4,000 level. However, in July 2025, the same signal failed to trigger a rally. This is leading experts to call it a “failed golden cross.”

An analyst known as “Honey” on social media platform X pointed out that Ethereum’s price remained flat around the time of the golden cross, with some slight downward pressure. According to Honey, this lack of price movement shows weak market sentiment and lower liquidity. In simple terms, even though technical indicators suggested bullish momentum, there wasn’t enough buying pressure to push prices up.

This weak reaction stands in stark contrast to the last golden cross in late 2024, where Ethereum quickly surged. Now, instead of building on a bullish setup, Ethereum is showing signs of stagnation. The failed breakout has caused concerns among investors hoping for a quick recovery or a move toward the $3,000 level.

Currently, Ethereum is trading around $2,548, down 2.1% over the last 24 hours. Despite briefly touching $2,630, ETH couldn’t hold that level. Data from CoinGecko confirms that the recent price movements have been choppy, with no clear direction. This has made it harder for bullish traders to maintain confidence in a near-term price surge.

So, what does this mean for Ethereum price predictions? Analysts are turning cautious. Some now believe that Ethereum could face a sluggish Q3, especially if Bitcoin stays below its key resistance near $111,000. When Bitcoin struggles, the rest of the market usually follows. And with Ethereum lacking the strength to break key levels, a return to $3,000 might not happen soon.

Still, Ethereum has managed to hold support near $2,400, which is a positive sign for long-term holders. This level has proven to be a strong base in previous corrections. If ETH can stay above this support and gain momentum, the $3,000 goal could eventually be reached—but it may take longer than expected.

Interestingly, despite the current lack of momentum, not all experts are bearish. Some long-term analysts still see Ethereum hitting $10,000 later in this market cycle. They point to Ethereum’s strong fundamentals, including its large developer base, active DeFi ecosystem, and growing adoption in enterprise blockchain use cases.

However, for Ethereum to start climbing again, it will likely need a fresh wave of liquidity and investor confidence. This could come from positive macroeconomic news, institutional buying, or signs of regulatory clarity. Until then, most analysts are advising patience and watching closely for any signs of renewed strength.

In conclusion, while Ethereum recently formed a golden cross—a sign that typically leads to a rally—it failed to deliver a strong price reaction. This has cast doubt on short-term bullish predictions, especially with ETH stuck in a tight trading range. The failed breakout indicates that Ethereum may continue moving sideways or even face downside pressure unless significant buying returns.

Yet, Ethereum’s long-term outlook remains promising. Even though the path to $3,000 may be delayed, ETH still holds strong technical support and long-term potential. Traders and investors should prepare for a slow and possibly volatile Q3 while keeping an eye on key levels like $2,400 for support and $2,800 as the next major resistance.