Altcoins News
By Sakamoto Nashi
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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.
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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.
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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.
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This weak reaction stands in stark contrast to the last golden cross in late 2024, where Ethereum quickly surged.
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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.
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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…
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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.
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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.
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However, for Ethereum to start climbing again, it will likely need a fresh wave of liquidity and investor confidence.
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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.
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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.
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