Ethereum Price Is About To Confirm A Golden Cross On The Daily Time Frame, Here’s What Happened Last Time
04 Dezembro 2024 - 1:00PM
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Crypto analysts have revealed that the Ethereum price is about to
confirm a golden cross on the daily time frame. This provides a
bullish outlook for Ethereum, as it enjoyed a parabolic rally the
last time this happened. Ethereum Price To Confirm Golden
Cross, What Next? In an X post, crypto analyst Tony Severino
mentioned that the Ethereum price is heading to a golden cross this
week. This golden cross occurs when a short-term moving average
(MA), like the 50-day MA, crosses a long-term MA, like the 200-day
MA. This typically indicates that the crypto in question is set to
enjoy a long-term upward trend. Related Reading: Analyst Says
Dogecoin Price At $1.3-$1.5 Is Still Possible, Here’s Why Crypto
analyst Charting Guy also confirmed this development for the
Ethereum price and provided insights into what happened the last
time Ethereum witnessed this golden cross. In an X post, the crypto
analyst shared a chart that showed what happened combined with the
fractal from that time. Coincidentally, the last time the
Ethereum price confirmed this golden cross on the daily timeframe
was between November and December last year. Following the Golden
Cross, Ethereum rallied from around $1,800 last year to a local top
of around $3,600 in March earlier this year. If history were
to repeat itself, the Ethereum price could again witness such a
sustained upward trend into the new year. Charting Guy’s
accompanying chart showed that Ethereum could rally to as high as
$8,000 sometime between March and May next year. Ethereum is
already showing signs of an upward momentum, having rallied these
last few days while Bitcoin consolidates. The Ethereum price
has already reclaimed the local top of $3,600 from earlier in the
year. Meanwhile, Blockchain Center data shows that it is already
altcoin season. This is when Ethereum and other altcoins record
significant gains while Bitcoin’s dominance cools off. For context,
over 75% of the top 50 crypto have outperformed BTC in the last 90
days. Breakout And Then Moon In an X post, crypto analyst
Titan of Crypto suggested that an Ethereum price breakout was
imminent. He stated that once ETH escapes the 3-year symmetrical
triangle, it will rally to new heights. The analyst’s accompanying
chart showed that Ethereum could surpass its current all-time high
(ATH) at $4,800 and rally as high as $7,000. Related Reading:
Cardano Next In Line After XRP? ADA Price Targets $4.88 In Epic
Breakout Crypto analyst Venture Founder also made a similar $7,000
prediction for the Ethereum price. This came as he highlighted a
giant cup and handle triangle that has been forming for Ethereum
since 2021. The analyst added that ETH could explode once it
confirms the breakout above the $3,800 range. At the time of
writing, the Ethereum price is trading at around $3,670, up in the
last 24 hours, according to data from CoinMarketCap. Featured
image created with Dall.E, chart from Tradingview.com
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