Ethereum Price Prediction Rises as Charts Show ‘Golden Cross’ Breakout
The top cryptocurrency is showing early indications of a bullish reversal—a golden cross might change Ethereum price estimates.
A 32% rebound from early April's low around $1,400 has put ETH back in the “best crypto to buy” discourse.
Still, economic uncertainty prevails. The progress has slowed as the US-China trade conflict causes the first negative GDP growth since Q1 2022.
Why This Golden Cross Matters
Interestingly, the 3-day chart's golden cross is the first bullish flip since the post-election rise.
When MACD crosses over the signal line, particularly on higher time frames, a strong trend reversal generally begins.
Recent whale activity intrigues. On-chain data shows large shareholders buying Ethereum for $1,600–$1,700.
Since whales affect market sentiment, this accumulation generally precedes price pumps.
Despite recent volatility, a bullish symmetrical triangle pattern formed in 2021 remains.
In the event that the month's reversal holds, the drop below lower support may be considered a false breakdown.
If momentum dies, Ethereum might revert to the $1400 support zone that supported its 4-month slide.
A breakdown there would allow a 40% drop to $1,050, invalidating the pattern.
However, strength is developing. RSI has started rising after recovering from oversold area at 30, a sign of local bottoms as sellers tire.
Bullish momentum is now spreading to higher timeframes, with the weekly MACD approaching its golden cross.
Ethereum might reach $2,520—a 40% increase—if it breaks resistance around $1,960 and returns to the triangle formation.
