Ethereum Price Prediction Rises as Charts Show ‘Golden Cross’ Breakout
Signals**
Ethereum is showing early signs of a bullish reversal, with a potential golden cross reshaping price outlooks.
After rebounding 32% from its early April low near $1,400, $ETH is once again being considered one of the top cryptocurrency to buy.
However, broader economic concerns remain. Progress has slowed as the US-China trade tensions trigger the first negative GDP growth since Q1 2022.
**Why the Golden Cross is Significant**
The golden cross on the 3-day chart marks the first bullish crossover since the post-election surge.
When the 'MACD' crosses above the signal line—especially on longer time frames—it typically signals a strong trend reversal.
Whale activity adds to the intrigue: on-chain data reveals that major investors have been accumulating $ETH in the $1,600–$1,700 range.
Such accumulation by large holders often precedes significant price increases, as it influences market sentiment.
Despite recent turbulence, the bullish symmetrical triangle pattern from 2021 remains intact.
If this month’s reversal holds, the previous breakdown below support could be viewed as a false move.
If momentum fades, however, Ethereum could revisit the $1,400 support zone that underpinned its 4-month decline.
A breach there might lead to a 40% drop to around $1,050, invalidating the bullish setup.
Still, signs of strength are emerging. The RSI has started to rise after bouncing from the oversold 30 level, suggesting seller exhaustion.
Bullish momentum is expanding across longer time frames, with the weekly'MACD' nearing its own golden cross.
Should ETH break through resistance near $1,960 and return to its triangle formation, a rally to $2,520—a 40% gain—could be within reach.
