Ethereum (ETH) recently experienced a technical pattern feared by traders: the 'death cross', when the 50-day moving average crosses below the 200-day moving average. Historically associated with bearish trends, this crossover has sparked a wave of analysis in the community.
Cointelegraph, The Block, and specialists like Benjamin Cowen and Michael van de Poppe have agreed: the pattern can be misleading in an optimistic macroeconomic environment filled with institutional accumulation.
According to Glassnode, on-chain indicators show that long-term holders continue to accumulate ETH. Meanwhile, Arthur Hayes, former CEO of BitMEX, points out that this could be the prelude to a new rally of Web3-linked tokens.
