$ETH Ethereum Price Signals 35% Recovery as ETH/BTC Forms a Bullish Pennant

Ethereum price eyes a 35% recovery according to the bullish formation on the daily timeframe chart. This recovery could occur if historical trends align and a bullish crossover has the same impact that it did in the past.

The 50-day moving average (SMA) has crossed above the 150-day SMA, which signals that the short-term momentum is gaining strength. The crossover implies that buy-side pressure is gaining strength and may tilt the trend upwards.

Past data shows that each time this crossover occurred, the price of Ethereum recorded a notable price surge. In November 2024, this SMA crossover sparked a 35% rally that pushed Ethereum price from around $3,000 to above $4,000 in weeks. In November 2023, the crossover sparked bigger gains of more than 115%.

If Ethereum price repeats last year’s trend and surges by 35%, it could soar past $3,500. Such a rally is more likely to occur because, besides having a strong technical structure, institutions are also adopting Ethereum after Sharplink Gaming purchased 176,271 ETH.

#IsraelIranConflict #TrumpTariffs #Tradersleague #BinanceAlphaAlert