Ethereum’s 50-day EMA is about to cross above the 200-day EMA, signaling a possible repeat of a prior 35% price surge.
ETH consolidates above the 200-day EMA near $2,710, building momentum toward a potential breakout between $3,200 and $3,500.
Historical golden cross patterns in Ethereum’s price action indicate this crossover could ignite significant upward movement soon.
Ethereum is approaching a key technical milestone as market activity shows growing bullish pressure. The asset is trading just above the 200-day EMA, with signs of a golden cross forming.
Ethereum Approaches Golden Cross With Historical Support
A golden cross is forming on Ethereum's chart, where the 50-day EMA is about to cross above the 200-day EMA. This technical pattern is often seen as a shift from bearish to bullish momentum. In the previous occurrence, Ethereum surged 35% within weeks, rallying over $1,000.
Currently, ETH is consolidating near $2,710, holding steady above the 200-day EMA. The 50-day EMA is rising rapidly, suggesting bullish continuation. According to @TedPillows, the setup could act as a launchpad for another major rally. If history repeats, a move toward $3,200–$3,500 could unfold after the crossover.
The convergence of these EMAs tends to attract algorithmic and institutional investors. With market conditions aligning once again, Ethereum’s technical structure is being closely watched by traders.
Whale Accumulation Reaches Record Levels in 2024
Glassnode reported that whale activity has intensified sharply in June. Wallets holding between 1,000 and 10,000 ETH have collectively accumulated over 14.3 million ETH. On June 12 alone, these wallets added over 871,000 ETH, marking the highest daily net inflow of the year.
This buying trend hasn’t been recorded at this scale since 2017. Sustained accumulation of this magnitude often provides strong support levels and reflects high confidence among large holders. It also coincides with Ethereum’s consolidation phase above key technical levels.
Such whale behavior can act as a precursor to price expansion, especially when supported by positive technical signals.
Ethereum Macro Flag Suggests Long-Term Upside
Bitcoinsensus noted that Ethereum has remained inside a macro bullish flag since 2021. Each touch of the flag's lower trendline has sparked rallies, and the current cycle is again showing upward movement.
The pattern’s breakout target is estimated at $8,000. This long-term structure, combined with present technical conditions, supports the view of a potential expansion phase. Ethereum's steady structure and volume activity reinforce this narrative without speculative bias.
With multiple bullish indicators forming simultaneously, Ethereum remains a key asset to monitor in the current market cycle.
The post Will Ethereum’s Golden Cross Spark a Major Price Surge Like Before? appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
