Concern over Ethereum's Failed Golden Cross, is reaching $3,000 now unrealistic?
Technical analysis indicates that Ethereum recently attempted a golden cross on the 1-day candlestick chart, which failed,
A golden cross is generally seen as a strong bullish trend, where the 50-day moving average crosses above the 200-day moving average,
The last time this pattern led to an 18% increase in Ethereum's price was in December 2024, but this time the situation is different,
This time, no significant movement in Ethereum's price has been observed, making it currently difficult to break the $3,000 level,
Analysts state that despite the golden cross, the decrease in price and stagnation indicate a lack of liquidity and investor sentiment in the market,
In such conditions, no significant increase in Ethereum's price is expected, especially when Bitcoin's price is below $111,000. There is also a possibility of stagnation and uncertainty in the third quarter under the current market conditions,
Currently, Ethereum's price is approximately $2,548, showing a decrease of 2.1% in the last 24 hours,
If Ethereum is to surpass the $3,000 level, it will require an increase in liquidity and investor confidence, which is not currently in sight,