Ethereum's Golden Cross at above $2,400 illustrates a possible bullish extension to $2,800 and $3,550.
Price consolidation at $2,400 to $2,700 favors accumulation, with volume-based breakouts aimed at Fibonacci levels at $3,071.
Support levels at $1,954 and $1,754 provide fallback zones, maintaining bullish structure above key moving averages.
Ethereum’s price action signals a major inflection point as a second Golden Cross formation develops on higher timeframes. With momentum consolidating above key moving averages, technical setups suggest potential continuation toward mid-term upside targets.
Golden Cross Formation Mirrors 2023 Setup
Ethereum's structure reflects an early 2023 breakout, where a Golden Cross triggered a sustained rally. The current crossover forms above $2,400, with both moving averages trending upward. Market observers highlight this level as a foundational base for potential trend acceleration.
At this stage of the pattern, ETH trades around $2,516, consolidating above the crossover zone. The shorter-term moving average has crossed above the longer-term trend line, forming the Golden Cross. Historically, this pattern precedes prolonged upside if volume and trend strength align.
Tracking price behavior from early 2023, ETH responded to the prior Golden Cross with a breakout and steady rally. The current setup shows a similar structure, with higher lows and consolidation before the crossover. The shaded projection zone on the chart points toward $2,800 and $3,550 as forward targets, referencing previous cycle tops.
Support remains established above the moving average base, while resistance holds at $2,700. Candlestick formations reflect market hesitation, with smaller-bodied candles at the upper bound. Could this sideways action signal bullish absorption or exhaustion?
Range Compression and Upside Trigger Zones
Ethereum continues to trade within a clean horizontal range between $2,400 and $2,700, allowing momentum to recalibrate. Breakouts above this range could target Fibonacci extensions aligning near $3,071.
Momentum indicators now present a different scenario, reflecting compression rather than divergence. A rounded bottom has formed near the $2,400 support, often signaling hidden accumulation. Traders highlight this formation as a base-building structure, consistent with pre-rally behavior in similar contexts.
Considering historical reactions around $2,700, breakout attempts have faced rejection without sustained volume. Still, ETH holding above the 50-day and 200-day MAs strengthens bullish conviction.
To build on this, volume confirmation remains key. Breakouts lacking participation risk fading into prior ranges. However, sentiment from market observers suggests growing confidence as ETH maintains structure near multi-week highs.
In addition, support zones at $1,954 and $1,754 provide fallback levels if the price rejects from overhead resistance. This has led to a tightly defined trading channel, giving traders clean invalidation levels and defined upside targets as the next directional move nears.
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