📉 ETHEREUM WARNING: Golden Cross Fails, Is $3,000 Out Of Reach For Now?
Ethereum's recent 1-day candlestick chart showed a failed Golden Cross attempt, raising concerns.
* A Golden Cross (50-day MA crossing above 200-day MA) usually signals strong bullish momentum.
* Last December, this pattern led to an 18% ETH price jump. This time, there's been no significant movement.
* Analysts say this "lack of bounce" despite the Golden Cross indicates low market liquidity and weak investor sentiment.
Current Outlook & Price Action:
* ETH is currently around $2,548, down 2.1% in the last 24 hours.
* Reaching $3,000 seems unlikely now without a boost in liquidity and investor confidence.
* No significant upside is expected, especially with Bitcoin below $111,000. Q3 may see continued sluggishness.
Long-Term Potential Remains:
* Despite short-term hurdles, Ethereum's long-term prospects are strong. Some experts still believe ETH could hit $10,000 this cycle.
The failed Golden Cross casts doubt on ETH's near-term performance. Investors should remain cautious as $3,000 looks difficult to achieve soon.
#ETH #Ethereum #GoldenCrossAlert #CryptoAnalysis #MarketUpdate
