A rare type of “Golden Cross,” often seen only when the investment trend is changing, signals that ETH $ETH is poised for a strong upward move.
Institutional interest in the ETH token has increased significantly since last week , contributing to bullish expectations for the largest altcoin.
Despite a slight decline this morning, Tuesday, July 15, the price of Ethereum is attempting to hold the $3,000 level as support. Now, however, thanks to the formation of a rare bullish signal on the daily chart, Ethereum may be ready to test a breakout of the $4,000 level.
Institutional interest in Ethereum remains high
Large institutional investors continue to express optimism about the market's leading altcoin.
Farside data shows that US spot Ethereum ETFs have seen over $259 million in inflows. As of this writing, Bitcoin has seen a slight decline, while Ethereum is down less than 2%, clearly indicating that ETH's dominance is growing, though it still lags far behind BTC.
In addition to ETFs, a growing number of companies are also opting for an Ethereum treasury. One well-known example is SharpLink Gaming , which holds over 205,000 ETH (worth approximately $615 million), but smaller players are also following suit, including Bit Digital , which plans to purchase $67.3 million in Ethereum.
While Ethereum's price is still hovering around $3,000, the altcoin is attracting significant attention from corporations, institutions, and even Wall Street . Major investors have identified the ETH token as an ideal investment for gaining exposure to the growing decentralized finance ( DeFi ) sector. Furthermore, it will soon be possible to earn passive income through staking on Ethereum ETFs.
The above developments point to a positive future for Ethereum . And the asset's small gain in dominance this week is a clear sign that a strong rally is not far off.
This sentiment is further reinforced by a rare crossover pattern visible on Ethereum's daily chart.
Could Ethereum price surge to $4,000 on this rare signal?
Analysts are very positive about a recent crossover between the 100-day exponential moving average (EMA) and the 200-day EMA. This is a rare type of "golden cross" that often occurs only when the investment trend is changing. In this case, the golden cross signals that ETH is poised for a strong upside move.
The 50-day EMA can also cross above the 100-day or 200-day EMA. However, because this indicator is more sensitive to short-term price fluctuations, a crossing with the 50-day EMA is less accurate in indicating a trend change.
The image below shows that Ethereum still has a high relative strength index (RSI) . Above the oversold level of 70, the risk of further decline remains; as a result, ETH could drop to $2,800 before potential buying pressure at this level supports the price again.
At the time of writing, Ethereum's price is just above $3,000 . If the altcoin closes above this level today, it will clearly turn into further support.
This will help ETH rise further towards the resistance of $ 3,200 . A further breakout above this crucial level will facilitate a move towards the psychological levels of $3,500 and $ 4,000 .
Growing institutional interest in Ethereum supports the possibility of the altcoin continuing its upward trend over the summer. If it quickly reaches its December high of $4,000 , consolidation or a further increase towards the all-time high of $4,892 could follow . A new Ethereum ATH would be a major catalyst for an upcoming altcoin season .
In addition to the ETH token itself, meme coins built on the Ethereum blockchain have also become much more popular than, for example, Solana meme coins.
Similar to the 2021 bull run, Ethereum's meme coins could gain significant value in the upcoming altcoin season. Investing early in strong meme coins offers the opportunity to make significant profits this summer.
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