- Ethereum forms a Golden Cross above $2,180, echoing a December 2023 pattern that led to a breakout rally toward $4,000.
- Seven higher lows since May build pressure under $2,840, forming an ascending triangle with breakout targets near $3,300.
- Analysts expect a bullish breakout as Ethereum consolidates above key support zones, signaling sustained institutional interest.
Ethereum’s 50-day moving average has crossed above the 200-day, signaling renewed bullish structure across higher timeframes. With momentum building near a key resistance level, analysts now anticipate a potential breakout toward $3,300.
Golden Cross Resurfaces Ahead of Price Compression
Ethereum’s daily chart shows a classic Golden Cross, often viewed as a precursor to sustained bullish continuation. The crossover aligns with a steady uptrend that began in early May and now holds above $2,700. Price action consolidates beneath the $2,840 resistance while respecting a rising support trendline.
Source: Merlijn The Trader
As we can see from the post above, technical analyst Merlijn The Trader shared a strongly bullish Ethereum setup. The expert highlights a 12-hour chart where the 50-day moving average recently moved above the 200-day. This crossover occurred near $2,180, marking the second Golden Cross since late 2023.
According to the expert, Ethereum responded with higher lows and minor pullbacks, pushing toward $2,660. The earlier crossover from December 2023 led to an extended rally toward $4,000. The current setup reveals consolidation within a narrower zone, but the price remains supported by upward-sloping trendlines.
Moreover, there’s the aspect of sustained strength above dynamic moving average zones. No downside crossover has emerged, confirming continued bullish pressure. The price currently hovers between $2,450 and $2,660, maintaining critical higher support levels.
Ascending Triangle Builds Pressure Under Resistance
A more striking observation is Ethereum’s ascending triangle formation, currently tightening just under the $2,840 resistance. The chart shows seven consecutive higher lows, starting from a May low around $2,280. Compression has lowered volatility, while bulls defend the rising blue support trendline.
Source: CryptoGoos
Looking at it from another angle reveals how another expert, Crypto Goos, has presented a detailed ascending triangle breakout setup. Ethereum trades near $2,731 with a projected target of $3,300 based on pattern height. The move from $2,400 to $2,730 offers a strong base for expansion.
It’s equally important to recognize how this structure mirrors previous consolidations before breakouts. The horizontal resistance matches multiple rejection points on the daily timeframe. A breakout above $2,840 would activate the bullish triangle and target higher zones toward $3,600.
Final Outlook: Analysts Signal Breakout as Market Aligns
Taking this idea to the next level uncovers growing alignment among market experts anticipating Ethereum’s upward continuation. The Golden Cross supports institutional interest and momentum. Meanwhile, the ascending triangle signals breakout readiness with sustained buying pressure and tight consolidation.
Analysts believe Ethereum remains in a bullish structure, eyeing a decisive close above $2,840 to confirm breakout strength.
