- Ethereum is close to completing a crossover between the 50-day EMA above the 200-day EMA, which could signal the start of a similar price increase as the previous 35%.
- ETH is consolidating just above the 200-day EMA around $2,710, and is starting to build strength to break out between $3,200 and $3,500.
- Looking back at gold cross patterns in Ethereum’s price movement, his crossover may cause upward momentum to happen sooner than later.
Ethereum is nearing a crucial technical level, with market activity indicating a rising bullish sentiment. The asset was trading just above the 200-day EMA and has th signs of a golden cross emerging.
Ethereum Approaches Golden Cross With Historical Support
A golden cross is forming on Ethereum’s chart, where the 50-day EMA is about to cross above the 200-day EMA. This technical pattern is often seen as a shift from bearish to bullish momentum. In the previous occurrence, Ethereum surged 35% within weeks, rallying over $1,000.
As of writing, ETH is consolidating near $2,710, holding steady above the 200-day EMA. The 50-day EMA is rising rapidly, suggesting bullish continuation. According to TedPillows, the setup could act as a launchpad for another major rally. If history repeats, a move toward $3,200–$3,500 could unfold after the crossover.
The convergence of these EMAs tends to attract algorithmic and institutional investors. With market conditions aligning once again, Ethereum’s technical structure is being closely watched by traders.
Whale Accumulation Reaches Record Levels in 2024
Glassnode reported that whale activity has intensified sharply in June. Wallets holding between 1,000 and 10,000 ETH have collectively accumulated over 14.3 million ETH. On June 12 alone, these wallets added over 871,000 ETH, marking the highest daily net inflow of the year.
This buying trend hasn’t been recorded at this scale since 2017. Sustained accumulation of this magnitude often provides strong support levels and reflects high confidence among large holders. It also coincides with Ethereum’s consolidation phase above key technical levels.
Such whale behavior can act as a precursor to price expansion, especially when supported by positive technical signals.
Ethereum Macro Flag Suggests Long-Term Upside
Bitcoinsensus noted that Ethereum has remained inside a macro bullish flag since 2021. Each touch of the flag’s lower trendline has sparked rallies, and the current cycle is again showing upward movement.
The pattern’s breakout target is estimated at $8,000. This long-term structure, combined with present technical conditions, supports the view of a potential expansion phase. Ethereum’s steady structure and volume activity reinforce this narrative without speculative bias.
With multiple bullish indicators forming simultaneously, Ethereum remains a key asset to monitor in the current market cycle.
