Ethereum’s Bullish Surge: Golden Cross & $3K Breakout Paves Way for $4K Rally
Ethereum just flipped the switch from bullish to turbocharged. A golden cross formation and a decisive push past $3,000 have traders whispering about a potential sprint toward $4,000—because apparently, slow and steady doesn’t win the race in crypto.
The Technical Catalyst
That golden cross isn’t just chartist eye candy—it’s a classic signal that momentum is building. And with ETH already punching through $3K resistance, the path of least resistance looks… well, upward. Even the skeptics are side-eyeing their short positions.
The Psychological Threshold
Round numbers matter in crypto like exit liquidity matters to hedge funds—$3K wasn’t just a price point, it was a battleground. Now that it’s cleared, the FOMO gates are creaking open. Next stop? A retest of the $4K neighborhood, where ETH last partied before its 2022 hangover.
Just remember: In crypto, ‘technical analysis’ is sometimes just astrology for finance bros. But hey—when the charts align, even the cynics watch the tape.
Ethereum supply on exchanges, whales, and supply in profit | Source: Santiment
The ethereum price also jumped after SharpLink, a Nasdaq-listed company, bought 10,000 ETH coins. This purchase happened as the number of Ethereum treasury companies increased. Some of the other notable firms are BTCS, BitMine Immersion, and Bit Digital.
Ethereum’s ecosystem is doing well, with the supply of stablecoins in its ecosystem surging to a record high of nearly $130 billion. Its adjusted volume jumped by over 40% in the last 30 days to $573 billion.
Ethereum price technical analysis
Our daily chart shows that Ethereum’s price hit key milestones this week. It crossed the important resistance level at $2,885, its highest level in May, and the upper side of the bullish flag pattern.
Ethereum also moved briefly above $3,000, a crucial psychological level. It also jumped above the 50% Fibonacci Retracement level, a sign that bulls are gaining momentum.
ETH price has also formed a golden cross pattern as the 50-day and 200-day moving averages crossed each other. This performance suggests further gains, potentially leading to the next key milestone at $4,000.
