Ethereum Price Hits Golden Cross as Researchers Outline Quantum-Resistant Plans
The Ethereum price has formed a golden cross as it trades within a key range. The signal has renewed bullish talk among traders, while researchers from the Ethereum Foundation review proposals for the Hegotá upgrade.
A golden cross occurs when a shorter-term moving average moves above a longer-term moving average. This setup is often watched by traders as a sign of increasing buying pressure. MikybullCrypto noted that the last time this happened, the price surged by over 90%, but it's uncertain if Ethereum will repeat this performance.
The ETH crypto is currently facing resistance at $2,530 and has repeatedly attempted to break above it without success. Crypto Patel suggests that a two-hour candle close above this level would confirm a breakout from the range, potentially putting $3,000 within reach. However, losing support below $2,370 could lead to a decline towards $2,000.
The Ethereum Foundation's Protocol Cluster has published updates on the proposed Hegotá upgrade, reviewing 62 EIPs and outlining current and emerging priorities across the protocol teams. The foundation aims to make Ethereum's Layer 1 quantum-resistant by December 2029 as part of its long-term research and development plans.