Ethereum Prints Bullish Golden Cross, Surges Past $2,500
Ethereum has printed a bullish golden cross, according to CoinMarketCap analytics. The price of ETH has surged by over 4% in the last 24 hours, mirroring the 3.84% increase of Bitcoin's price. This uptrend bodes well for both assets and could have a ripple effect on other altcoin prices.
The bullish sentiment is building as analysts believe that the bear market has ended and the crypto market is entering an early bull market phase. However, to confirm this, BTC and ETH need to surpass certain price levels: $82,000-$84,000 for BTC and around $3,000 for ETH.
One analyst notes that if ETH can hit higher targets between $3,000 and $3,500, it could lead to several altcoin assets surging as well. The ETH price chart showcases a bullish golden cross, which has historically preceded significant price gains. In the past, when Ethereum confirmed this exact moving average cross following a 50% crash, the price of ETH expanded by over 97.9%.