Ethereum has formed a “golden cross” pattern on the 1-week timeframe, marking the second such signal this year. While the long-term implications could be very positive if history repeats itself, there are reasons to temper expectations.
Ethereum Golden Cross And A Possible Target For New ATHs
1W ETHUSD has formed a golden cross for the second time in 2023. A golden cross is a buy signal in moving average-based trading systems. It suggests that the trend is moving in an upward direction and because trends tend to persist, this is notable.
The golden signal occurs when a shorter-term moving average (the 50-week MA) crosses through a longer-term moving average (the 200-week MA) from below. A death cross forms when the opposite happens.
The last confirmed golden cross for Ethereum in December 2020 preceded a massive 600% rally over the next year to the asset’s all-time high near $4,900. A repeat move of similar magnitude this time would put Ethereum above $12,000—over six times to
We współpracy z: https://www.newsbtc.com/news/ethereum/golden-ethereum-signal-bull-market-is-imminent/
