Is the Golden Cross trigger of Ethereum’s failed Golden Cross worrying about a daily dream of $3,000?

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Technical analysis shows that Ethereum has The golden cross showing failure In 1 day candlestick timeline chart. The gold cross is widely regarded as a bullish momentum signal. This technology is formed, with the 50-day moving average climbing above the 200-day moving average, last happened on Ethereum’s daily candlestick chart, which in December 2024, resulting in an 18% increase.

However, the story this time is very different. quite Instead of triggering another gatheringEthereum price action Very flat, It’s hard to imagine that it will soon break through $3,000.

Lack of follow-up indicates weaknesses in Ethereum

According to technical analysis initially pointed out on social media platform X, Ethereum recently showed the Golden Cross. However, according to analysts, this is a failed golden cross, as Ethereum’s price has barely increased over the day-to-day timeframe.

Analysts with honey on social media platforms, Point out the lack of exercise Deeper issues are shown in the current market conditions, especially in terms of liquidity and emotion. The Golden Cross should inject life into Ethereum’s price action, but It shows no motivation.

The price performance of Ethereum after crossover makes the model more like a false signal than a gold crossover. The figure below shows that although the moving average does cross, the price movement around that moment was smooth and even slightly bearish. This is a huge difference from what happened in December 2024, when the same pattern was followed by a rapid rise push. At that time, Ethereum’s price surged about 18%, touching $4,000 very briefly.

Returning $3,000 may take more time than expected

The bigger gain is not only a failed breakthrough, but also a coming quarter. According to analysts, the entire cryptocurrency market may witness a shorter and rough Q3, especially if Bitcoin is below $111,000.

In this environment, it is hard to imagine Ethereum will soon make a $3,000 milestone in the near future. Lack of motivation for bullish forecasts is not very respectable, even if Ethereum has reached the target Maintain its foundation on the support level About $2,400.

At the time of writing, Ethereum traded at $2,548, down 2.1% in the past 24 hours. Data from Coingecko shows Leading altcoins have reached Intraday highs were $2,630 in the past 24 hours, but did not support that momentum. To get Ethereum to break into its current region and raise it to $3,000, it will require a wave of liquidity and confidence.

This recent volatility is difficult for Ethereum’s bullish outlook Its long-term prospects Relatively strong. Interestingly, a specific analyst believes that Ethereum is This cycle exceeds $10,000.

Featured images from Istock, charts from TradingView.com

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