Traders and investors are closely watching Ethereum (ETH) after the second largest cryptocurrency by market capitalization formed a bullish “Golden Cross” technical pattern.
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Ethereum is currently trading at $2,500 but appears poised for a breakout and run back near $3,000 after forming a Golden Cross. A Golden Cross is a bullish signal that occurs when a security’s 50-day moving average rises above the 200-day moving average.
A Golden Cross has historically preceded significant upward trends in cryptocurrencies such as Ethereum. Chart analysts also note that there has been strong volume support around ETH in the past 24 hours, further making the case for a price breakout.
Recovery Pattern
Current charts show that Ethereum is now forming what looks to be a V-shaped recovery pattern, establishing critical short-term support. Despite the current positive trends and momentum, Ethereum’s price has declined this year. So far in 2025, ETH has fallen 25%.
Recently, the U.S. Securities and Exchange Commission (SEC) approved the trading of options tied to spot Ethereum exchange-traded funds (ETFs). Options are a popular trading vehicle to leverage and hedge risk and are highly prized by large institutional investors who are looking to control large blocks of shares.
Is ETH a Buy?
Most Wall Street analysts don’t offer price targets on Ethereum, so instead we’ll look at the cryptocurrency’s three-month performance. As one can see in the chart below, the price of ETH has gained 27.61% over the last 12 weeks.
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