Traders and investors are closely watching %Ethereum (CRYPTO: $ETH) after the second largest %Cryptocurrency by market capitalization formed a bullish “Golden Cross” technical pattern.
Ethereum is currently trading at $2,500 U.S. but appears poised for a breakout and run back near $3,000 U.S. 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.
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% to trade at $2,505 U.S. per digital token.
