Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Ethereum Price Is About To Confirm A Golden Cross On The Daily Time Frame, Here’s What Happened Last Time

Source Newsbtc

Crypto analysts have revealed that the Ethereum price is about to confirm a golden cross on the daily time frame. This provides a bullish outlook for Ethereum, as it enjoyed a parabolic rally the last time this happened.

Ethereum Price To Confirm Golden Cross, What Next?

In an X post, crypto analyst Tony Severino mentioned that the Ethereum price is heading to a golden cross this week. This golden cross occurs when a short-term moving average (MA), like the 50-day MA, crosses a long-term MA, like the 200-day MA. This typically indicates that the crypto in question is set to enjoy a long-term upward trend.

Crypto analyst Charting Guy also confirmed this development for the Ethereum price and provided insights into what happened the last time Ethereum witnessed this golden cross. In an X post, the crypto analyst shared a chart that showed what happened combined with the fractal from that time.

Coincidentally, the last time the Ethereum price confirmed this golden cross on the daily timeframe was between November and December last year. Following the Golden Cross, Ethereum rallied from around $1,800 last year to a local top of around $3,600 in March earlier this year.

If history were to repeat itself, the Ethereum price could again witness such a sustained upward trend into the new year. Charting Guy’s accompanying chart showed that Ethereum could rally to as high as $8,000 sometime between March and May next year. Ethereum is already showing signs of an upward momentum, having rallied these last few days while Bitcoin consolidates.

The Ethereum price has already reclaimed the local top of $3,600 from earlier in the year. Meanwhile, Blockchain Center data shows that it is already altcoin season. This is when Ethereum and other altcoins record significant gains while Bitcoin’s dominance cools off. For context, over 75% of the top 50 crypto have outperformed BTC in the last 90 days.

Breakout And Then Moon

In an X post, crypto analyst Titan of Crypto suggested that an Ethereum price breakout was imminent. He stated that once ETH escapes the 3-year symmetrical triangle, it will rally to new heights. The analyst’s accompanying chart showed that Ethereum could surpass its current all-time high (ATH) at $4,800 and rally as high as $7,000.

Crypto analyst Venture Founder also made a similar $7,000 prediction for the Ethereum price. This came as he highlighted a giant cup and handle triangle that has been forming for Ethereum since 2021. The analyst added that ETH could explode once it confirms the breakout above the $3,800 range.

At the time of writing, the Ethereum price is trading at around $3,670, up in the last 24 hours, according to data from CoinMarketCap.

Ethereum price chart from Tradingview.com

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Fed hike odds near 90% into Wednesday's decision — how to trade the dollar, gold and the S&P 500 A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

Author Suzie

Sep 14, Mon

A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

Bitcoin falls below $75,000 as the CLARITY Act fails in the Senate — what the vote means for crypto The US Senate blocked the Digital Asset Market CLARITY Act in a 49-50 procedural vote, sending Bitcoin briefly below $75,000 — its biggest one-day drop since June. Ethereum fell more than 8%, Coinbase slid 10% and $75 billion of crypto market value evaporated. Here is what the vote was, why it failed, and the levels that matter now.

Author Suzie

Sep 16, Wed

The US Senate blocked the Digital Asset Market CLARITY Act in a 49-50 procedural vote, sending Bitcoin briefly below $75,000 — its biggest one-day drop since June. Ethereum fell more than 8%, Coinbase slid 10% and $75 billion of crypto market value evaporated. Here is what the vote was, why it failed, and the levels that matter now.

Dollar index tops 100 for the first time since July as the Fed's hawkish dot plot sinks in The U.S. dollar index broke back above 100 for the first time since 31 July after the Fed delivered its first rate hike since 2023, with the dot plot showing 16 of 18 officials expect at least one more increase this year. Here are the levels that matter for DXY, the currencies feeling it most, and what to watch next.

Author Irene Q.

Sep 17, Thu

The U.S. dollar index broke back above 100 for the first time since 31 July after the Fed delivered its first rate hike since 2023, with the dot plot showing 16 of 18 officials expect at least one more increase this year. Here are the levels that matter for DXY, the currencies feeling it most, and what to watch next.

Gold rebounds to near $4,350 on weaker US Dollar, falling oil prices Gold price (XAU/USD) rises to near $4,345 during the early Asian session on Friday. The precious metal rebounds from a six-week low amid falling oil prices and a weaker US Dollar (USD). Traders continue to assess the latest Federal Reserve (Fed) rate hike and policy cues.

Author FXStreet

Yesterday 01: 32

Gold price (XAU/USD) rises to near $4,345 during the early Asian session on Friday. The precious metal rebounds from a six-week low amid falling oil prices and a weaker US Dollar (USD). Traders continue to assess the latest Federal Reserve (Fed) rate hike and policy cues.

US to delay new "overcapacity" tariffs on China — what the pause means for trade, inflation and the dollar Washington is expected to hold off announcing new tariffs over Chinese "overcapacity" until after the 24 September summit, according to Bloomberg. The postponed plan would have added 7.5% to Chinese goods, taking second-term US tariffs to around 20%. Here is what is on the table, and what a deal versus no deal would mean for the yuan, Hong Kong equities and the dollar.

Author Mitrade

Yesterday 07: 43

Washington is expected to hold off announcing new tariffs over Chinese "overcapacity" until after the 24 September summit, according to Bloomberg. The postponed plan would have added 7.5% to Chinese goods, taking second-term US tariffs to around 20%. Here is what is on the table, and what a deal versus no deal would mean for the yuan, Hong Kong equities and the dollar.

Popular Symbols