Ethereum (ETH) Price Prediction: Golden Cross Signals Upcoming Bullish Breakout

Ethereum (ETH) has surged by 4.5% in the past 24 hours and currently sits at $2650. The top altcoin has emerged as the best-performing cryptocurrency

Ethereum (ETH) price rose by 4.5% in the past 24 hours and is currently trading at $2,650 at the time of writing. The top altcoin has emerged as the best-performing cryptocurrency of the top 5 in the past 30 days with gains of 62.1%.

Interestingly, although Bitcoin (BTC) price has surged to all-time highs, ETH has not followed its pace and it is still nearly 45.8% away from reaching its own record of $4,892.

This does not mean that ETH will not get there, but it may take longer than previously as the token dropped much more sharply than BTC during the latest downtrend.

On a year-to-date basis, BTC has already delivered gains of 19.3% while ETH is down 20.4%. This is a huge performance gap that needs time and also emphasizes increasing dominance from the top crypto in a relatively uncertain macro backdrop.

However, Ethereum’s prospects have improved dramatically in the past couple of weeks after the successful implementation of the Pectra upgrade. This, alongside a strong buy signal in the daily chart, supports a bullish Ethereum price prediction for the next 3 to 6 months.

Ethereum Price Prediction: ‘Golden Cross’ in Daily Chart Says Buy

Ethereum faced strong selling pressure once it hit the $2,750 level but has found support at two key technical indicators – the 9-day and 200-day exponential moving averages (EMAs).

These two lines have now crossed, with the short-term average now standing above its long-term peer.

This technical phenomenon is known as a ‘golden cross’ and typically precedes a significant rally.

The last time it happened, it resulted in 25% gains for ETH in just one month. Before that, the spike was even more pronounced as ETH rallied by 115% between October 2023 and March 2024.

The daily chart is typically the most relevant time frame watched by traders. Hence, when these crossovers occur, investors should be able to capitalize.

Using a conservative projection of a 25% gain for our Ethereum price prediction, this gives us a short-term target of $3,125 for the next 30 to 45 days.

However, ETH could play catch up with BTC in the next couple of weeks, especially if the performance gap gets bigger as market participants may interpret this as a sign that the top altcoin is undervalued relative to its importance in the crypto ecosystem.

Meanwhile, as BTC seems poised to make new records, the best crypto presales linked to the top crypto like BTC Bull Token (BTCBULL) should outperform the rest of the market.

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BTC Bull Token (BTCBULL) rewards investors as Bitcoin reaches new all-time highs with airdrops and token burns.

Starting at a baseline price of $100,000, BTCBULL distributes new rewards every time BTC adds an extra $25K to its quote.

The first milestone is set at $125,000, at which point a portion of BTCBULL will be burned to foster scarcity and raise the price.

Next up, at $150,000, token holders will receive a direct airdrop of BTC tokens on their wallets.

BTCBULL is a way to generate passive income for those who believe that the top crypto will reach $200,000 this year.

To buy $BTCBULL, head to the BTC Bull Token website and connect your wallet (e.g. Best Wallet). You can either swap USDT or ETH or use a bank card to invest.