Ethereum Flashes a Golden Cross: Is $3,000 Next?

Ethereum has once again lit up the technical charts with a formation traders know all too well: the Golden Cross.

Ethereum, the second-largest cryptocurrency, is making headlines again, this time with a classic technical formation known as the Golden Cross.

According to crypto analyst Merlijn The Trader, this bullish setup, where the 50-day moving average (MA) crosses above the 200-day MA, has interesting implications.

“Last time we saw this, it kicked off a rally that saw ETH soar past the $4,000 mark,” the analyst notes. “Now, it’s back.”

A Golden Cross is one of the most closely watched bullish technical patterns in trading. It occurs when a short-term moving average (typically the 50 MA) rises above a long-term moving average (usually the 200 MA).

This suggests a shift in momentum from bearish to bullish—and historically, it’s been a strong signal for price surges. After a corrective phase and a bearish Death Cross earlier in 2025, the trend appears to be reversing once more. The most recent Golden Cross formed just weeks ago, with Ethereum currently trading around $2,500.

If history is any guide, the road to $3,000 ETH could be in sight. The setup is emerging at a time when the broader crypto market is gaining steam. Institutional interest in Bitcoin is spilling over to Ethereum, while the possibility of spot ETH ETFs and major protocol upgrades are on the horizon. Combine that with favorable on-chain metrics and improving sentiment, and the case for further upside becomes clear.

JPMorgan (NYSE:JPM) has finally allowed its clients to invest in Bitcoin trusts, a move that could open the door for mainstream traders to enter the cryptocurrency market. The bank, which previously discouraged clients from investing in crypto, has made a U-turn in response to growing institutional demand for Bitcoin.

Despite skepticism towards cryptocurrencies in the past, JPMorgan has become increasingly involved in the digital asset space. Earlier this year, the banking giant warned that Bitcoin could collapse if the U.S. administration imposes sanctions on leading cryptocurrency exchanges like Binance and Coinbase (NASDAQ:COIN).

However, with institutions now actively seeking avenues to invest in Bitcoin, JPMorgan has made the decision to allow its clients to trade in the cryptocurrency.

The bank’s move comes after several months of speculation and anticipation. In March, reports surfaced that JPMorgan was planning to introduce a Bitcoin trading product for its clients.

Institutions have been gradually entering the cryptocurrency market over the past few years, driven by factors such as inflation concerns and the search for new asset classes.

The entry of institutions has brought a significant shift in the cryptocurrency landscape, leading to less volatility and a focus on regulatory compliance.

As more institutions join the space, the cryptocurrency market is expected to become more mainstream and accessible to a wider range of investors.