- Ethereum forms a golden cross, signaling a strong bullish trend may begin soon.
- ETH holds support, aims for $3,100 breakout in coming trading sessions.
- ETH/BTC chart shows bullish reversal, could outperform Bitcoin over next year.
Ethereum (ETH), the second-largest cryptocurrency by market cap, has often been a slow mover compared to Bitcoin. Many in the crypto world have been frustrated with its high gas fees and regulatory challenges. But according to analysts, ETH might finally be gearing up for a big move and it could surprise everyone.
Analyst Datadash recently shared that Ethereum is his biggest crypto investment right now. The price is setting up for a strong breakout after months of slow price movement. ETH, which dropped from its all-time high of around $4,800, has managed to hold key price levels and is showing signs of strength.
Technical Analysis Points to an Imminent “Golden Cross”
One important technical signal is the “Golden Cross,” when the 50-day moving average crosses above the 200-day moving average. This usually hints at a bullish trend in the market.
Datadash explained that ETH has already reclaimed important price zones and is currently holding above crucial resistance levels. The analyst expects Ethereum to test the $3,100 zone in the coming weeks.
While many investors predict Ethereum could hit $7,500 to $8,500 during the next bull run, Datadash thinks that might just be the start. In the long run, he wouldn’t be surprised to see ETH shoot up to levels beyond that. At the time of writing, Ethereum is up by more than 7% and is trading at $2,675.
ETH Gains Strength Against Bitcoin in a Multi-Year Pattern
Another key point is Ethereum’s performance against Bitcoin. The ETH/BTC chart is showing a six-year bullish reversal pattern based on harmonic and symmetrical timing models.
If this plays out, Ethereum could outperform Bitcoin over the next 12 to 36 months, though not in a straight line.
Institutional Buying Evident in Strong ETF Inflows
Another positive sign for Ethereum is the recent rise in inflows into Ethereum ETFs. According to data, Ethereum ETFs saw $281.3 million in inflows last week.
ETH ETFs have seen their strongest inflows since 2020. While Bitcoin ETFs remain popular, Ethereum is quietly attracting more institutional investors, which could push its price higher.
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