Crypto analysts revealed that Ethereum price will confirm soon golden cross in the daily time slot. This provides a bullish outlook for Ethereum as it enjoyed a parabolic rally last time.

Ethereum price will confirm the Gold Cross, what next?

In the post: X, cryptocurrency analyst Tony Severino mentioned that Ethereum price is heading to a golden cross this week. This golden cross occurs when a short-term moving average (MA), such as the 50-day MA, crosses a longer-term MA, such as the 200-day MA. This usually means that a particular cryptocurrency will enjoy a long-term uptrend.

Cryptocurrency analyst Charting Guy also confirmed this change in Ethereum price and provided insight into what happened the last time Ethereum witnessed this golden cross. In post X, a cryptocurrency analyst shared a chart showing what happened in conjunction with the fractal from that time.

Coincidentally, the last time Ethereum price confirmed this golden cross was on the daily time frame between November and December last year. Following the Golden Cross, Ethereum he gathered himself from about $1,800 last year to a local peak of about $3,600 in March this year.

If history were to repeat itself, Ethereum’s price could see a sustained uptrend again in the fresh year. Guy’s Chart the accompanying chart showed Ethereum could rise as high as $8,000 between March and May next year. Ethereum is already showing signs of upward momentum after gaining value over the past few days while Bitcoin consolidated.

Ethereum price has already recovered its local high of $3,600 from the beginning of the year. Meanwhile, Blockchain Center Data shows that altcoin season is here. This is when Ethereum and other altcoins see significant gains Bitcoin domination is cooling down. For context, over 75% of the top 50 cryptocurrencies have outperformed BTC over the last 90 days.

Breakout and then the moon

In the post: X, cryptocurrency analyst Cryptocurrency titan suggested that an Ethereum price breakout is imminent. He stated that once ETH escapes from the 3-year symmetrical triangle, it will soar to fresh heights. The attached analyst chart showed that Ethereum could surpass its current all-time high (ATH) of $4,800 and rise as high as $7,000.

The Crypto Venture Founder analyst also made a similar $7,000 prediction for Ethereum price. This happened when he highlighted the giant cup and handle a triangle that is taking shape for Ethereum from 2021. The analyst added that ETH could explode once it confirms a break above the $3,800 range.

At the time of writing, Ethereum is trading at around $3,670, having risen over the past 24 hours, according to data from CoinMarketCap.

Featured image created with Dall.E, chart from Tradingview.com