The leading altcoin is flashing early signs of a bullish reversal—the formation of a golden cross could be the pivot point for Ethereum price forecasts to flip bullish.
Since bottoming out in early April around $1,400, ETH has mounted a notable 32% recovery, giving it new standing in the “best crypto to buy” conversation.
Still, economic uncertainty looms large. As the US-China trade war knocks US GDP into its first negative growth since Q1 2022, the momentum has stalled.
Golden Cross: Why This One is So Significant
Perhaps most notably, the golden cross on the 3-day chart marks the first bullish flip for the metric since the post-election rally.
When the MACD crosses above the signal line—especially on higher time frames—it often signals the early stages of a major trend reversal.
Recent whale activity adds intrigue. Large holders have been accumulating Ethereum, with on-chain data showing significant purchases in the $1,600–$1,700 range.
This accumulation often precedes price pumps, as whales can influence market sentiment.
Ethereum Price Analysis: Key Level to Watch
While the past few months have been turbulent, they have yet to invalidate a bullish symmetrical triangle pattern forming since 2021.
ETH / USDT 3-day chart, 4-year symmetrical triangle pattern. Source: TradingVIew / Binance.Still, the validity of this pattern hangs in the balance—if the month’s reversal holds, the dip below lower support could be brushed off as a false breakdown.
But if momentum fades, Ethereum risks a return to the support zone that has underpinned its 4-month decline at $1400.
A breakdown there would open the door to a deeper 40% slide toward $1,050—fully invalidating the pattern.
That said, signs of strength are emerging. The RSI has begun trending higher after bouncing from oversold territory near 30—a common marker of local bottoms as sellers exhaust.
Bullish momentum is also leaking into higher timeframes, with the weekly MACD edging towards its own golden cross.
Should Ethereum reclaim resistance at $1,960 and break back into the triangle pattern, the next major target sits at $2,520—a 40% move from current levels.
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