ETH surged 90% last time this signal appeared – Will history repeat?
The post ETH surged 90% last time this signal appeared – Will history repeat? appeared on BitcoinEthereumNews.com. Ethereum has just printed a fresh Golden Cross, as highlighted in a chart shared by @MerlijnTrader on X (formerly Twitter). The 50-day moving average has crossed above the 200-day moving average — a pattern that previously preceded a nearly 90% rally in late 2024. Source: X After a bearish death cross earlier this year triggered a prolonged downtrend, this renewed signal is catching traders’ attention. With ETH now holding above $2,500, market participants are watching closely to see if history is about to repeat. What happened last time? The previous golden cross occurred in early November 2024. Following the signal, Ethereum surged from around $1,800 to a peak near $3,400 by late December — marking a gain of roughly 89% in just under two months. The move wasn’t driven by technicals alone. This rally coincided with mounting anticipation around spot Bitcoin ETF approvals in the U.S., which fueled broad optimism across crypto markets. Increased institutional interest, coupled with rising Ethereum staking deposits, added to the bullish pressure and helped sustain the rally into year-end. Back to bull? Source: Cryptoquant Ethereum exchange reserves have dropped to 18.7 million ETH, the lowest in over a year — a sign of sustained outflows and potential accumulation. Source: Coinglass At the same time, Funding Rates just slightly negative, suggesting that the current rally isn’t being driven by overly aggressive long speculation. This healthy backdrop of declining supply and neutral leverage adds credibility to the golden cross signal and reduces the likelihood of a sharp correction. Source: https://ambcrypto.com/eth-surged-90-last-time-this-signal-appeared-will-history-repeat/
The post ETH surged 90% last time this signal appeared – Will history repeat? appeared on BitcoinEthereumNews.com.
Ethereum has just printed a fresh Golden Cross, as highlighted in a chart shared by @MerlijnTrader on X (formerly Twitter). The 50-day moving average has crossed above the 200-day moving average — a pattern that previously preceded a nearly 90% rally in late 2024. Source: X After a bearish death cross earlier this year triggered a prolonged downtrend, this renewed signal is catching traders’ attention. With ETH now holding above $2,500, market participants are watching closely to see if history is about to repeat. What happened last time? The previous golden cross occurred in early November 2024. Following the signal, Ethereum surged from around $1,800 to a peak near $3,400 by late December — marking a gain of roughly 89% in just under two months. The move wasn’t driven by technicals alone. This rally coincided with mounting anticipation around spot Bitcoin ETF approvals in the U.S., which fueled broad optimism across crypto markets. Increased institutional interest, coupled with rising Ethereum staking deposits, added to the bullish pressure and helped sustain the rally into year-end. Back to bull? Source: Cryptoquant Ethereum exchange reserves have dropped to 18.7 million ETH, the lowest in over a year — a sign of sustained outflows and potential accumulation. Source: Coinglass At the same time, Funding Rates just slightly negative, suggesting that the current rally isn’t being driven by overly aggressive long speculation. This healthy backdrop of declining supply and neutral leverage adds credibility to the golden cross signal and reduces the likelihood of a sharp correction. Source: https://ambcrypto.com/eth-surged-90-last-time-this-signal-appeared-will-history-repeat/
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