Ethereum Forms Golden Cross on Weekly Chart
Ethereum flashes a bullish Ichimoku Golden Cross on the weekly chart, with RSI breakout pointing to a potential move toward $3,100.
- ETH prints Ichimoku Golden Cross on weekly chart
- RSI is breaking out of long-term downtrend
- $3,100 price target in sight if momentum holds
Bullish Signal: Ethereum Forms Ichimoku Golden Cross
Ethereum (ETH) has just printed a major bullish signal on its weekly chart—an Ichimoku Golden Cross. This pattern occurs when the Tenkan-sen (conversion line) crosses above the Kijun-sen (base line), suggesting a shift in long-term momentum.
The Golden Cross is often seen as a reliable technical indicator of an upcoming uptrend, especially when it occurs on higher timeframes like the weekly chart. It signals that buyers are taking control and that market sentiment is turning bullish.
RSI Breaking Out—Momentum Gaining Strength
Adding more weight to the bullish case, Ethereum’s Relative Strength Index (RSI) is also attempting to break out from a prolonged downtrend. A confirmed RSI breakout typically signals increasing buying pressure and can precede significant price movements.
If the RSI breakout is sustained and the Golden Cross holds, the setup could fuel a rapid move toward the next resistance level—around $3,100.
What’s Next for ETH?
The technical alignment of the Ichimoku Golden Cross and RSI breakout suggests that Ethereum may be gearing up for its next major move. While traders should always be cautious of false signals, the combination of indicators increases the likelihood of a bullish continuation.
Should momentum continue, Ethereum might challenge $3,100 sooner than expected. This setup is being closely watched by both short-term traders and long-term investors.
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