Ethereum has demonstrated significant bullish momentum after confirming a golden cross pattern, where its 50-day exponential moving average crossed above the 200-day moving average. This technical formation signals strengthening market confidence, with Ethereum posting a 10% daily gain and 26% weekly increase.
Technical indicators reinforce the positive outlook. The Relative Strength Index (RSI) reading of 80.3 indicates strong buying pressure, while an Average Directional Index (ADX) of 29 confirms a robust trend direction. Analysts project potential price targets between $3,750 and $4,000 if current momentum persists.
The altcoin market capitalization rose 2.77% to $3.8 trillion, with Ethereum’s dominance expanding to 10.4% of the total market. This growth underscores Ethereum’s leadership role in the current market cycle.
Solana-based meme coin SPX6900 surged nearly 20% within 24 hours, mirroring the broader altcoin strength. Technical analysis suggests SPX6900 may extend its gains, reflecting continued investor interest in high-volatility assets.
The cryptocurrency broad resilience, with broad resilience, with Ethereum driving momentum while assets like SPX6900 highlight ongoing opportunities within specialized market segments. This combination of technical strength and expanding altcoin participation points to sustained positive sentiment across the ecosystem.