Ethereum Forms 'Golden Cross', With Bulls in Control: Analysis

Key Points

1. Ethereum (ETH) is up nearly 10% in a day and 26% over the past week, trading above $3,300, making it the top performer among the top 20 cryptocurrencies by market cap.

2. ETH has formed a golden cross pattern on the daily timeframe, with its 50-day EMA crossing above the 200-day EMA, a bullish signal for traders.

3. Ethereum's RSI is at 80.3, indicating overbought conditions, but momentum traders continue to drive the price upward.

4. The ADX for ETH is at 29, confirming a strong trending market, with immediate support at $3,000 and resistance at $3,500.

5. SPX6900, a Solana-based meme coin, has surged nearly 20% in 24 hours, with its RSI in the overbought territory and potential for further upward movement.