Ethereum’s Failed Golden Cross Triggers Fears, Is $3,000 A Pipe Dream?

Key Points

1. Ethereum recently exhibited a golden cross, a technical formation where the 50-day moving average climbs above the 200-day moving average, but it failed to generate significant price movement.

2. The last golden cross in December 2024 resulted in an 18% price surge, but the current formation has not shown similar momentum.

3. Analysts suggest that Ethereum's lack of follow-through indicates weakness, and reaching $3,000 may take longer than expected.

4. At the time of writing, Ethereum is trading at $2,548, down 2.1% in the past 24 hours, with an intraday high of $2,630 that it failed to sustain.

5. For Ethereum to break out of its current zone and reach $3,000, it would need a wave of liquidity and confidence, which is currently lacking.