- Ethereum just formed a Golden Cross — last time this preceded an 89% rally in two months.
- Exchange reserves hit yearly lows, while neutral Funding Rates suggest room for a sustained move up.
Ethereum [ETH] has just printed a familiar and potentially powerful signal: the Golden Cross.
This pattern — where the 50-day moving average crosses above the 200-day — has frequently marked the beginning of major price rallies. The last time it appeared, ETH surged by nearly 90%.
Now, with Ethereum bordering with the $3,000 level once more, traders and analysts alike are asking the same question: is another explosive breakout on the horizon?
The golden cross returns!
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.
