Ethereum Price Prediction: Will ETH Reclaim $2K Post Golden Cross?

Key Insights:

• ETH broke out of a multi-month falling wedge.
• Ethereum’s golden cross could have flipped the switch, suggesting bulls could be back.
• ETH’s active addresses jumped from 306,211 to 336,366, a 9.85% increase in just 2 days.

Ethereum price prediction chart indicated a possible bullish reversal. Two key price action indicators signaled this shift.

Ethereum price broke from its multi-month falling wedge pattern on the 2-day time frame. Historically, this has been a bullish signal.

The price breakout happened around $1,750. ETH price exceeded wedge resistance there, showing early signs of trend reversal.

RSI surpassed 40 in a move that ended its downtrend pattern, confirming an emerging positive market momentum. RSI breaks with falling wedge patterns previously resulted in quick price movements upward.

Last year, when ETH prices saw the same pattern, the value increased almost twofold. Ethereum price should sustain its position above $1,750 to make technical progress toward the $3,500 target after surpassing $2,250.

A price objective for this region emerged from the high-low range that formed the wedge at its widest portion. Looking at the Ethereum price prediction trends, the price could encounter bearish pressure.

That could guide it to the $1,500-$1,550 support range anytime ETH cannot maintain this upward rally below $1,700. The next price movement hinged on whether the breakout could sustain its strength. If it falters, it might become an unsuccessful attempt to shift market direction.

Ethereum Price Prediction After Golden Cross

Further daily timeframe analysis showed bullish potential through forming a golden cross after Tenkan-sen exceeded Kijun-sen at $1,640. A consolidative period preceded this crossover, ultimately leading to an intense upward movement that reached $1,800.

After a price surge, the trading session closed at $1,740. However, it remained below the flat Kumo resistance area, which began near $1,880.

A golden cross signal often led to trend reversals as it showed the price had destabilized. On the other hand, bulls might take control during subsequent cloud-breakout pricing levels.

The lower Ichimoku Cloud band rejection could stop the momentum from continuing. Price action below $1,640 would break the bullish setup, making ETH prone to downward retracement. The token could reach $1,565 or lower price levels.

Ethereum may reclaim the $2,000 zone if the golden cross maintains its strength and price surpasses resistance at $1,880. The cloud’s extent and slope pattern served to show the intensity of the market trend observed by the participants.

The crossover alone fails to ensure upward continuation until the price maintains its position and gathers volume higher than resistance areas.

ETH’s Active Addresses

Meanwhile, the number of active Ethereum addresses jumped from 306,211 to 336,366 in two days, making up a total increase of 9.85%.

The network activity and user engagement increased significantly. The price jumped from $1,585.70 to $1,756.98 while the number of active addresses grew from 306,211 to 336,366.

The elevation of active addresses above the 14-day SMA is 345,913. At the same time, the recorded number of 336,366 signaled potential sustained market trends.

The sudden rise indicated that transactional demand was growing, as users used more DApps to execute token swaps and DeFi operations. The maintenance of rise in exchange volumes alongside gas fees and Layer 2 activity could determine whether this trend shows durability.

A sustained rise in ETH could materialize if metrics support each other and the coin retains its vital position within the altcoin network. ETH would surpass $1,800 if high activity continued alongside volume growth and rising gas fees.

Other metrics are needed to maintain or grow simultaneously with activity levels for a bull run to be sustained. A price decline would occur if activity decreased without corresponding growth in other metrics. Even so, the adjustment indicated that growing momentum was still required amid caution.