Ethereum Breaks Wedge and Forms Golden Cross: Traders Eye $3,500 With RSI Support

By: cryptofrontnews|2025/05/03 08:30:01
0
Share
copy
Ethereum confirms a Golden Cross near $1,700, reinforcing early bullish structure.Breakout from a 5-month wedge pattern signals a macro reversal for Ethereum.RSI momentum aligns with price breakout, targeting resistance zones up to $3,500.Ethereum has recently demonstrated notable technical resilience, marked by two distinct bullish breakout patterns observed on its chart. These developments indicate a strengthening shift in momentum as buyers actively regain control and reclaim key support and resistance zones critical to price continuation.Golden Cross Initiates Uptrend Under Heavy ResistanceEthereum’s 1-day chart via Binance reveals a technical shift as the asset forms a Golden Cross. This crossover event emerges when a short-term average moves above a longer-term one. The signal developed around $1,650–$1,700, which now defines the local support base. Market analyst Merlijn The Trader delivered a technical readout focused on structure, resistance, and trend behavior following this development.Source: Merlijn The TraderAfter observing momentum accelerate through mid-April, he turned attention toward price interaction with the Ichimoku cloud. The grey zone extending from $1,900 to $2,600 now defines a significant resistance cluster. The cloud's density marks this as a critical region where bulls must prove control.Responding to the recent rejection of $1,800, he outlined how short-term volatility shaped candle structure. Ethereum posted a 3.04% drop on the day, with a lower close near $1,740, suggesting market hesitation. Despite the pullback, he identified firm bid support near the crossover point.Looking at slope consistency in the moving averages, he interpreted the ongoing alignment as early trend reinforcement. The yellow and white lines both track upward, reinforcing a shift toward positive bias. This formation occurs beneath key resistance but maintains a strong technical foundation.Wedge Breakout Resets Ethereum's Macro PictureBringing fresh insight into this larger pattern, Merlijn The Trader delivered another detailed perspective focused on wedge resolution and trend reversal. Tracking price from the upper wedge resistance near $1,700, he assessed the breakout confirmation via candle strength. The breakout candle closed outside the structure with follow-through, signaling a reversal of the prior downtrend. Price now pushes away from the wedge base, showing conviction.As RSI reclaimed key ground, he interpreted the momentum shift as aligning with price acceleration. The RSI breakout intersected prior resistance at a downward-sloping trendline and has since moved into the mid-40s. This move confirms the price breakout's legitimacy from a momentum standpoint.Monitoring the breakout zone between $1,500 and $3,500, he defined the next critical reaction range. He charted a projection path toward $3,500 with steps near $2,250, consistent with Ethereum’s historical rally behavior. The broader structure now tilts bullish following this technical reset. With both patterns active, Ethereum trades at a technical inflection point, reclaiming bullish territory after months of compression.The post Ethereum Breaks Wedge and Forms Golden Cross: Traders Eye $3,500 With RSI Support appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.

-- Price

--

You may also like

Should You Buy Bitcoin Now? What the Data Says After a 50% Pullback

Should you buy Bitcoin now? Explore Bitcoin's nearly 50% pullback, ETF outflows, on-chain data, Strategy's BTC sale, and historical trends to assess whether July 2026 is a buying opportunity.

Founder of Baixing.com: I believe half of the statement that large language models devour everything

The internet has been shouting for so many years about devouring everything. Has it really devoured everything now? Is it the internet that devours everything, or is it the large models that devour everything? Both are devouring, and nothing is left?

A "legal" robbery? Attackers emptied the BonkDAO treasury by buying tickets

Handing over the keys to the vault to a public vote where "anyone can spend money to participate," without sufficient oversight mechanisms, even the most legitimate governance ideals may turn into the most convenient tools for attackers.

How has Binance's stock business performed in the 30 days since its launch?

Emerging market buying supported the first wave of demand.

WEEX P2P now supports BDT & LKR—Merchant Recruitment Now Open

To make crypto deposits easier, WEEX has officially launched its P2P trading platform and continues to expand fiat support. We're excited to announce that the Bangladeshi Taka (BDT) and Sri Lankan Rupee (LKR) are now available on WEEX P2P!

Morning News | SK Hynix officially launches the marketing promotion process for its U.S. stock listing; the Central Cyberspace Administration announces the results of the first phase of rectifying AI application chaos, with over 14,000 non-compliant pr...

July 6 Market Important Events Overview

Contents

Popular coins

Latest Crypto News

Read more
iconiconiconiconiconiconicon
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com