Ethereum is approaching a major technical event known as a golden cross after breaking out of the $1,900 region and reaching approximately $2,500. The cryptocurrency crossed short- and medium-term moving averages, reclaiming the long-term trend line around $2,150, with the price currently trading about 16% above these averages. The RSI indicator stands in overbought territory at approximately 76, and ETH has failed to decisively break above the $2,500-$2,550 resistance level. A move above $2,550 could allow Ethereum to reach $2,600 and possibly the $2,700 region, while the first support level sits at $2,400, with a more significant correction potentially pulling ETH back toward the $2,200-$2,150 range.
Source: Read the original article
