ETH eyes $4,000 with strong support at $3,000 and imminent “golden cross” pattern.

Ethereum (ETH) prices surged today, with the cryptocurrency recovering above key technical levels and establishing a strong support zone near $3,000. Analysts suggest that a bullish “golden cross” formation could push ETH prices toward $4,000.

ETH Gains Momentum Above $3,000

Ethereum’s native token, Ether, has gained 9.65% in the past 24 hours, trading at $3,350. This recovery has placed ETH back above the 50-day Exponential Moving Average (EMA) on the 4-hour chart. The cryptocurrency is now poised to retest its immediate resistance at $3,449, the previous local high.

This rebound coincides with a confirmed breakout from a triple-bottom pattern, strengthening the bullish outlook. The breakout aligns with a daily order block near $3,000, which has created a robust demand zone for Ethereum.

Whale Activity and Strong Demand at $3,000

Data from IntoTheBlock reveals that a significant number of Ether addresses have established a demand zone between $3,046 and $3,142, with over 4.45 million addresses moving 5.4 million ETH at an average price of $3,099.

Adding to the bullish sentiment, fresh whale activity has been observed. A notable Ethereum whale recently added 9,000 ETH to its holdings, bringing its total to 27,000 ETH worth $88.9 million. This accumulation underscores strong confidence in Ethereum’s future price movements.

Golden Cross Signals Further Gains

Ethereum’s daily chart is approaching a “golden cross,” a bullish technical pattern that occurs when the 50-day moving average crosses above the 200-day moving average. Historically, this pattern has preceded significant rallies, including gains of over 100% in 2020 and 2023.

Rekt Capital, an independent crypto analyst, noted that Ether is also breaking out of a short-term bull flag on the weekly chart. A confirmed breakout could propel ETH to its next major resistance at $3,700 and beyond.

ETH Poised for Further Growth

With strong technical indicators, increasing demand at $3,000, and whale activity, Ethereum is well-positioned for a continued upward trajectory, potentially reaching $4,000 in the near term.