Prices for Ether (ETH), the native cryptocurrency of the Ethereum network, are on the rise. At least this shows Recent integration of technical analytical patterns known as “Cruz Dorada” or “Golden Crossing”this is interpreted as a confirmation of trends.
Golden cross occurs If the simple mobile average for the 50th term (in this case, 50 days) is above the mobile average for the 200th term.
If ETH continues this trend according to the theory of support and resistance, It was easy to find an area that was close to $2,800you need to find resistance.
The following graphics provided by TrainingView allow you to observe the formation of golden crosses and historical resistance of $2,800 (yellow horizon).
Careful readers were able to observe in the previous image where ETH formed a golden cross in December 2024. It served as an indicator of upward trends for that opportunity, but a few days later ETH began fall.
For this reason, it is important to be aware of this Golden Cross is not an indefinite indicator. For ETH to maintain price growth, it is important that demand continues to exceed offers.
And there’s a reason to think that would happen. The main thing is Institutional and corporate demand for ETH. As can be seen in the following graph, there are companies and organizations that accumulate ETH as assets in the Ministry of Finance’s Value Reserve Area.
As Cryptootics reported a few hours ago, Sharplink (a public contributor owned by more ETH) considers ETH to be the best value reserve thanks to the fact that unlike Bitcoin (BTC), it can be stopped on coins stored.
If this trend of accumulation increases in the institutional accumulation, ETH can lead to a significant recovery in its prices.