Ethereum ($ETH) has triggered a key bullish signal with the formation of a Golden Cross, as its 50-day simple moving average (SMA) crossed above the 200-day SMA.
Historically, this technical pattern has indicated significant upward momentum. In 2023, a similar event preceded a 130% rally, sparking speculation that Ethereum could surpass $5,000 in the coming months.
📰 Golden Cross on Ethereum ($ETH) Ignites Bullish Momentum!
🟠 The 50-day SMA crosses above the 200-day SMA—historically a strong bullish signal.
🟠 Last similar event in 2023 led to a 130% rally.
🟠 Could $ETH break above $5K in the coming months?#Ethereum #CryptoTrading #ETH pic.twitter.com/6olXIB3h83— Bitcoinsensus (@Bitcoinsensus) December 12, 2024
While bullish sentiment grows, trading activity among whales also highlights the dynamic nature of the market. In a recent move, a prominent trader known as “ETH Band Brother” sold 12,525.4 ETH, purchased just days ago at $3,863, for 49.46 million USDT. The average selling price of $3,949 secured the trader a profit of $1.08 million.
ETH 波段老哥在过去半小时里将前几天 $3,863 的价格买进的 12,525.4 ETH 全部卖出换成 4946 万 USDT 了。卖出均价 $3,949，盈利 $108 万。
4 天时间里，ETH 波段老哥从抄底买入→被套→解套→获利卖出。老哥等到了他想要的反弹，从被套 $230 万到盈利 $108 万。
ETH… https://t.co/9qll6MeuwL pic.twitter.com/nGggITuYSm
— 余烬 (@EmberCN) December 12, 2024
This trade caps a remarkable four-day journey for the investor, who initially bought at the market bottom, experienced a $2.3 million unrealized loss, and waited patiently for a rebound. Their persistence paid off, turning a potentially significant loss into a solid profit. This marks their 20th “band investment,” boasting an impressive record of 16 wins and only 4 losses.
Ethereum Institutional Interest Surges
Meanwhile, institutional interest in Ethereum continues to grow. The Ethereum spot ETF market recorded $102 million in net inflows on December 11, extending its streak of positive inflows to 13 consecutive days. BlackRock’s ETHA ETF led the surge, posting a single-day net inflow of $74.16 million.
Ethereum spot ETF had a total net inflow of $102 million on December 11, continuing its net inflow for 13 consecutive days. BlackRock ETF ETHA had a single-day net inflow of $74.1591 million. https://t.co/Tvs2oCSxTg pic.twitter.com/C6bnbBPGXT
— Wu Blockchain (@WuBlockchain) December 12, 2024
The convergence of technical indicators, whale trading activity, and institutional inflows suggests a favorable outlook for Ethereum. With the Golden Cross signaling bullish momentum and growing demand from investors, Ethereum appears well-positioned for significant price gains in the near future.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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