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The Ethereum price pumped 4% in the last 24 hours to trade at $1,898 as of 1:14 a.m. EST on trading volume that surged 283% to $52.9 billion.
This rise in the ETH price comes after Ethereum’s highly-anticipated Pectra upgrade was successfully implemented.
Ethereum Price Analysis: Golden Cross On The Horizon
The ETH price appears to have recently completed a breakout from a well-defined falling wedge pattern, which is typically a bullish reversal setup.
This wedge, which formed between January and late April 2025, showed lower highs and lower lows converging, signaling diminishing bearish momentum.
The Ethereum price action has now convincingly broken above the upper resistance line of the wedge, indicating a shift in sentiment from bearish to bullish.
This breakout is reinforced by Ethereum crossing above both the 50 and 200 Simple Moving Averages (SMAs) on the 8-hour chart. The recent price of Ethereum at $1,898.92 marks a decisive move above both, signaling a trend reversal, as GeckoTerminal data shows.
Moreover, the golden cross (where the 50 SMA potentially crosses above the 200 SMA) may be on the horizon, which would further validate the bullish trend.
The Relative Strength Index (RSI) is currently at 63.34. This places ETH in bullish territory, though not yet overbought (which would be above 70). This suggests there is still room for upward momentum without immediate risk of a correction due to overextension.
Meanwhile, the MACD (Moving Average Convergence Divergence) indicator also supports the bullish outlook. The MACD line (blue) is above the signal line (orange), and both are positioned above the zero line, indicating bullish momentum is gaining traction.
ETH Price Surge Signals A 44% Move
If the current bullish momentum sustains, the ETH price projects an upside target of approximately $2,760, implying a 44.53% increase from the breakout point.
However, it is important to note that the Ethereum price may encounter resistance near the psychological $2,000 level and again around $2,400, which served as previous support in late 2024.
On the flipside, if the price of ETH encounters a pullback, the $1,573 level could act as a healthy cushion against downward pressure.
In the meantime, investors are flocking to buy Best Wallet (BEST), which popular YouTuber Austin Hilton, with over 347K subscribers, says is the best crypto to ever come out.
Best Ethereum Alternative – Buy And Stake For 123% APY
Best Wallet has now raised over $12 million and it’s not just the ICO success that is attracting attention, it’s the tech behind the project as well.
With Best Wallet, you can store over a thousand coins and tokens, stake assets from different networks, and swap tokens using a built-in DEX that supports cross-chain trading.
Its native token, BEST, powers an ecosystem designed to simplify on-chain activities while minimizing security risks, making it a standout in the competitive crypto wallet space.
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Among the many features of Best Wallet, one is gaining outsized interest from investors. That is its “Upcoming Tokens” section, which helps users discover promising projects still in the early stages.
The project’s success in identifying promising cryptos is already well established. It flagged Pepe Unchained (PEPU) and Catslap (SLAP), meme coins that delivered massive gains for early investors.
Investors can also stake BEST tokens for a huge 123% annual return. Currently, BEST tokens are priced at $0.024995.
Those interested should buy before a price hike in around 35 hours.
Check out BEST on its official website.
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