According to technical analysis initially noted on the social media platform X, Ethereum recently exhibited a golden cross. However, according to the analyst, this was a failed golden cross, as Ethereum’s price barely moved when it happened on the daily timeframe.
Ethereum’s price performance following the crossover has made the pattern feel more like a false signal than what the golden crossover is mostly known as. The chart below shows that while the moving averages did cross, the price action around that moment was uneventful and even slightly bearish. This is a huge difference from what happened in December 2024, when the same pattern was followed by a quick upside push. Back then, Ethereum’s price surged by about 18% to touch $4,000 very briefly.
