Ethereum Golden Cross Signals Potential Major Rally Ahead

Ethereum’s 3-day chart is displaying a technical configuration that has reliably signaled the start of powerful bull runs in recent market cycles. The setup involves a MACD golden cross aligning with a crossover of the 9-period moving average above the 21-period moving average. According to analyst Lark Davis, this identical combination has triggered three substantial rallies in the past. In September 2024, ETH surged over 61% following the signal. It then gained 51% in April 2025 and delivered a staggering 89% jump in July 2025. Each rally commenced after the MACD turned positive, followed by the short-term moving average crossing above its longer counterpart.

The current formation began on December 18, 2025, and is now confirmed, with MACD momentum turning higher. At press time, Ethereum is trading near $3,140 with a daily volume of $22 billion. While the price is slightly up on the day, it remains 3% lower over the past week, having fluctuated between $2,600 and $3,350 for the last two months. The critical question for traders is whether this historical pattern will repeat itself, potentially ushering in another period of what Davis describes as “face-melting gains.”

With the technical signal in place, market participants are focusing on immediate price thresholds. Analysts note that a decisive rise beyond the $3,200 level could open a path toward the $3,300 to $4,000 range. Conversely, a major short-term support zone exists around $3,000. Analyst CW8900 highlighted that ETH “still has a CME gap around 3k,” a price void from futures trading that could act as a magnet for the asset in the near term. This creates a clear battleground between bullish momentum and gravitational pull toward that gap.

External macroeconomic factors are poised to inject volatility into this technical setup. The imminent release of Consumer Price Index (CPI) data has traders on alert for sharp price movements. Analyst Lennaert Snyder has outlined potential trading strategies for both bullish and bearish scenarios, depending on how the price reacts to the $3,170 and $3,060 levels. This underscores the current market’s sensitivity, where a confirmed technical breakout must contend with immediate macroeconomic headwinds.

Beyond its USD price, Ethereum’s performance relative to Bitcoin is capturing significant analyst attention. A chart from analyst Alex Wacy shows the ETH/BTC ratio breaking out of a multi-year downtrend, drawing parallels to a similar pattern observed between 2015 and 2018. That earlier setup was followed by a massive breakout in Ethereum’s favor. The ratio currently sits at 0.0343, and Wacy’s analysis points to a potential long-term move toward 0.15 if the current breakout holds. He described this move as “the biggest $ETH rotation in 8 years,” a test of “patience, not intelligence,” acknowledging the pattern’s similarity but within a modern market containing more capital and larger institutional players.

This long-term optimism is echoed in fundamental projections from major financial institutions. Analyst Kyledoops shared that Standard Chartered has significantly raised its Ethereum price targets. The bank now projects ETH reaching $30,000 by 2029 and $40,000 by 2030. Kyledoops clarified that this is “Not a trade call. Not cycle timing,” but a view grounded in Ethereum’s foundational and expanding role in on-chain finance over time. This institutional endorsement provides a fundamental backdrop to the bullish technical narratives, suggesting that the current chart patterns may be aligning with a longer-term valuation reassessment of Ethereum’s utility in the digital economy.