Ethereum, the second-largest cryptocurrency by market capitalization for anyone living under a rock, has broken through a critical resistance level, forming a highly bullish technical pattern known as the "golden cross." This development has reignited optimism among traders, as ETH’s price surged past $3,300 for the first time in six months. The cryptocurrency has posted impressive gains, rising nearly 10% in a single day and an astounding 26% over the past week, making it the best-performing asset among the top 20 cryptocurrencies.

The broader crypto market has also shown renewed strength, with the total market capitalization climbing to $3.8 trillion, reflecting growing investor confidence. While Bitcoin remains the dominant force, holding a 62.6% market share, Ethereum has solidified its position as the leading altcoin, accounting for 10.4% of the total crypto market. The recent rally has sparked discussions about a potential "alt season," where alternative cryptocurrencies could see extended bullish momentum.
🚨 BREAKING: $ETH IS BACK AT $3200!!
— #CryptoBusy (#@CryptoBusy)
2:11 PM • Jul 16, 2025
A golden cross is a widely followed bullish signal that occurs when a shorter-term moving average, typically the 50-day Exponential Moving Average (EMA), crosses above a longer-term moving average, such as the 200-day EMA. This pattern suggests that the asset’s momentum is shifting from bearish to bullish, often preceding sustained upward trends. Ethereum’s formation of this pattern has reinforced trader confidence, as historical data indicates that golden crosses have frequently marked the beginning of major rallies.
Beyond the golden cross, other technical indicators further support Ethereum’s bullish outlook. The Relative Strength Index (RSI), a measure of momentum, currently sits at 80.3, well into overbought territory. While an RSI above 70 typically suggests a potential pullback, in strong uptrends, assets can remain overbought for extended periods as buying pressure continues. This indicates that despite short-term risks of a correction, the overall trend remains upward.
We all know $ETH is the dominant play
$SOL might look better on paper with stronger yields and more MEV
But $ETH has the narrative, the trust and the capital behind it
— #Milk Road (#@MilkRoadDaily)
4:01 PM • Jul 13, 2025
The Average Directional Index (ADX), which gauges trend strength, is currently at 29, above the key threshold of 25 that confirms a robust trend. This suggests that Ethereum’s recent price movement is not just a temporary spike but part of a sustained upward trajectory. Additionally, the Squeeze Momentum Indicator, which detects periods of low volatility followed by explosive price movements, shows that Ethereum has already entered a high-volatility phase, reinforcing the likelihood of continued bullish momentum.
Ethereum has long been considered the backbone of decentralized finance (DeFi) and smart contract platforms. Its recent price surge comes amid growing adoption of layer-2 scaling solutions, which have improved transaction speeds and reduced fees. The upcoming Ethereum network upgrades, including further optimizations to its proof-of-stake consensus mechanism, continue to bolster investor confidence.
While discussions of the "flippening", where Ethereum could overtake Bitcoin in market cap, have faded in recent years, ETH’s latest rally demonstrates why it remains the most dominant altcoin. Its ecosystem supports thousands of decentralized applications (dApps), non-fungible tokens (NFTs), and institutional-grade blockchain solutions, ensuring its continued relevance in the crypto space. Despite the overwhelmingly positive indicators, traders should remain cautious. Overbought conditions, as reflected in the RSI, could lead to short-term pullbacks or consolidation. Additionally, macroeconomic shifts, regulatory developments, or unexpected market shocks could impact Ethereum’s trajectory.

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Another factor, always is Bitcoin’s performance. Historically, altcoins tend to rally when Bitcoin stabilizes or enters an accumulation phase. If Bitcoin experiences significant volatility, it could either dampen or amplify Ethereum’s momentum depending on market sentiment.
While short-term corrections are always possible, the overall trend appears firmly in favor of the bulls. Traders and investors should monitor key support levels, particularly around the $2,888 mark (the 50-day EMA), to gauge whether the uptrend remains intact. For now, Ethereum’s resurgence is a promising sign for the broader altcoin market, potentially heralding the long-awaited "alt season" that many have been anticipating.