Is Ethereum about to soar? That’s the question traders are asking as ETH flashes two powerful bullish indicators: a textbook bullish flag and the formation of a golden cross on the daily chart. With ETH currently trading near $2,775 and showing strong upward momentum, analysts are now eyeing a potential breakout to the $4,015 level.
The recent price action suggests Ethereum may be gearing up for a major leg higher, supported by both technical momentum and a favorable macro backdrop. Let’s break down the key factors that are fueling this growing optimism.
Golden Cross Confirmed: What It Means
A golden cross occurs when the 50-day moving average crosses above the 200-day moving average, a classic indicator of long-term trend reversal and bullish continuation. This pattern often precedes extended price rallies, as it signals increased market confidence and institutional interest.
In Ethereum’s case, the golden cross has formed for the first time in over six months, coinciding with rising volume and a bounce off previous support near $2,400. This alignment adds weight to the theory that a sustained breakout may be underway.
Bullish Flag in Play: The $4K+ Target
The bullish flag pattern is another compelling sign. After a strong upward move in May that pushed ETH above $2,800, the price entered a period of consolidation, forming a flag-shaped channel. Now, with ETH breaking to the upside of that flag, the measured move target sits near $4,000–$4,100 aligning perfectly with key resistance at $4,015.
If this breakout holds, Ethereum could enter a new price discovery phase, especially as attention shifts from meme coins to large-cap assets with real utility.
Price Analysis: What the Chart Reveals
Looking at the TradingView chart you shared, we can extract a few critical observations:
- Support Structure: ETH has formed a solid base around $2,400–$2,500 after repeated tests in June.
- Volume Dynamics: The recent breakout toward $2,775 is accompanied by increasing buy-side volume, confirming bullish intent.
- Resistance Ahead: Minor resistance lies at $2,850 and $3,000. However, if those levels are cleared, the next major barrier is the previous high near $4,015.
Source: Trading View
The recent candle formations also show strong bullish body closures with low upper wicks, a sign that sellers are losing control. If Ethereum sustains this current momentum for the next 48–72 hours, the rally could accelerate.
On-Chain & Macro Trends: Tailwinds for Ethereum
Beyond technicals, on-chain data shows a rise in ETH staking deposits and a decline in exchange balances, suggesting long-term holder confidence. In parallel, macro liquidity has improved as rate hikes pause, opening the door for risk-on assets like crypto to thrive.
Ethereum’s Dencun upgrade and growing Layer 2 ecosystem also reinforce its dominance in the smart contract space, giving investors fundamental reasons to stay bullish.
Final Thoughts: Is Ethereum About to Soar in July?
So, is Ethereum about to soar? All signs point to a strong possibility. The convergence of bullish technical patterns, the golden cross and breakout from a bullish flag, coupled with rising volume and a supportive macro landscape, paints a very favorable picture.
While nothing is guaranteed in crypto, ETH’s setup is one of the cleanest among top assets right now. Traders will be watching closely as Ethereum approaches the $3,000 psychological mark. If that falls, the path to $4,015 could open quickly.
