Ethereum (ETH) is on track to form a so-called death cross despite rising more than 3.5% this week, CoinDesk reported. According to data from TradingView, Ethereum's 50-day simple moving average is about to fall below its 200-day moving average. A death cross shows that the short-term trend is now below the long-term trend and is widely considered a long-term bearish indicator. But past data shows the opposite. Since its inception, Ethereum has seen six death crosses, only three of which lived up to the name, while the rest have trapped traders on the wrong side of the market. In short, the death cross is unreliable as a standalone indicator. However, the upcoming death cross is consistent with bearish expectations in the Ethereum options market and concerns about slowing usage of the Ethereum network. At press time, Ethereum is quoted at $1,710.