The Story of ETH Golden Cross
Current price of Ethereum is 3340, down 0.95%.
Although Ethereum has shown a 'golden cross', which seems bullish, we still need to analyze it calmly and not act impulsively. Here are a few points to pay attention to when analyzing the market:
It means that the short-term moving average (like the 50-day moving average) has crossed above the long-term moving average (like the 200-day moving average), which generally indicates a signal to rise.
How to look at RSI?
The Relative Strength Index (RSI) ranges from 0 to 100, with 30 to 70 considered normal. Above 70 might indicate overbought conditions, while below 30 might indicate oversold conditions.
Target price?
Some say ETH could rise from $3355 to over $4750, an increase of 40%. But this is just a guess, and we need to see how the market behaves, the technical patterns, and external factors such as the economy, regulations, and technology.
What to pay attention to?
Do Your Own Research (DYOR): Those technical indicators and analyses need to be verified by yourself; not everything is reliable. Manage risk well: Focusing only on gains without considering the risks of decline could lead to significant losses. Diversify investments for stability. Market volatility is high: The cryptocurrency market can change rapidly; technical analysis is useful, but unexpected situations can skew signals.
Don't let Fear of Missing Out (FOMO) drive you: Take it slow, invest only what you can afford. Learn more: Listen to analysts and influencers, but understand why they say what they do; don’t believe everything blindly.
Want to take action?
Check out ETH's charts: Look at how the price has been moving, paying special attention to the golden cross and RSI. Platforms like TradingView are quite useful. Stay updated with news: Be aware of new developments in Ethereum, network upgrades, DeFi activities, regulatory news, etc. Don’t put all your eggs in one basket: Don’t buy just one type of cryptocurrency; diversify to reduce risk. Find reliable analysts: Follow reputable analysts and cross-check their insights with other trustworthy sources.
In summary, the more you understand and the more cautious you are, the better decisions you can make for yourself; don’t take unnecessary risks.
If you’re always missing the right timing and feeling confused about what to do, and want to keep up with learning, you need to meet one condition: take action decisively; like and leave a message, and I’ll help you make big money!
