Ethereum is trading near $2,520 after a 4% climb, and technical analysts are highlighting two bullish signals: a daily golden cross and a completed Elliott Wave Double Three correction. The move follows a broader market rebound that also lifted Bitcoin by 3.84%, with both assets recovering from a short dip and pushing back toward key resistance zones.
According to CoinMarketCap analytics, the latest surge has strengthened calls that the bear market has ended and an early bull phase is under way. Bullish analysts argue Bitcoin needs to hold above the $82,000 to $84,000 range, while Ethereum needs to clear roughly $3,000 to confirm the next leg higher.
The Ethereum chart now shows a daily golden cross after a 55.6% drawdown. The last time Ethereum confirmed a similar moving average cross following a 50% crash, the price expanded by more than 97.9%. Analysts say holding above $2,400 opens a roadmap toward $3,000, $4,000, and new all-time highs if historical momentum repeats.
A separate Elliott Wave analysis adds another technical layer. The completed wave structure is described as a Double Three correction, with a support zone between $2,375 and $2,337. Buyers stepped in near that zone, and ETH has since pushed back toward the mid-$2,500s. The immediate resistance sits at $2,500 to $2,550, and a clean break above that band could open $2,700, then $2,800 to $3,000. The base case is for sideways price action between $2,400 and $2,550 while the correction completes. The bear case sees a break below $2,337 invalidating the bullish count and dragging price toward $2,212 to $2,220.
Key levels to watch include the $2,438 Fibonacci support and the 200-day EMA near $2,161. Traders are treating $2,500 as the level that decides whether the bullish or bearish narrative wins.
