Ethereum Outperforms Bitcoin: Golden Crosses and Price Surge Signal Bullish Momentum

Ethereum Shows Bullish Strength Against Bitcoin

Ethereum (ETH) has outperformed Bitcoin (BTC) and other major cryptocurrencies over the past two days, reversing its lagging performance of the last two years. Recent chart data reveals rare golden crosses on the ETH/BTC pair’s one-hour and four-hour charts, indicating short-term momentum in Ethereum’s favor. A golden cross occurs when the 50-period moving average crosses above the 200-period moving average, often signaling a bullish trend.

Key Breakouts and Price Action

On the daily ETH/BTC chart, Ethereum has broken above the 50-day Simple Moving Average (SMA) at 0.02, a critical resistance level. This breakout suggests a potential trend reversal, especially if ETH maintains its strength above this level. The next major target could be the 200-day SMA, a key indicator for long-term trend changes.

Ethereum’s Recent Surge

Following the successful Pectra upgrade, Ethereum surged nearly 30% to a high of $2,489 on Friday, marking its best performance since 2021. The cryptocurrency broke through the $2,000 barrier on Thursday and reached $2,400 early Friday, its highest level in almost three months. Between Thursday and Friday, ETH climbed by over 37%, significantly outpacing Bitcoin’s 7.7% gain during the same period.

Current Performance

Ethereum is currently trading at $2,419, showing a 3.47% gain in the last 24 hours, surpassing Bitcoin’s modest 0.08% daily increase. This momentum, combined with the Pectra upgrade, highlights Ethereum’s growing strength in the market.