• Ethereum confirms golden cross, signaling strong bullish momentum toward $3,000.
• RSI divergence and resistance hint at short-term correction or consolidation.
• Short liquidations fueled the rally, but fresh demand is now needed for continuation.

Ethereum — ETH, has fired off a signal bulls have been waiting for—a confirmed golden cross. This bullish crossover has only added fuel to the rocket that’s already launched ETH from the $1,500s to over $2,600 in just two weeks. Traders are now eyeing the big prize: a clean break above $3,000. But while momentum remains strong, warning signs are starting to creep into the charts like shadows before a storm.

Ethereum Hits Resistance but Maintains Bullish Structure

Ethereum’s recent rally ran into a wall near the $2,900 level. This resistance zone aligns closely with the 200-day moving average and marks a key level where the last major breakdown happened in February. The price now dances under this ceiling, and momentum has started to cool. The RSI recently crossed into overbought territory, flashing caution to traders riding this wave. If Ethereum fails to break above $2,900, a drop toward $2,200 could unfold. This zone aligns with a strong support area and the 100-day moving average sitting near $2,100.

Bulls will want to defend these levels. A confirmed push above $2,900 flips the bias back to bullish, with $4,000 becoming the next beacon on the horizon. On the 4-hour chart, signs of fatigue are growing clearer. After blasting above $2,100, ETH has moved sideways in a tight range around $2,500–$2,600. While this might look like calm waters, a storm could be brewing beneath. A bearish divergence on the RSI shows price making higher highs while momentum drops. That split often signals an incoming pullback.

Liquidations Drove the Rally, But Fuel May Be Running Low

If Ethereum loses the $2,450 level, a slide toward $2,200—or even $2,050—is on the table. However, reclaiming $2,600 with strong volume could flip the script again and charge the move toward $3,000. Ethereum’s recent surge didn’t happen in a vacuum. A massive short squeeze helped drive the rally. As ETH climbed, short sellers got wrecked and forced out near $2,400–$2,600.

Those liquidations poured gasoline on the rally. But now that fuel looks spent. The liquidation chart shows heavy closures last week, a telltale sign of a local top. Without new demand, the price might start to drift or retrace. Bulls need fresh buyers to push higher. Until then, Ethereum could stay stuck in consolidation or face a mild correction.

Even so, the golden cross remains a powerful signal. It reflects strength building beneath the surface. If volume returns and ETH breaks above $2,900, the road to $3,000 looks wide open. Ethereum will gather strength and blast through resistance or take a breather before making another run. Either way, the charts suggest that this story isn’t over yet.

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