Ethereum is on a roll, marking its third consecutive day in the green with a 3.12% gain on Monday. Over the past three days, ETH/USD has climbed by about 4%, and both fundamentals and technical indicators suggest the momentum could continue.
Could this be the moment Ethereum takes the lead in the market? The charts are showing bullish signs, but the big question remains—will it hold?
With a potential Golden Cross on the horizon, all eyes are on whether ETH can sustain its breakout or lose steam?
Hoodi Fork Approaches, Boosting Ethereum Prices
Ethereum developers have postponed the mainnet Pectra upgrade until after successful testing on the Hoodi testnet , as decided in the Ethereum All Core Developers Consensus Call #153 on March 20. The Hoodi fork is scheduled for March 26, and the mainnet launch will occur at least 30 days after that.
In the meantime, developers continue testing Pectra on Holesky and Sepholia . The upgrade brings improvements like account abstraction and Layer 2 scalability. Developers also discussed Fusaka and set the deadlines for Ethereum Improvement Proposals as March 24. They also decided to finalise its scope by April 10.
Tweet Source: https://x.com/0xJabr0nie/status/1903870121631723879
Now with the current market price movement, it seems like the upcoming Hoodi fork, set to launch in just two days, is contributing to today's rise in ETH prices.
ETH/USD Technical Outlook: A Bullish Shift in the Making?
Image Source: TradingView
Looking at the H4 price chart for Ethereum, signs are pointing to a possible trend reversal. The price has broken above the trendline and is now trading above key moving averages—both classic signals of a bullish shift.
A key technical factor to watch is the 50 SMA (green line) and 100 SMA (red line). These two moving averages are very close to each other, and the 50 SMA is on the verge of crossing above the 100 SMA. If this happens, we get a Golden Cross—a strong indicator of further upside momentum.
Adding to the bullish case, the MACD indicator is also flashing positive signals. The MACD bars are now above the zero line, and the MACD line has just crossed over the signal line from below—another sign that buyers are gaining control.
Right now, ETH is testing a key resistance level at $2,072. A confirmed candle close above this level could fuel a stronger rally, with the next resistance levels at $2,143 and then $2,222—a potential 7.34% gain from current levels.
On the flip side, if prices fail to hold and drop below the $1,998 support level, we could see further downside pressure. The next key support zones would be at $1,993 and $1,894.
Overall, Ethereum is showing strong signs of a bullish breakout, but confirmation above resistance is mandatory before a stronger uptrend can take shape.
