Cryptonews Price Analysis

Ethereum’s Bullish Breakout Blocked by Bearish Death Cross – Here’s the Fix

Bearish sentiment in Ethereum’s futures market has intensified following a death cross pattern, complicating hopes of recovery as traders eye the $2,100 resistance zone.

Author

Alejandro Arrieche

Author

Alejandro Arrieche

About Author

Alejandro is a seasoned financial analyst and adept business expert with over seven years of experience in dissecting complex business topics and vital market trends. His insightful writing, which has...

Author Profile

Last updated:

March 31, 2025

Why Trust Cryptonews

Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

1743513134-ethereums-bullish-breakout-blocked-by-bearish-death-cross-heres-the-fix

Ethereum (ETH) has gone up by nearly 3% in the past 24 hours as sellers took a pause yesterday and may be progressively buying back the token now that it has dropped below the $1,900 level again.

The past week was quite negative for the top altcoin as it experienced losses of 9.7% as the crypto sell-off resumed.

A graph shared by CryptoQuant provided insights into speculators’ sentiment.

It appears that Ethereum bears continue to dominate the price action as reflected by the behavior of funding rates – a measure of the financing fees that traders pay for keeping their positions open.

cryptoquant chart shows ethereum funding rates death cross

When the difference between the funding rates paid by traders is positive, it indicates that market sentiment is bullish as the volume of outstanding long positions exceeds that of shorts.

However, if market sentiment depresses, this difference will progressively shrink. CryptoQuant’s analysts measured the simple moving average of financing rates for the past 50 and 200 days and identified a “death cross”.

This means that the short-term average crossed below the long-term average. This reflects a trend reversal and confirms a bearish outlook.

Ethereum Bounces Off Key Support – Can It Recover?

Despite the latest recovery that Ethereum experienced during the second half of March, last week’s drop has now resumed the token’s downtrend.

For ETH to reverse this trend, it has to climb above the $2,100 level now.

One encouraging sign for bulls is that the token is bouncing off a key area of support ranging from $1,750 to $1,800.

If the RSI crosses above the signal, this would confirm a bullish near-term outlook as a double-bottom pattern would be in play.

A first target in that case would be set at $2,100, the nearest resistance for Ethereum, meaning an upside potential of 13%.

Identifying and investing in the best cryptocurrencies can be a daunting task, especially when it comes to the meme coin sector.

Meme Index (MEMEX) is a decentralized platform that helps investors buy a basket of meme coins to have diversified exposure to this category.

Just a few weeks after its launch, this crypto presale has raised $4.5 million as investors have been captivated by its value proposition.

Meme Index (MEMEX) Offers Access to Four Different Indexes

Meme Index (MEMEX) is a decentralized protocol that gives investors a chance to get exposure to meme coins by holding a basket of various cryptocurrencies within this category.

meme index launches decentralized solution to invest in meme coins

This solution currently offers access to four indexes: Titan, Moonshot, Midcap, and Meme Frenzy. Each basket is designed with different risk profiles in mind.

These portfolios are composed of the most well-established tokens like Dogecoin (DOGE) and Shiba Inu (SHIB) in the case of Titan to the most exotic corners of the sector for Meme Frenzy.

$MEMEX is the native asset of this decentralized solution. It is the gateway to the Meme Index ecosystem and its demand is primarily fueled by the protocol’s adoption.

As its popularity rises among meme coin investors, so will the price of $MEMEX. Hence, this token offers significant upside potential to early buyers who take advantage of its discounted presale price.

To buy $MEMEX, simply head to the Meme Index website and connect your wallet (e.g. Best Wallet). You can either swap USDT or ETH for this token or use a bank card to complete the purchase.