Ethereum News Today: Altcoin Rally Gains Steam as Golden Cross Sparks Bullish Optimism

Altcoin prices are showing renewed momentum following the formation of a Golden Cross on the altcoin index, a technical pattern historically associated with the start of bull markets. The Golden Cross occurs when the 50-day moving average crosses above the 200-day moving average, and its emergence has sparked optimism among traders and investors who had previously focused on Bitcoin and Ethereum [1]. This technical development suggests that the altcoin sector could be entering a new phase of sustained growth.

In recent weeks, major altcoins such as Solana (SOL), Chainlink (LINK), and Avalanche (AVAX) have demonstrated signs of renewed strength, supported by rising trading volumes and improving on-chain metrics. Wallet activity is increasing, and large holders—often referred to as whales—have resumed accumulation in key projects, reinforcing the bullish outlook [1]. The broader market environment, combined with potential news on spot ETFs, appears to be creating favorable conditions for an extended altcoin rally.

The Ethereum (ETH) surge of approximately 20% in early July, breaking above a key $190–$200 price range, has also influenced altcoin sentiment. This breakout coincided with a Golden Cross in certain Ethereum-based meme coins, indicating the possibility of a wider bullish trend across the altcoin space [1]. Similarly, Dogecoin (DOGE) has shown signs of recovery, aligning with the broader altcoin rebound. However, not all altcoins are performing in line with these positive signals.

XRP has experienced a 2% decline within a 24-hour period, dipping below a critical support level and raising concerns about potential further corrections. This divergence in performance highlights the uneven nature of the current market environment [2]. Pepe, a meme token, has also formed a Golden Cross, but follow-through momentum remains weak, suggesting cautious optimism rather than aggressive buying [4].

In the broader altcoin market, several projects are being watched closely for potential growth, including SUI, XLM, POL, CRO, and SKY. These altcoins are seen as well-positioned to outperform in a more regulated environment, given the emergence of clearer regulatory frameworks [3]. Additionally, Cardano (ADA) has shown signs of renewed interest, with large holders engaging in significant transactions and open interest reaching $1.26 billion [9].

Despite the positive technical indicators, altcoin performance remains mixed. An altcoin portfolio managed by prominent analyst @CryptoMichNL has underperformed expectations, prompting a reassessment of altcoin exposure [8]. This underperformance underscores the need for strategic diversification and close monitoring of price action, especially as traders adjust their risk management strategies amid shifting market dynamics.

The Golden Cross, while a promising signal, is not a standalone indicator. Traders are advised to consider on-chain metrics, volume trends, and broader market sentiment when evaluating altcoin opportunities. If Bitcoin continues to stabilize and show further strength, the conditions for a broader altcoin rally could improve. However, sustained price momentum and volume expansion will be key to confirming the bullish narrative.

Source:

[1] https://www.ainvest.com/news/ethereum-news-today-ethereum-surges-20-altcoins-target-breakouts-gains-2508/

[2] https://cryptorank.io/news/feed/76577-xrp-price-prediction-dips-below-key-support-is-a-deeper-correction-incoming-for-the-altcoin

[3] https://pintu.co.id/en/news/187442-these-5-altcoins-are-ready-to-explode-after-the-genius-act-is-passed-potential-to-skyrocket

[4] https://coindoo.com/hederas-price-target-set-at-0-42-pepe-dips-but-blockchainfx-is-the-high-roi-crypto-that-pays/

[9] https://www.barchart.com/story/news/33848153/cardano-holders-question-if-ada-will-trade-above-1-again-while-this-viral-0-09-crypto-is-eyeing-5

[8] https://blockchain.news/flashnews/altcoin-portfolio-performance-insights-from-cryptomichnl-on-bitcoin-and-crypto-market-trends-2025