Although Ether (ETH) is up more than 3.5 percent this week, it is on track to form a death cross.

According to data from charting platform TradingView, ether's 50-day simple moving average could soon drop below its 200-day moving average. The last death cross in cryptocurrency was seen in January 2022.
A technical analysis term, a death cross means that the short-term trend is underperforming the long-term direction and is often considered a long-term bearish indicator. However, this is not the case with ether.
An exception for death cross ether
Although Ether has seen six death crosses so far, only three of them have produced visible effects.
After death crosses in April 2018, August 2021, and January 2022, ether saw double-digit losses for 12 months. In other words, investors who shorted ether for 12 months during the event made some pretty nice returns.
However, most death cross eras witnessed the opposite developments and prices soared.
In short, while this is an unreliable indicator, the upcoming death cross in ether seems consistent with the drop in the options market and the slowdown in Ethereum's network usage.
Ether is currently trading at $1,705.
#BountyCreator# #HotTopicDiscussion# #ContentStar#