Ethereum (ETH) Chart – "Cup and Handle" Pattern
The chart illustrates the technical "Cup and Handle" pattern on a weekly timeframe for the ETH/USD pair.
"Cup and Handle" Pattern
Definition: This is a continuation pattern in an uptrend, suggesting a potential breakout to the upside.
Cup: A rounded decline and recovery in price, forming a shape resembling a cup.
Handle: A short-term consolidation or correction that precedes the breakout.
Key Levels
Support: $2,141.30 (lower boundary of the pattern).
Resistance: $4,092.59 (upper boundary of the pattern).
Potential breakout target: $7,262.69 (measured by the distance from the bottom of the cup to the upper boundary of the pattern).
RSI (Relative Strength Index)
Current RSI: 53.89, indicating a neutral market sentiment.
Implication: Further upside potential exists if RSI surpasses the 60 level, signaling bullish momentum.
2025 Forecast
If ETH breaks out of the "Cup and Handle" pattern, the price could reach $7,200, representing a gain of over 100% from current levels.
This pattern suggests a bullish outlook for Ethereum, with a significant upside potential if the breakout occurs.
The chart illustrates the technical "Cup and Handle" pattern on a weekly timeframe for the ETH/USD pair.
"Cup and Handle" Pattern
Definition: This is a continuation pattern in an uptrend, suggesting a potential breakout to the upside.
Cup: A rounded decline and recovery in price, forming a shape resembling a cup.
Handle: A short-term consolidation or correction that precedes the breakout.
Key Levels
Support: $2,141.30 (lower boundary of the pattern).
Resistance: $4,092.59 (upper boundary of the pattern).
Potential breakout target: $7,262.69 (measured by the distance from the bottom of the cup to the upper boundary of the pattern).
RSI (Relative Strength Index)
Current RSI: 53.89, indicating a neutral market sentiment.
Implication: Further upside potential exists if RSI surpasses the 60 level, signaling bullish momentum.
2025 Forecast
If ETH breaks out of the "Cup and Handle" pattern, the price could reach $7,200, representing a gain of over 100% from current levels.
This pattern suggests a bullish outlook for Ethereum, with a significant upside potential if the breakout occurs.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.