The ETH/USDT chart displays a classic Cup and Handle formation, a chart pattern indicative of a bullish continuation.
Cup: The initial curved phase illustrates a correction followed by a recovery, suggesting consolidation.
Handle: The current consolidation in the form of a descending channel could serve as an accumulation zone before a potential breakout.
Technical Targets:
Key level to break: $4,150. A close above this resistance could confirm the pattern.
Theoretical target: Upon confirmation of the breakout, the projected target is around $7100 & $9,842, based on the height of the "Cup."
Monitor volumes and price action around the red resistance zones to validate this scenario.
Cup: The initial curved phase illustrates a correction followed by a recovery, suggesting consolidation.
Handle: The current consolidation in the form of a descending channel could serve as an accumulation zone before a potential breakout.
Technical Targets:
Key level to break: $4,150. A close above this resistance could confirm the pattern.
Theoretical target: Upon confirmation of the breakout, the projected target is around $7100 & $9,842, based on the height of the "Cup."
Monitor volumes and price action around the red resistance zones to validate this scenario.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.