ETH cup and handle intersection with long S/R line
Long S/R line started with low of $478 on Nov 26th 2020 and carries through to today, acting as the resistance for the breakout of the cup and handle formation that started forming with the high of 4039 on May 13th 2021.
Note
Correction, high of 4380 on May 12th, 2021.Currently the price is ranging below the S/R line and above the 50 day MA. A clear break below the 50 MA would mean further downside, and a clear break above the S/R line and a flip from resistance to support would likely mean new ATHs soon after.
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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.