Hi and welcome to this Analysis on ETH on the 1 H chart. Following its massive rally all the way from 1700$ to 3300$, ETH has entered a range-bound period at 3000-3350 $ area. With 3350 $ being a tough resistance, ETH has failed to break it and has formed several peaks under that value. Thus, forming sth like an inverted cup-handle on this 1 H chart that can be a good shorting position for scalp traders. upon breaking down the upper support the first target will be the strong support at 2950-3000$.
please feel free to share your ideas and comments Thanks for reading my analysis on ETH 1H
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