ETH/USD is currently forming a textbook Cup and Handle patterEthereum (ETH/USD) is currently forming a textbook Cup and Handle pattern, with the rounded "cup" shaped between late August and early November, and a shallow "handle" consolidating below the key $3,500 neckline resistance. This pattern, a bullish continuation signal, suggests a breakout is imminent within the next 1–2 weeks, provided the resistance is breached with strong volume. The handle depth remains shallow, adhering to the rule that it should not exceed 50% of the cup's height, maintaining a bullish structure. Confirmation occurs upon a breakout above $3,500, signaling the start of the next bullish leg, with the pattern projecting a target of $4,750 (calculated by adding the $1,250 cup height to the neckline). Key support lies at $3,300 and $3,250, where a breach would invalidate the pattern. Traders should monitor closely for volume expansion during the breakout and consider entering on confirmation, with stop-losses below $3,250 and profit-taking at $3,800, $4,000, and the target of $4,750. What do you think ?
