Ethereum's $ETH chart (currently around $3,603, -0.9%) is flashing a textbook Cup and Handle formation on the 30-minute timeframe — a favorite among technical traders for spotting upcoming bullish runs.
This pattern often signals that the prior uptrend is gearing up for another strong push higher. Let’s break it down.
---
☕ Understanding the Cup & Handle
A Cup and Handle pattern is a continuation setup, showing that bulls are consolidating before another leg upward.
1. The Cup (Rounded Bottom)
Price forms a smooth “U” shape after a pullback.
This shows selling pressure easing and buyers regaining control.
2. The Handle (Mini Pullback)
A short, downward-sloping channel follows.
Think of it as bulls catching their breath before the breakout.
3. The Breakout
The bullish trigger comes when $ETH decisively breaks above the handle’s resistance.
This confirms the pattern and sets the stage for upside momentum.
---
🎯 Bullish Target Zones
Targets are calculated from the depth of the cup, projected from the breakout point.
T1 (Conservative): Around $3,800 — often aligns with previous resistance.
T2 (Aggressive): Around $3,920+ — possible if bullish momentum extends, potentially aligning with Fibonacci extension levels.
---
📈 Trade Plan (Pattern-Based)
> For educational purposes only — not financial advice.
Entry: Post-breakout above handle resistance.
Stop Loss: Below the handle’s low to manage risk.
Take Profits:
TP1: Depth of the cup projection (~$3,800)
TP2: Extended target (~$3,920+)
---
Item Value
Pattern Cup & Handle
Timeframe 30-minute chart
Trend Bullish (post-breakout)
Targets T1: $3,800 • T2: $3,920+
