#ETH🔥🔥🔥🔥 $ETH #etherreum #ETH🔥🔥🔥🔥
Ethereum recently surged above the critical resistance level of $3,800, confirming a breakout from the Cup and Handle pattern—a strong bullish indicator. This move signals the potential for further upward momentum, with a projected target of $5,400.
However, pullbacks are a natural part of price movements following a breakout. A retest of the $3,800 level serves two key purposes: validating the former resistance as a new support zone and allowing the market to consolidate before initiating the next upward phase.
A strong rebound from this level, particularly accompanied by increasing volume, signals renewed bullish momentum.
Key Support Level at $3,525:
If the price drops below the handle low of $3,525, the pattern would be invalidated, potentially leading to further declines.
Final Thoughts:
The pullback and retest of $3,800 are typical and healthy steps in the breakout process. If this level holds, the bullish target of $5,400 remains achievable. As always, this is not financial advice—conduct your own research (DYOR) and manage your trades with care.