Ethereum $ETH is showing strong bullish signals on the 30-minute chart, with a "Cup and Handle" pattern forming — a classic setup that often predicts a potential price surge. Here's what this means and what to watch for:

☕ What is the Cup and Handle Pattern?

This chart pattern is a strong bullish indicator and typically signals that an existing uptrend may continue. It has three main parts:

  1. The Cup:

    A smooth, rounded "U" shape that forms after a price drop. This shows consolidation and recovery, suggesting bearish momentum is fading.


  2. The Handle:

    A smaller, downward-sloping channel that forms after the cup. This is a short-term pullback where bulls gather strength before the next move.


  3. The Breakout:

    When the price breaks above the handle’s resistance line, it confirms the pattern. This is the bullish signal that often leads to a strong upward move.

🎯 Target Levels

Based on the depth of the cup, we can estimate two main price targets:

  • Target 1 (TP1):

    The conservative target, calculated by measuring the distance from the cup's bottom to the right-side peak. This level is around $3,800.

  • Target 2 (TP2):

    A more ambitious target, possibly aligned with higher resistance or a Fibonacci extension. This could be around $3,920 or higher.