Ethereum ‘huge Cup & Handle pattern’ reaffirms $6.5K ETH price target
The bullish outlook appears as ETH’s price decline stalls near its old cup-and-handle resistance level, now acting as support and thus raising the potential of a strong rebound ahead. Ethereum’s native asset, Ether (ETH), may rebound by nearly 60% in the coming sessions as bulls pin their hopes on a classic bullish continuation pattern.Prices may rise to or above $6,500 from their current levels near $4,100 after completing a cup-and-handle formation, hinted Matthew Hyland, an independent on-chain analyst, in a tweet published Monday. A perfect cup and handle retestHyland’s chart shows....
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The formation of a bullish trading pattern suggests that the ETH/BTC pair could be on the verge of a trend reversal. Ethereum’s native token, Ether (ETH), looks poised to log a major price rally versus its top rival, Bitcoin (BTC), in the days leading toward early 2023.Ether has a 61% chance of breaking out versus BitcoinThe bullish cues emerge primarily from a classic technical setup dubbed a “cup-and-handle” pattern. It forms when the price undergoes a U-shaped recovery (cup) followed by a slight downward shift (handle) — all while maintaining a common resistance level....
XRP price bulls watch out! The popular Head and Shoulder pattern is statistically among the most accurate trend indicators. Ripple blockchain’s native token, XRP, could make a full bearish price swing against Bitcoin (BTC), per a classic technical indicator.Dubbed as Head and Shoulders (H&S), the pattern develops when an asset forms three peaks atop a common baseline. The outside peaks, known as Shoulders, are close in height, while the middle one, called the Head, is the highest.The H&S pattern is completed when the asset breaks below its baselines support, with high volumes, confirming a....
Ether has printed a classic bullish reversal pattern against Bitcoin weeks before the Merge launch date. Ethereum's native token Ether (ETH) has rebounded 40% against Bitcoin (BTC) after bottoming out locally at 0.049 on June 13. Now, the ETH/BTC pair is at two-month highs and can extend its rally in the coming weeks, according to a classic technical pattern.ETH paints cup and handle patternSpecifically, ETH/BTC has been forming a "cup and handle" on its lower-timeframe charts since July 18. A cup and handle setup typically appears when the price falls and then rebounds in what appears to....
In this episode of NewsBTC’s all-new daily technical analysis videos, we are looking at Ethereum ahead of the upcoming Merge using the ETHBTC monthly chart. Specifically, this episode looks at the Ethereum versus Bitcoin trading pair using the Parabolic SAR, Ichimoku Cloud, and much more. Take a look at the video below. VIDEO: Ethereum Versus Bitcoin Analysis (ETHBTC): August 23, 2022 Looking at Ethereum’s monthly chart, after a clear violation of the last uptrend ending in 2017, Ethereum entered a bear market against Bitcoin –– yet was able to build a stable rounded base over the....
The success rate for cup and handle patterns in forex and stock markets, on daily timeframes, are 65% and 68%, respectively, per a Harvard study. Ethereum blockchain's native asset Ether (ETH) faces the prospect of exploding towards $6,500 in the coming sessions.ETH looks like a cup and handle too. Thoughts?— Raoul Pal (@RaoulGMI) September 15, 2021 The bullish analogy takes cues from a textbook technical pattern dubbed "Cup and Handle." In detail, a Cup and Handle structure develops after the price first rallies significantly to the upside and then corrects to carve out a rounding....