Cup and Handle formation is building up on 
ETH daily chart. It seems that current price drop is a part of Handle curve. Volume levels confirm the Cup formation declining along with the price, keeping it low on the base of the bowl and subsequently increasing. Only weak point here is the fact that begging of the formation doesn't correspond to price peak, nevertheless this is not mandatory is Cup and Handle technically can be produced at lower levels as well.
Currently handle is dipping into what previously was confirmed support zone.
If support will hold one more time we will see handle completed and potentially successful breakout that could send us as high as 200 euro resistance level, passing by heavy resistance around at 135-145 euro and 155-165 euro. If current support level will fail the we are falling back to test previously unconfirmed support level around 90 euro.
This information is provided for education purposes only.
ETH daily chart. It seems that current price drop is a part of Handle curve. Volume levels confirm the Cup formation declining along with the price, keeping it low on the base of the bowl and subsequently increasing. Only weak point here is the fact that begging of the formation doesn't correspond to price peak, nevertheless this is not mandatory is Cup and Handle technically can be produced at lower levels as well. Currently handle is dipping into what previously was confirmed support zone.
If support will hold one more time we will see handle completed and potentially successful breakout that could send us as high as 200 euro resistance level, passing by heavy resistance around at 135-145 euro and 155-165 euro. If current support level will fail the we are falling back to test previously unconfirmed support level around 90 euro.
This information is provided for education purposes only.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.