#ETHOnTheRise

Did you see the $ETH monthly chart?

The chart represents a "Cup and Handle" pattern in Ethereum's price (ETH/USDT), a bullish continuation pattern often used in technical analysis. Here's a breakdown:

1. **Cup Formation**: The rounded bottom indicates a period of consolidation where sellers are exhausted, and buyers start regaining control. This pattern suggests the market sentiment is gradually shifting bullish.

2. **Handle Formation**: The smaller pullback after the cup forms the "handle," which often represents a period of minor consolidation before a breakout.

3. **Resistance Level**: The horizontal black line marks the resistance zone, where price previously struggled to break through.

4. **Target Price**: If a breakout above resistance occurs, the target is calculated by measuring the depth of the cup and projecting that distance upward. In this case, the target aligns with approximately $6,675.

5. **Fibonacci Retracement Levels**: The chart includes retracement levels (e.g., 0.618 and 0.786), which act as additional support/resistance zones during the pattern.

The successful completion of this pattern would indicate a bullish continuation, potentially leading Ethereum to new highs. However, as always, external factors and market conditions should also be considered.