Ethereum (ETH/USDT) is stealing the spotlight with its monthly chart showcasing a textbook Cup and Handle pattern, a classic bullish structure that hints at massive upside potential. With technical indicators aligning, Ethereum could be on the path to its next major milestone of $18,825.92. Here's a closer look:
Why Ethereum’s Momentum is Unstoppable:
1. Technical Indicators Aligning:
The RSI sits comfortably above 59, signaling sustained bullish momentum.
The Stochastic Oscillator has formed a bullish crossover, further confirming upward momentum.
2. Supportive Moving Averages:
Ethereum's moving averages provide a robust foundation, indicating strong buying interest and supporting continued upward movement.
3. TOTAL2 Chart Boosting Altcoin Market Confidence:
The TOTAL2 chart (excluding Bitcoin) highlights a bullish breakout, backed by RSI strength nearing overbought zones. This supports Ethereum’s dominance in the broader altcoin market, reinforcing its upward trajectory.
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Trade Setup for ETH/USDT:
Entry Zone: Around $3,670.78
1st Target (TP1): $5,206.11
2nd Target (TP2): $18,592.44
Market Sentiment: Strongly bullish, supported by momentum indicators and a breakout structure.
Important: This trade is exclusively for spot trading. For futures signals, join my Binance Live session.
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What Makes Ethereum’s Cup & Handle Significant?
The Cup and Handle pattern is a renowned indicator of bullish potential, signaling a consolidation phase followed by a breakout. Ethereum’s breakout from this structure aligns with its growing dominance in the altcoin space, making it a prime candidate for significant long-term growth.
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💡 Pro Tip: Keep an eye on volume to confirm the breakout and adjust your stop-loss levels to lock in profits as Ethereum moves higher.
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