Technical analysis by ALGO_Trading_point about Symbol ETH: Buy recommendation (8/6/2025)

ETH/USD (Ethereum vs US Dollar) Timeframe: 30-minute chart Current Price: ~$3,628.30 Date on chart: 6th August 2025 --- ☕ Identifying the Strategy: Cup and Handle The pattern highlighted in your chart is a "Cup and Handle" formation. ✅ Characteristics in your chart: 1. Cup Shape (Rounded Bottom): Seen from the drop around August 1 to the recovery by August 4–5. This curved bottom forms the "cup". 2. Handle: A small pullback or downward channel formed after the cup. It's shown by the descending channel (parallel black lines) — this is the "handle". 3. Breakout Point: Once the price breaks out of the handle pattern, it's considered a bullish signal. Your chart shows an up arrow after the breakout of the handle. --- 🎯 Target Points (As marked on your chart) 📌 First Target Point: Price: $3,800.00 (marked in yellow) This is usually the distance from the bottom of the cup to the breakout point, projected upward. 📌 Second Target Point: Price: $3,920.63 (marked in gray) This is an extended target, often used by more aggressive traders. It might align with previous resistance levels. --- 🧠 Summary ItemValue PatternCup and Handle Timeframe30-minute chart Current Price~$3,628.30 First Target$3,800.00 Second Target$3,920.63 Trend DirectionBullish (after breakout) --- 📈 Trade Idea (Based on Pattern): Entry: Near breakout of the handle (already broken) Stop Loss: Below handle low (~$3,610–$3,580 zone) Targets: TP1: $3,800 TP2: $3,920+ALL target done