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

This chart displays a classic *"Cup and Handle"* formation in Ethereum (ETH/USD) on the 30-minute timeframe. After forming a rounded bottom (cup) and consolidating (handle), price breaks out into an ascending channel, indicating bullish momentum. Two clear bullish targets are projected: - *1st Target:* 4,034.97 - *2nd Target:*4,164.52 Support and resistance levels are marked, and the structure suggests potential continuation toward higher highs if volume and momentum sustain. Ideal for short-term swing traders watching breakout patterns. Pattern Observed:* *Cup and Handle Formation* - A bullish reversal pattern that signals a continuation of upward movement. - The *cup* shows a rounded bottom, indicating market recovery from a downtrend. - The *handle* (short consolidation) confirms buying pressure after the breakout. --- *Price Action & Trend:* - After breaking above the resistance (~3,580), price entered a *rising channel*, showing consistent higher highs and higher lows. - The breakout is strong, confirming bullish momentum. - Minor retracement or sideways movement expected before hitting target zones. — *Key Levels:* - *Current Price:*3,910 - *Breakout Point:* ~3,580 (acted as neckline/resistance) - *1st Target:*4,034.97 (short-term resistance) - *2nd Target:* $4,164.52 (next major resistance level) --- *Indicators & Signals:* - *Trend:* Strong uptrend within channel - *Volume (not visible but assumed):* Likely increased on breakout, which strengthens pattern confirmation - *No signs of major reversal yet*, but RSI or volume checks would confirm if it's overbought or sustable