- ETH will maintain $1,900 in support and work with rising channels to strengthen potential recovery trends.
- Cups and handle prints appear, suggesting that Ethereum could recover when major resistance levels rise.
- Ethereum’s goals include $3,400 and $4,200, with breakouts that outweigh resistance potentially dictating further benefits.
Ethereum (ETH) forms a possible bottom within the ascending channel, maintaining a major support level of $1,900. The assets show signs of a round bottom pattern, formation linked to bullish momentum. The price action remains within the established channel, but the indicator suggests that it raises potential movement.
Ethereum cup and handle formations appear
According to observations by the Rose Premium Signal of X, Ethereum displays a round bottom pattern, often referred to as the formation of cups and handles. This structure occurs when the price drops slightly before it forms a steady, smaller dip. Historically, this pattern indicates a continuation of a general trend. The setup shows rebounds that Ethereum could potentially maintain its main support level.
sauce: Rose Premium Signal (x)
The $1,900 price level remains a key demand zone. This support is consistent with the lower bound of Ethereum’s upward channel and strengthens its importance. Price movements within structured channels often see responses at these key points. If Ethereum maintains this level, the chances of price recovery increase.
Momentum stabilizes once the RSI is reset and the target is identified
Ethereum’s relative strength index (RSI) has undergone a reset, suggesting that the momentum is stable. A balanced RSI indicates that sales pressure is eased and conditions of accumulation are potentially generated. Ethereum price transfer remains within the rising channel, with key levels acting as points of resistance.
If assets maintain their current structure, price targets emerge based on historical patterns and market positions. Ethereum’s short-term price target is $3,400, as resistance intersects with previously rejected prices. Ethereum’s upward trend will allow it to reach $4,200 within the medium timeline.
The top edge of the ascending channel defines this price level as the point at which historical price reactions occur. In the event of a breakout, Ethereum can extend profits of over $5,400 over the long term. Moving over established channels can show strong momentum, potentially leading to further price growth. However, maintaining support and overcoming resistance levels is important to determine the direction of prices.
