{"id":477130,"date":"2022-07-23T20:46:49","date_gmt":"2022-07-23T17:46:49","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ethereum-price-cup-and-handle-pattern-hints-at-potential-breakout-versus-bitcoin\/"},"modified":"2022-07-23T20:46:49","modified_gmt":"2022-07-23T17:46:49","slug":"ethereum-price-cup-and-handle-pattern-hints-at-potential-breakout-versus-bitcoin","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ethereum-price-cup-and-handle-pattern-hints-at-potential-breakout-versus-bitcoin\/","title":{"rendered":"# Ethereum price &#8216;cup and handle&#8217; pattern hints at potential breakout versus Bitcoin"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a27d52d84dee\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a27d52d84dee\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/ethereum-price-cup-and-handle-pattern-hints-at-potential-breakout-versus-bitcoin\/#%E2%80%9D_Ethereum_price_%E2%80%98cup_and_handle_pattern_hints_at_potential_breakout_versus_Bitcoin_%E2%80%9C\" >&#8221; Ethereum price &#8216;cup and handle&#8217; pattern hints at potential breakout versus Bitcoin &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/ethereum-price-cup-and-handle-pattern-hints-at-potential-breakout-versus-bitcoin\/#ETH_paints_cup_and_handle_pattern\" >ETH paints cup and handle pattern<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/ethereum-price-cup-and-handle-pattern-hints-at-potential-breakout-versus-bitcoin\/#The_Merge_factor\" >The Merge factor<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Ethereum_price_%E2%80%98cup_and_handle_pattern_hints_at_potential_breakout_versus_Bitcoin_%E2%80%9C\"><\/span>&#8221; Ethereum price &#8216;cup and handle&#8217; pattern hints at potential breakout versus Bitcoin &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-28d77a7a>Ethereum&#8217;s native token Ether (ETH) has rebounded 40% against Bitcoin (BTC) after bottoming out locally at 0.049 on June 13. Now, the ETH\/BTC pair is at two-month highs and can extend its rally in the coming weeks, according to a classic technical pattern.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"ETH_paints_cup_and_handle_pattern\"><\/span>ETH paints cup and handle pattern<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Specifically, ETH\/BTC has been forming a &#8220;cup and handle&#8221; on its lower-timeframe charts since July 18.\u00a0<\/p>\n<p>A cup and handle setup typically <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears when the price falls and then rebounds in what appears to be a U-shaped recovery, which looks like a &#8220;cup.&#8221; Meanwhile, the recovery leads to a pullback move, wherein the price trends lower inside a descending channel called the &#8220;handle.&#8221;<\/p>\n<p>The pattern resolves after the price rallies to an approximately equal size to the prior decline. The ETH\/BTC chart below illustrates a similar bullish technical setup.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-07\/3ea306c1-222f-4d9a-9d3a-4fee51183ffb.png\"><figcaption style=\"text-align: center;\"><em>ETH\/BTC four-hour price chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Notably, the pair now trades lower inside the handle range but could pursue a recovery toward the neckline resistance near 0.071 BTC. Afterward, a decisive cup and handle breakout above the neckline level could lead ETH\/BTC to 0.072, up 12.75% from today&#8217;s price.<\/p>\n<p>The success rate of the cup and handle pattern in reaching its profit target is 61%, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/thepatternsite.com\/cup.html#:~:text=Cup%20with%20Handle%3A%20Identification%20Guidelines&amp;text=The%20cup%20should%20be%20U%2Dshaped%2C%20not%20V%2Dshaped.&amp;text=The%20cup%20must%20have%20a%20handle%20on%20the%20right.&amp;text=1%20week%20minimum%20with%20no,upper%20half%20of%20the%20cup.&amp;text=Cup%20rims%20should%20be%20near%20the%20same%20price%20level%20but%20be%20flexible.\">according<\/a> to veteran investor Tom Bulkowski.\u00a0<\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_Merge_factor\"><\/span>The Merge factor<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The bullish setup for ETH\/BTC also takes cues from Ethereum&#8217;s network transition from proof-of-work (PoW) to proof-of-stake (PoS) potentially via &#8220;the Merge&#8221; slated for mid September.<\/p>\n<p><strong><em>Related:\u00a0Will Ethereum Merge hopium continue, or is it a bull trap?<\/em><\/strong><\/p>\n<p>Meanwhile, market analyst Micha\u00ebl van de Poppe <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1550828076061401088\">says<\/a> that Ether could see more upside versus Bitcoin due to the Merge hype as momentum builds in the coming weeks.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Basically a few levels on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETH<\/a>.<\/p>\n<p>Facing resistance at 0.0725 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a>.<\/p>\n<p>Facing support at either 0.0645 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> or 0.057 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a>.<\/p>\n<p>Overall, expecting more momentum going towards the merge in September. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/QpmkyTwjyb\">pic.twitter.com\/QpmkyTwjyb<\/a><\/p>\n<p>\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1550828076061401088?ref_src=twsrc%5Etfw\">July 23, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Van de Poppe anticipates ETH\/BTC to test 0.072, the cup-and-handle profit target, as interim resistance while holding either 0.0645 or 0.057 level as support.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-07\/27ddbfb7-4d2e-462a-9367-a37e124324e3.png\"><figcaption style=\"text-align: center;\"><em>ETH\/BTC weekly price chart. Source: TradingView\/Micha\u00ebl van de Poppe<\/em><\/figcaption><\/figure>\n<p>Conversely, the range of risks for Ethereum with the Merge update include potential\u00a0technical issues, delays or even a contentious hard fork. For instance, a bug had split the Ethereum chain during a 2020 network upgrade.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/ethereum-price-cup-and-handle-pattern-hints-at-potential-breakout-versus-bitcoin\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Ethereum price &#8216;cup and handle&#8217; pattern hints at potential breakout versus Bitcoin &#8220; Ethereum&#8217;s native token Ether (ETH) has rebounded 40% against Bitcoin (BTC) after bottoming out locally at 0.049 on June 13. Now, the ETH\/BTC pair is at two-month highs and can extend its rally in the coming weeks, according to a classic&#8230;<\/p>\n","protected":false},"author":1,"featured_media":477131,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvODAxZGUyZGQtYmFhNy00NTJmLTlhMzQtOTVlMDg5MDdlZmFlLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74937,82402,74891,75326,74938,74939,74876,75578,78261,73785],"class_list":["post-477130","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin-price","tag-ether-price","tag-ethereum","tag-ethereum-2-0","tag-ethereum-price","tag-market-analysis","tag-proof-of-stake","tag-proof-of-work","tag-tech-analysis","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/477130","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=477130"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/477130\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/477131"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=477130"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=477130"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=477130"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}