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Ethereum 'huge Cup & Handle pattern' reaffirms $6.5K ETH price target
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Ethereum's native asset Ether (ETH) may rebound by nearly 60% in the coming sessions as the bulls pin hopes on a classic bullish continuation pattern.
Prices may rise to or above $6,500 from their current levels near $4,100 after completing a "cup and handle" formation, hinted Matthew Hyland, an independent on-chain analyst, in a tweet published Monday.
Hyland's chart shows Ether returning to the old point of resistance of its previous Cup and Handle pattern (the yellow horizontal line in the chart below), in a corrective move that started after the cryptocurrency reached its record high of $4,867 on Nov. 10 (data from Coinbase).
Ether underwent a soft rebound after testing the Cup and Handle resistance as its interim support, raising
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