- Ethereum is showing bullish momentum with a potential breakout from a cup and handle pattern that could drive its price to $4,100.
- Meanwhile, XRP has bounced from key support at $2.20 and may retest the $2.30 resistance if upward momentum holds.
Ethereum Cup and Handle Pattern Signals Explosive Upside
Ethereum (ETH) is consolidating near the $3,000 mark, but technical patterns suggest this might just be the calm before a major rally. A bullish “cup and handle” formation has emerged on the daily chart, typically known for preceding breakout moves. If this setup plays out, it could catapult ETH toward the $4,100 level — a potential 49% gain from the neckline.
This momentum is further fueled by the highly anticipated Pectra upgrade, which promises to enhance Ethereum’s scalability and efficiency. Consolidation near a resistance zone often points to accumulation, giving bulls more reason to stay optimistic.
With ETH nearing its $3,000 price target, many traders are now eyeing a decisive breakout above the neckline. If confirmed, the handle portion of the pattern could act as a launchpad toward the projected $4,100 milestone.
XRP Bounces as Traders Eye a Return to $2.30
Ripple’s XRP has shown signs of recovery after a sharp dip to $2.20. The token had previously broken below a crucial support level at $2.28, triggering short-term bearish sentiment. However, it has since rebounded during the Asian trading session, hinting at a possible reversal.
The $2.28 zone now stands as the key resistance. A strong push above this level could open the door for a retest of the $2.30 resistance. If volume picks up during the American session, this bounce may gain further traction.
Despite a bearish “death cross” on the 4-hour chart — with the 9 and 21-period EMAs crossing below the 200 EMA — bulls could regain control if XRP holds above $2.20. The RSI’s recent drop also suggests that momentum is low, but any positive shift could spark renewed buying interest.
High Stakes, High Potential
Both Ethereum and XRP are at pivotal technical levels. Ethereum bullish pattern backed by a strong network upgrade gives it a compelling upside toward $4,100. Meanwhile, XRP’s bounce from support could reignite momentum if $2.30 is breached.
For crypto traders, these setups present high-reward opportunities — but as always, risk management is key in this volatile market.
