Drawing the Cup

As already predicted in the blog from August 8 th - we can see that Ethereum price is still moving upwards finishing the cup (Cup and Handle pattern). The announcement that Ethereum Metropolis will come soon, probably by the end of September, has created additional support. Due to the reason that many investors will take the money, when the price reaches 300 EUR level, short price correction to 280 is possible. On the other hand, we have seen many times this year, that the Ethereum price is also able to cross the level without any price correction. In such case, it can happen that the price goes straight forward to 350 EUR.

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