ETHEREUM PRICE IN POSSIBLE DANGER?! ETHEREUM PRICE PREDICTION 2024!

Today we will be covering what is occurring with Ethereum’s price!

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All right what’s up everybody look I wanted to bring you a quick update because I believe ethereum could be in a position to see a 30 to 40% correction to the downside now I know you’re not going to like to hear that but at least hear me out and then make your opinion

After so looking at eth here what we can see is that it price has been doing extremely well right it’s been doing extremely well I mean if we just look at from you know beginning of 2023 to now the DK thing’s up 128% and realistically just in the last four or five months

It’s up another 60% putting in some very strong gains to the upside but what I told you all is that in the last video is that we needed to be extremely careful right here right as this price was inching closer and closer upwards we knew it was running into the strongest

Level of resistance in ethereum’s chart history and that is going to actually be the 618 to 786 macro Fibonacci zone right here what you can see here is that there’s a Fibonacci zone between $2,539 and $3,380 that is again the strongest level of resistance that ethereum’s ever seen

From its strongest bull market High to its strongest bare Market low we’re going to create the strongest Fibonacci retracement levels and I told you all that as we approach this level we need to be extremely careful because the likelihood of a pullback off of this level is extremely high and so with that

In mind I want to talk about what we are seeing now because this price is running into that key level of resistance and why it could entail a 30 to 40% correction to the downside and before we do get into that I did want to let you

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Let me kind of set the scene a little bit if we do go ahead and get rid of this Fibonacci level what you can see is that ethereum while was making all of these moves throughout the bare Market put itself into an ascending structure okay very very clear very obvious three

Touch to bottom side three touch to the top side ascending structure okay now what you need to understand is that ascending structures have a 70 to 85% chance for ethereum to break to the downside and then for that few 15 to 20% that don’t break to the downside only

About 50% of them can even maintain their move to the upside without getting pulled back into that asentic structure and breaking to the downside and so that means that although we did make this move to the upside here which was extremely rare and extremely uncommon and something that doesn’t normally

Happen we still now have less than half or less than 50% chance that this move to the upside even going to maintain or hold without us breaking back to the downside this is the most likely scenario here right and so again yes we are in a bull market yes we are getting

Increasing volume as we did get the breakout yes we do have possible ETF um news for ethereum yes we do have the Bitcoin having yes we have a ton of bullish catalysts approaching but what I never do is a let Catalyst or never I just never let my emotions or things

That are more emotion-based affect what the chart history says because often times chart history is the one thing that you can rely on to not have a bias right and so because of this considering that we still do have an over 50% chance of getting a break back into this

Ascending Channel and then maybe even further losing it to the downside I am still being cautious and when you mix in the fact that we do have that 618 to 786 Fibonacci Zone sitting directly above us which is the strongest level of resistance ethereum will have ever seen in its Tru

You know it’s a perfect formula for a pullback to the downside okay and so because of that now I’m being much more cautious than I was before with ethereum possibly even taking some profits off the table if you’re really really up now there is one thing that stands in

Between us and actually seeing that move of 30 to 40% and that’s this little zone between 2,300 and $2,100 this little range here is going to act like a wall a wall of support in between where we are now and where we would possibly get the break back within

That ascending structure and then continue to the downside side and if ethereum’s price is capable of holding to boort here we could easily continue to the upside especially if you do sprinkle in some good news or a good Catalyst or anything from the fundamental market right but at the end

Of the day this level gets lost we’re in a position in which now we’ve re-entered the structure and the odds of us going at least to the bottom side which would look like a move of you know from here about 26% are extremely high okay and so

Because of that again like I said I am still dollar cost averaging every week I never changed that you can see what I’m dollar cost averaging in I just bought 10 cryptos down in the patreon down below you can see what I buy what I sell

The things that I add to my portfolios all of my portfolios exclusive content weekly live streams a bunch of updates everything like that you can see that down below but again yeah I am still dollar cost averaging every week but in terms of going long on Leverage

Absolutely not in terms of going short on Leverage absolutely not especially until we are able to actually break and lose support to the downside I’m not doing any of that I’m just waiting for clarity waiting for the structure to form and waiting till I have a clear

Idea of what’s going to happen with eth and then I’ll make some moves and so with that said I wanted to just give you War today what you need to be on the lookout for you can call this bearish you can call this fud you can call it

Whatever you want but the chart history doesn’t lie and I’m not using bias to make up what I want to what you know to make it look like what I want it to look like right and so because of that of course I hope you do enjoy these

Unbiased perspectives if you do of course let me know down in the comment section below you can also let me know by liking this video or subscribing to the channel if you are new but with that in mind I will see you all next time peace out