Ethereum ETH Price News Today – Technical Analysis Update, Price Now! Elliott Wave Price Prediction!

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Ethereum ETH Price News Today – Technical Analysis Update and Price Now! In this video I talk about a technical analysis of the Ethereum Price and I talk about some important price moves that are happening right now! Ethereum Price Prediction! I also talk about Elliott Waves!

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Hyo and welcome to another update video about ethereum the ethereum chart is pretty much still in the same price range as in my video earlier today um it is possible that this wave 1 that started on the what was the 23rd of January the wave 1 that started on that

Day could obviously be complete we talked about that over the last couple of days already the price actually reached um an ideal Target area for Circle wave five of one here which was the 38.2 Fibonacci extension at $3,028 the extension level above that is at 3,233 so would be another basically

Another level to watch plus the upper boundary line of the trend channel should we extend a little bit higher so at the moment I’m just waiting here for a little bit of clarity because the market and that’s fact has completed a potential five wve move to the upside so it increases automatically the

Likelihood that a lasting low was established here on the 23rd of January we can now work with that structure for the next support Zone because the market has produced that important F five wave move to the upside that means this wave count is technically full now just

Because a wave count is full it obviously doesn’t mean that the wave count um well has to be like that further extensions are always possible and it just means that the requirements for this move to the upside are fulfilled to call it a five-wave pattern a five-wave pattern when that’s

Completed typically gets corrected so Elliot wave tells us teaches us that if five waves completed a cycle is technically complete so while that can I mean Trend can always extend we then need to be on the side of caution doesn’t mean a pullback has started it doesn’t mean a crash is

Coming and it doesn’t mean the next cycle the corrective cycle which is a wave two definitely has started we need further evidence for that all right we haven’t got that evidence at this stage so I’m going to zoom in a minute take a look at that further extensions are

Still possible and if they happen then yeah I think 3,233 would be the next major level to watch if a wave two happens which would be the corrective pullback that is correcting this five-wave Advance which might have topped on Wednesday or today um if that wave two happens we are

Looking at support between 2,667 and 2328 and that would be my preferred scenario that if we get into this region that we also find support in this region obviously it’s always possible that we break below the support region then again a different scenario would be playing out I still need to fully decide

What my alternative scenario would be so I’ll probably um wrap that up in the next one or two days and let you know in a video but for now the short-term bearish case is obviously here this wave to correction which however indicates that as soon as wave two is complete a

Third wave possibly aggressive rally is going to happen in to the region around $3,800 $4,000 yesterday ether obviously reached $3,000 um which is great milestone now as you would imagine the $3,000 level like the $11,000 level like the $2,000 level that is you know a psychological

Barrier to a degree and yeah again you know it is not easy to break above that barrier now because we also have five waves complete I would actually prefer a pullback before launch but it doesn’t need that pullback yet we need some kind of signal to really suggest this

Pullback started You could argue that maybe a small pullback has started but as I said it needs a decisive break below the weekend low no it’s not the weekend low it’s the Tuesday low here at 2,877 to really confirm that this move down is starting or at least indicate

Until then further extensions easily possible it’s it’s possible that this is a away for yeah that it for example simply formed a larger flat structure in wave four and one more high in wave five could happen so all of that is possible so next piece of evidence or next

Indication that a top is in place would be that decisive break you could say the break below the green line and then we will have probably some support around um 2,720 which is this previous swing low from the 17th of February I mentioned in the last video that there are two

Topping structures here one is here a left shoulder head right shoulder let’s see if we break through based on that structure and then we also have a potential left shoulder here head and right shoulder if that wave two is playing out I normally don’t call out

These patterns but when I see them and when they are in line with an Elliot wave count um I I tend to mention them but um I think it’s just sort of I think the right mindset is important at the moment the trend is still up we haven’t

Even taken out a previous swing low so the trend is still up it really takes a break below that green line a decisive break to suggest that the wave two is starting that’s my update about ether hope you like the update if you did please hit a like button leave a comment

And subscribe and if you really like the content then please check out the channel membership also make sure that you follow us on Instagram and Twitter for additional content thanks a lot for watching bye-bye [Applause] ch