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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Hello and welcome to another update video about ethereum the ethereum um chart has been maintaining its sort of breakout position obviously recently broke out Above This wave three high that we had on the chart and the 15th of February High and um we had five waves to the upside

3,29 was reached that was the first well ideal Target yeah ideal Target um that we received by measuring and comparing the waves one to three or one through three actually it’s the entire length and then you compare that with a length of the wave five and often times a wave

Five falls into this range we then said okay we’ve got five waves to the upside complete that um definitely increases the likelihood that really a lasting low was established here on the 23rd of January and we can work with that structure we can add a support level or

Range to the Chart which I did it’s between 2,328 and 2,667 however I’m not going to tell you the price will get into this region now because the uptrend is very much still intact yeah the while we have a little bit of choppy corrective price section

Um we haven’t taken out a previous swing low and we haven’t fallen back below the breakout point for me that’s not yet the start of the wave two it could have started but I need to see some evidence you know it’s not that I expect the

Price to start a wave two now I am cautious or from an analysis point of view um I’d be cautious about this it could happen if the market offers it I think that’s the right mindset if the market offers a pullback then it could be an opportunity and if

There is one to maintain this structure the market should hold above or E first price should hold above 2,328 that’s the critical 78.6 Fibonacci retracement any break below that level will likely lead to invalidation probably tomorrow I will have an alternative scenario ready what we could

Do with that structure in case we see a break below that level and then inv validation with a break below the 23rd of January low I’m still you know working on some options but um it’s a five wave move up what can I say and the

We we did have on the chart before a high b-wave scenario I’ve taken that off now because we have five waves up that’s uh what I always said you know we can um we we cannot rule out a high B wve until we see a five up move well

Ideally we also see three waves down the thing is wave counting is to a degree subjective um it’s the Fibonacci levels that tell us the truth and that are objective but still you know the magnitude of that increase and the five-wave structure it respected very well the Fibonacci

Retracements extensions all good so you know I’m leaning towards this one two setup an alternative perspective I’m working on that but that would only come into place uh or into play with a break below that 78.6 retrace level at the moment the market is um or the price is

Consolidating below that yeah below that resistance level here below that 38.2 extension um a push above that level would send it possibly even to 3,236 or at least to the top of the trend Channel I mean the upper boundary line it really takes a break below the

Tuesday low here a sustained break a convincing break to suggest that this wave two has started it would be best if we saw a five-wave move to to the downside which I don’t see at this stage then a corrective rally which would be the B wve and that would likely confirm

Here the ab setup um and the c-wave down would then follow and then we can also calculate the target for the seawave more precisely um we also see on this chart a potential Head and Shoulders pattern where the Tuesday low is the neckline and it could also develop a larger Head

And Shoulders pattern where the b-wave could be the right shoulder but that is all speculative let’s first see if the market can break below that green line if not then the uptrend is still very much in play and further extensions are possible that’s my update about ether hope you like the

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