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 well ethereum it starts to look a little bit like a triangle here it starts to look a little bit like a triangle so um that could indicate that we get another extension High higher but obviously um that you

Know I cannot confirm that until we have a bit of a breakout to the upside but I would always try to lean with the trend and the trend is still up we have not let’s say formally finished Wave 1 here um obviously we talked about in previous videos that ether completed technically

Five waves to the upside um but that doesn’t mean we have to get that pullback it just means that now we need to be on on the watch yeah on the lookout for that wave two pullback but we need to see certain signals that this pullback starting and

A signal would be a break below that 2,877 level or maybe even a few dollars lower I mean you know these swing lows that have been established here so it just needs to be a sustained break below those and then we can say okay this is

Probably the a-wave of the Wave 2 and the Wave 2 put pullback zone is defined between 2,328 and 2,667 so that’s the support Zone if the market is so generous to offer a pullback and I would really like to see one because it would be a great area to

Add positions if the market is so generous to offer a pullback yeah it could be an opportunity Zone um to to add some positions before a third wave rally basically occurs um however as I said this here could be a triangle so I’m not ruling out further extensions if

I take out that Nano count there um it’s absolutely possible remember this wave four was also extremely shallow back then so it’s entirely possible that we are still in wave five of one so extensions are always possible it’s just that now I can make a case for five

Waves yeah now I can make a case for five waves which makes it even more bullish this um this structure okay so that’s what we oops what we’ve been communicating um one second just try to move that third wave there the label yeah we we could be we

Could we could have done that and and now the wave four might still be unfolding as a triangle for example um that is also more in line with actually what Bitcoin is doing to be honest um that we’re now um still in a fourth wave but again you know for both of these

Coins Bitcoin and ethereum we’re watching for a for some kind of a pullback so either it’s um getting that fourth wave completed or um it’s the wave two so and I told you what we need to see to confirm that a wave two has started

Until then I see this rather as as a wave four and yeah a wave four can be a triangle for example in terms of triangle wave count we might have seen here an a wave a b wave this could be a c wve if it forms a

Higher low then a d-wave and an ewave and we could go up more directly triangles are typically the um well the second to last um um second to last let’s say structures in a cycle so not the last one there’s one more to come but that tells us okay

You know expect further extensions if another extension happens 3,100 which I showed you earlier today in my previous video on The Daily time frame will be next resistance and a sustained break above 3,100 could send it directly higher I explained that in the previous video we might in in a in a

In the case of a sustained break above 3,100 we might not see any deep pullbacks anymore um if you want to know more about this feel free to check out my last video but also tomorrow we are probably going to talk about the daily time frame again so yeah I mean nothing

Really um nothing really bearish here anyway it’s a bullish chart it’s a bullish structure um we’ve been leaning towards further upside um because we we I mean I tend to go just with the trend okay I tend to go with a trend not guess when a trend finishes um tend to give

You the levels that need to break to confirm some kind of a pullback and if that pullback is then confirmed we have some levels to watch where we could add positions or at least where there might be a favorable reward to risk um opportunity but I’ve also mentioned that

This wave to may never happen yeah it may never happen we might escalate more bullishly directly to the upside if we get one more extension and if that extension gets a sustained break above 3 3,100 so but what I would like to do so you know let’s keep it like that at the

Moment um but I could also make the case the wave one is here so that the count itself is not so important here right now yeah the count itself it just tells us that technically speaking wave one no not that let me just I just wanted to copy actually this

Wave 1 let me see yeah so wave one could have finished here or here yeah so these are two two potentials to watch there and what I would like to do though I would like to take another look at the ebtc chart because this tells us which of

These ones is likely outperforming the other one in the next few weeks or even months and I could make a case that five waves to the upside have formed now yeah I prefer another few squiggles to the upside possibly touching that trend trend line and then we have the next

Five waves up okay and this is getting really interesting but I I really need that breakout above the trend line then as well but I mean yeah I mean what can I say we’ve had a reaction to this larger Target area back in January a rally a pullback which was corrective

Reaction we had needed to another five wve rally as per the count and um if we really if we then hold the next swing low as well I mean that’s the next setup right I can add another support area and then a break break above these highs

Will be the confirmation that we have really bottomed now what does that mean that means that eth is likely starting a new uptrend or actually continuing with the with the overall uptrend that’s already existing on the chart but since 2021 we’ve been here in the downtrend so it could be really um a

Substantial um well opportunity because then ether if confirmed it’s a little bit too early for that yet but if confirmed if we break above the trend line and this wave one high there at 6.13 um well it definitely would it would indicate that ether is outperforming

Bitcoin okay and that is not a small thing because this would be only the beginning of really a more substantial Trend oh I need to go to the daily chart again yeah there you go so it would be the beginning of that seawave here okay and um we’re down here

Now so that could be interesting so yeah that’s what I’m watching in parallel um therefore also the message that I gave you in my earlier video and maybe I do open the daily chart quickly the message in my earlier video but also over the last few days that you know we have

Three one two setups on this chart already from the June 22 lows 312 setups one 21 212 and at some point we don’t get this you know at some point it just goes okay otherwise we you just get too many choppy structures um I would like to see

That wave two pullback because it offers um some opportunities to add but just look at what you know in the past we had oh something shifted here for some reason these one two setups something shifted okay that’s fine um but then you only get so many at

Some point it just goes right at some point it just goes so yeah so please please be aware of that um it’s not going to always pull back pull all these pullbacks you know have become less and less deep the last one extremely shallow here in January so

Yeah it’s quite a bullish chart at the moment obviously only as long as support levels are holding but um they are very well defined so we’ve got some levels to watch hope you like the update if you did please hit the like button leave a comment and subscribe and if you really

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