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 price is still consolidating actually in quite a bullish way um I also highlighted to you yesterday only in the last video that it’s absolutely possible that we get one more extension here to the upside in this fifth wave of wave 1 it’s

Also possible that this wave 1 is already over so what does it mean I’m talking about the structure that developed um between the 23rd of January and basically today it is quite a bullish structure it’s a bullish market and we are not even getting um any breaks of support that’s quite bullish

And what we can identify however ever with the Elliot waves is the potential that a five wave move to the upside is complete so what does that mean it means that we have to consider that at any point a correction of this entire move to the upside is due a correction is due

That doesn’t mean it has to happen all right it doesn’t mean because um it is possible that this five wave pattern which we can identify extends further and that we get either one more high or that to be honest it’s going to completely escalate and we are already

In the main element of a larger third wave rally because a wave two already bottomed on the 23rd of January as per our analysis that means the next move to the upside is a third wave rally and if we are in a third wave rally and it’s

Not the first one because if you remember the daily chart I showed you in the last video then you will see that we have completed several wave two structures and because there are lay there are layers of these different uptrends in the structure it means at

Some point we’re just sort of in the heart in the so-called heart of the third wave rally in the main element and we might not get any deep pullbacks anymore Elite wave allows us just to understand what are the key support levels that we now have to consider they

Don’t need to be tested the trend is up that the fact that we can identify five waves even though they might not even be complete yet because other interpretations allow for extensions it just means it’s bullish so see we had a one two setup on this chart another one

Two another one two and another wave one which could give us another two and then go maybe we go directly but you see wave two completed here then here that was in October here that was most recently and then all these point to the upside so quite

Bullish what we were just checking in recent weeks was is this only a three-wave rally or is it a five-wave rally that developed from the 23rd of January we know that um crypto rallies often start from Messy structures that here was a messy structure but it’s not unusual in crypto that real rallies

Start from yeah as I said messy structures so we always have to have an open mind understand the context and the larger Trend the trend is up especially after the market completed five waves because we can call it like this um a five wve move but the thing is it’s not really

Coming down and I only highlight the potential that after five waves if we now break micro support levels then um it is it’s possible that this wave two has started but I’m skeptical I’m skeptical because I don’t see the downside pressure there are no impulses

To the downside at least in the a wve of wave two we would like to see a sharp pullback not happening and also we haven’t taken out those swing lows that are mentioned as first signal that a pullback has started and because we are in an uptrend and no micro support was

Broken no previous swing low is broken I continue to focus on higher we’re also moving still in the ascending Trend Channel now zooming in a little bit um I think it’s worth understanding what is the support that needs to break to at least suggest that wave two could have

Started and that’s see the green line so we talk about $2,877 pretty much plus minus a few dollars needs to be a sustained break that needs to break and then I need to see a breakout of the trend channel to the downside then we can talk about okay

Maybe this is an a-wave then we get a b-wave rally and a c-wave move down and then support is between 2,667 and 2,328 and as long as we’re holding 2,328 there isn’t really anything bearish on this chart now possible we extend further more directly and it’s

Possible that either here a wave four is still in the making maybe even as a triangle see that’s possible could be that this was a wave a this here is a b c d e see all of that is easily possible or and then it would break out to the upside

Or um it forms some kind of a flat structure here maybe even as a wxy where this was a wave W this here was an X wave and this here A Y wave might come down a little lower but might already have bottomed or wave four completed here and the wave

Five is an ending diagonal and this is a one two setup already and we’re moving up see there are many options it’s just I don’t want to label them all because it would confuse you and um all I can high highlight is it takes really a break of

That micro structure to I mean the previous swing lows here on a sustained basis to suggest that we really have put a top in place in recent updates I tried to formulate in a way to say that it really takes a break below that green

Line for me to entertain that a top is in in place until then the trend is up okay and the analysis tells us what needs to happen to really yeah you know tell us that some kind of a top is in place and it’s not happened yet so yeah

That’s sort of what we’re watching um so be aware that further upside is possible and on The Daily we can see that it takes a break below 3,100 that’s a an important sentiment level here in this case a 78.6 extension to suggest that we maybe go higher without any significant pullbacks

That sometimes happens in the main element of a third wave rally so it’s a bullish chart I expect further upside it is possible though that we before we get this further upside get a pullback into the Wave 2 support Zone if the market offers it it might be an opportunity

Okay that’s my update about ethereum hope you like the update if you did please hit the 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 thanks a lot for watching bye-bye

L