Link to the More Trading Online Stocks and Shares Service:
https://www.patreon.com/MoreTradingOnline
Trade on Bybit:
Receive an up to $30,000 bonus (see terms on Bybit)
https://partner.bybit.com/b/MCO
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!
—————————————————————————————–
🧿 Links:
Trade on Bitget:
https://partner.bitget.com/bg/UQ4SQX
Technical Analysis with TradingView:
https://bit.ly/Crypto_Tradingview
Set up trading bots with 3commas.io:
https://3commas.io/?c=tc1323713
Trade on Coinbase:
Receive $10 in BTC (see terms on website):
https://bit.ly/MCOinbase
Trade on Binance:
Receive a 15% fee discount (lifetime) when using this link.
https://accounts.binance.com/en/register?ref=XNWEZH08
Trade on Kucoin:
Receive a 20% fee discount:
https://www.kucoin.com/r/af/QBSSSL4T
Trade on Bybit:
https://www.bybit.com/en-US/invite?ref=WE4091
Code: WE4091
Trade with eToro:
https://etoro.tw/3oFUKCk
Trade with Trading212:
Receive shares worth up to $100:
https://bit.ly/Trading212MCO
Protect your cryptocurrencies with Trezor:
https://bit.ly/morecryptoonline
Protect your cryptocurrencies with Ledger:
https://shop.ledger.com/?r=0fb3c8be2e46
Stay safe with NordVPN:
https://go.nordvpn.net/SH4s0
—————————————————————————————–
🧿 MCO World:
You can find the Technical analysis channel here:
https://www.youtube.com/channel/UCsl6Z6p7GOkczo8Cv-GH6Dg
You can find our German crypto Youtube channel here:
https://www.youtube.com/channel/UCRRrpK63KNPZMTLbv61UKRw
Please check out the More Crypto Online website:
https://www.morecryptoonline.com/
Official Social Media Links:
Instagram: https://www.instagram.com/morecryptoonline_official/
Twitter: https://twitter.com/Morecryptoonl
LinkedIn: https://www.linkedin.com/company/more-crypto-online/
—————————————————————————————–
🧿 Join the private MoreCryptoOnline membership group:
https://www.morecryptoonline.com/plans-pricing OR
https://www.youtube.com/channel/UCngIhBkikUe6e7tZTjpKK7Q/join OR
https://www.patreon.com/morecryptoonline
🧿 Join the private MoreCryptoOnline foundational video training course:
https://www.morecryptoonline.com/technical-analysis
—————————————————————————————–
⚠️ Very important: ⚠️
– please do not reply to anyone with the MCO logo in the YouTube comments who sends you a Whatsapp number. This is scam!
– please do not join any other MCO Telegram channel than the ones you received the links for. These are all scam!
– You find the official Social Media links down below in the description section.
—————————————————————————————–
☕️ Caffeine:
For additional support you can now buy me a coffee ;-):
https://www.buymeacoffee.com/morecrypto
—————————————————————————————–
Financial Disclaimer:
We are no financial advisors. The ideas presented in this video are personal opinions and for entertainment purposes only. You (and only you) are responsible for the financial decisions that you make. Ideas presented in this video are my opinions at the date of recording and may have changed after recording.
Hello and welcome to another update video about ethereum the ethereum price has seen a little bit of an uptick today but we have not broken out of the local range so let’s first talk about the structure on this chart and then we talk about the relevant breakout point to the
Upside as well as to the downside and the implications of each scenario so basically we’re taking a look at the short-term bullish and short-term bearish scenarios I think before we do that um it’s worth understanding is the trend up or is the trend overall down
The trend is clearly up I showed you in the previous video The Daily time frame I can encourage you to watch the previous video to get a little bit more context or an understanding of the context in this video I’d like to keep keep it only um on the 1 hour time frame
Because also here not too much happened we’ve seen a little bit of upside today which is potentially the uh start of an extension to the upside highlighted here as Circle wave five of one but we need to see if this is sustainable and we need to see a break above
3,30 to confirm that on this chart we have this one2 setup the initial one to setup a third wave to the upside which topped here on the 20th of February fourth wave pullback yeah and we might now be already in the fifth wave um it is also possible that all five waves
Topped already but regardless both are bullish scenarios okay we are making higher highs higher lows and until we topped here no until we topped here we only had three waves up with that latest High we have five waves up they are not yet perfect one more high would be much
Better however if we form uh if we go too high specifically above 3,100 and I explained in the previous video why exactly that level but if there is a break above 3,100 a sustained break it would indicate that we will do further rallies without any substantial pullbacks okay so you remember what Rune
Did end of last year or Solana and it could be something similar just rallies without significant pullbacks this is definitely potential on this chart bull market Target 8 to 12K yeah we might not go there in one straight line but we could go there much more directly all right so that’s just
The key level um so until we get above that level however I’m going to watch for a wave two pullback okay um which means due to the potential of having five waves up we can use a certain support area on the chart now and we have to use this specific one which
Basically tells us that as long as we are holding above that support area we can focus overall on higher the trend is up against this support area doesn’t mean we have to Max it out we don’t even need to touch it even though if this is
Really a wave two that’s happening or if a wave two is confirmed then it is likely that we’re going to see the level tested or the range tested and the range is defined between 2,667 and $2,328 um there are two more FIP levels in between 2563 2,464 they are the relevant Fibonacci
Levels where well if they get triggered they might cause a reaction all right however before confirming that we actually in the Wave 2 we need to see a break below that green line yeah the small support line there at around $2,877 plus minus a few dollars depending on your
Exchange um but that’s basically a break below the most recent swing lows and that is important to confirm that well at least some sort of a top is in place because what it’s doing here could simply be some kind of a triangle pattern or the wave four is already in
And we make one more High um I would normally watch for that wave two pullback then after the next high but we are really close to that $3,100 level so that’s just something to mention right one more High definitely likely direct further extension direct further upside extensions extremely
Likely especially as long as um as long as here yeah we’re holding sort of above that as long as we’re holding above that line um it just takes some kind of a signal okay it just takes some of kind of a signal to suggest that we’ve topped cuz this really looks like sideways
Consolidation so let’s let’s actually zoom in a little bit talk about the potentials here so for example if wave a has already started so this would yeah I mean wave four was in here well let’s take that away so we have to disregard that obviously okay if wave a has started
Then Wave 1 did sit here but you see see this doesn’t really look very much like an a-wave unless we have for example um let me just grab that for example this is an a wave a b wve and then we’re coming down in wave C of a
And this is one two little bit of a constructed count to be honest okay but again what would it um what would confirm the beginning of the c-wave Well normally the break of the low of the a wave so again it all comes down too it’s
Not so important how I label that really that’s why it’s not labeled because we’re in a Range so it really takes a break Beyond certain levels um so once that a-wave is confirmed then we can add I think more detail to the wave structure here and then we might also be
Able to define a target for the a-wave all right so we have two structural support levels on this chart as well so we’ve got this 2877 level and then down here structural support from this swing low from the 17th of February at around $2,720 so that covers the downside
Scenario not confirmed at this stage upside scenario wave five in the making okay and we might have here another one 2 3 4 5 but you see this might take us above 3,100 and therefore also here to the upside very simple breakout point the $330 level it’s the 38 to extension
Level as well as a break Above This triple top now it might be that this here is actually a triangle pattern that’s forming um you know again I could label that as an Elliot wave triangle but it’s just pointless because it won’t give us an edge it’s just important to
Understand that even even with a with a triangle it’s only confirmed that it’s um complete once we get a break above that $3,030 level so it’s just ranging ethereum moving down in corrective structures moving up that’s typically very indicative of trend continuation to the upside which is why I say I need to
See a break below that green line all I can do with the analysis is to highlight the relevant breakout points and specify the scenarios for each of them I think there’s a good chance of direct upside continuation all I can highlight is that a wave two pullback is due doesn’t mean
It needs to happen right the pricean always needs to confirm that and I can highlight the risk and it means that if we break below that 2,877 level it um basically means we have to use the $2,328 level um as main support so that means to keep the bullish perspective
Alive we have to give it that much space yeah or it will below that level it will become far less likely that we will continue our direct upside pathway but yeah it can technically speaking go down all the way to that level bounce and then R in the third wave but normally
Especially in a bullish Market we don’t even see that level tested that 7 8.6 FIP level most recently or actually towards um or since the end of 2023 pullbacks have mainly been in this region here between the 61.8 and the 38.2 FIB levels that’s my update about
Ether 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 for additional content thanks a lot for watching bye-bye is
6 Comments
Can you do Fantom?
Merci
Thanks ben ❤❤
Dare i ask…..QNT?
Thanks Ben! Could you please go for TIA?
can you do WLD