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

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

[Music]
hello and welcome to another update
video about ethereum so on the East
chart we’ve seen um continuous increases
price increases from this Friday low the
19th quite promising actually but not
impuls yet so there is more the price
needs to do to convince us and to
confirm actually that a low has formed
in all of wave four now that’s I mean
that’s the main question we’re dealing
with on this chart on most most charts
actually we have um obviously this
ongoing wave four correction here so a b
c that could be actually finished that’s
why I’m treating the chart as if it if
the correction is finished but it’s not
confirmed yet okay so we just need to be
very very careful we need to be watching
this um the parameters that the analysis
gives us to get early warnings if
something goes off the yeah off the road
okay if if it deviates from the yellow
count because yellow count is the
short-term bullish one in which we
already bottomed in this fourth wave on
Saturday the 13th so in this count if
wave four really bottomed we’re now
moving up in five waves and need to see
five waves that form and reach
$3,770 to get a first confirmation
really that this wave four has
bottomed now if wave four is bottomed
then the wave uh here to the upside that
five wave move would only be possible as
a diagonal pattern so that means the
fifth wave would be unfolding after a
wave four low and the fifth wave would
also be a five wve move and would likely
be the first wave of that fifth wave
then we should get a wave to pullback
afterwards and so on you know and should
go but for now we don’t even know if the
low is in we can track it and get some
bullish parameters for it that need to
be respected along the way however if
the price fails along the way and cannot
form five wve pattern instead breaks
below support a support area that the
analysis gives us well then it was just
a high b wve or well just a b wve and we
come down in wave C again okay in this
WX y pattern and then this year is an A
B C pattern sort of the bearish
alternative or bearish scenario I’ve
been sharing with you for the last well
week or
so so zooming in going to the 1 hour
chart you can see that if the fourth
wave already bottomed here on the 13th
of April
then the wave 1 topped at around
$3,300 that was here on Monday the 15th
the wave two bottomed around the 19th
yeah here at around
2865 we could now be in a third wave the
problem is because it’s a diagonal the
third wave is not impulsive I mean
that’s not an Impulse I can say what you
there’s no impulse here
so it’s bit tricky it’s a bit tricky
because we can’t really say clearly what
it is I mean it would have to be an ABC
structure because the wave 1 was also an
ABC my best interpretation I can offer
is that this was an a-wave that might
have topped this here could have been a
b wve or at least the price is trying to
form a low in that b wve here in this
region and then the c-wave rally has
started might reach 3537 to
3,624 and then we should still get a
45 once we’ve um reach this area up
there that just mentioned I can add a
support zone for the fourth wave
pullback
and then we can talk about the fifth
wave that would that would then still be
to come okay so these are um this is
what we need to see from a bullish point
of view however from a bearish point of
view this here would just be a b-wave
rally and if it fails along the way and
cannot hold support and also breaks
Below Wave four support uh well yeah
then it’s likely just a b wve and it
would be within a still unfolding wave
for correction the currently the support
area is between
2952 and
$3,114 which means that regardless of
whether the B wve is already in or not
if we come down we need to hold this
support region and if if it can’t then
that’s the first indication that we’re
actually in the white count and would
then possibly Target $2,600 to
$2,500 next so really the next Target
for the Bulls is to break out above
3,300 which is the next nearest
resistance level here as highlighted in
green that’s my update about ethereum
hope you like the update if you did
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lot for watching bye-bye

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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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