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!

Foreign Welcome to another update video about Ethereum also we see some slight upside Here today we talked also about bullish Potential here in this chart and of Course it's all a little bit too early To really confirm that but the most Recent long trade or entry area was this One here between 11 30 and 12 10. um so Far this support area has hold or has Held is holding and based on that and as Long as the 11 30 level is really Holding but within that 11 30 level Really those recent swing lows so at Least here 1170 and then very very Recently the 1210 level as long as those Levels are holding we can focus on Higher it's a bit like Bitcoin if you've Watched the Bitcoin video and we are in An upward sloping Channel we today have The PPI data we currently already see Some upside the S P 500 is at a decision Point as well today I posted that on the Telegram Channel earlier today because This is sort of also at the key decision Point here it has five waves complete Just to show you the S P 500 and PPI Might lead to some short-term volatility And might give us a catalyst to tell us If this fifth wave is going to push Higher or if we're going to come down in A wave 2 already because this is already A five wave move and based on that maybe The crypto Market will move a little bit

Alongside that as well but bear in mind That crypto at the moment has started to Decouple from the S P 500 in the stock Market anyway so over recent weeks we've Observed that more and more but also Here ethereum since the 9th of November Low we can count that as five waves with A truncated wave which is not ideal or a Three wave structure as a leading Diagonal if we want to count it bullish Possible not very reliable but the chart Looks much better than Bitcoins because The retracement was not too deep Bitcoin's retracement was a little bit Deeper than ideal And that would have completed here a one Two setup The Wave 3 would be next yeah And as long as we are holding as I just Explained those recent lows we can focus On that here especially in a yellow Count in five waves so we might have Seen here the wave one already all the Way up to 1291 that was uh yesterday a Wave two down that is now forming a Channel and we could now be in the third Wave to the upside but to get some Evidence around that we need to break Above the 1291 level so the 1290 1291 Level is really a key breakout point it Is the high of the wave e triangle here From the 12th of November and this is The high of the wave one here in yellow And if we break above that level it will Make it more likely or quite likely that

The Wave 3 is already unfolding but Normally what you would expect in a Wave 3 is quite a bullish statement now we Are not seeing that yet we haven't seen That yet but as long as we are in the Channel and as long as we're holding the 1210 level specifically we can look at Higher for Wave 3 in yellow let's talk a Little bit here about a price target for Wave 3 in yellow as well that would be We take the length of wave one go down To 12 10 Target would be around 1400 for Wave three in yellow then there should Be a wave four down and away five up and Then that would all be part of the Red Wave 3 so it's very similar to the Bitcoin count here of course also here For ethereum we cannot rule out that a New low would be made Um Target here no target for the Wave 3 In red would be round about 15.95 so I Had a few questions you know why do I Believe this level is holding well I Think it is not unlikely at least it's Holding of course the development here On the 9th of November with FTX it has Sort of damaged this chart as well but Not to a degree that we would make the Bearish scenario the primary expectation In the bearish case of course we would Lose the one thousand dollar level and That would open the door to new lower Lows below the June low Um this can of course happen at the

Moment it is yeah it is also not too Unlikely we're quite close but as long As we're holding this support Zone we Can focus on higher and should we drop Below a thousand dollars then all we Have to do I mean either we have it on The Ledger anyway on the trezor we are Investing long term we're not too Bothered about that or we have our stop Losses in place and then we can set the Trading range lower so you know that's All it is you know the edit waves allow Us to identify low risk High reward Setups and this here was one yeah or is One where we could move in a larger wave Three of which all of these yellow and Red counts would be part that could take Us to around three thousand dollars so You know it's quite low risk if you look At drop to a thousand dollars setting a Stop loss somewhere in that region will Obviously below that level somewhere no Financial advice Um but a possible reward could take us To three thousand dollars and more I Mean the long-term Target for ethereum Is around eight to ten thousand so you Know I'm happy to risk let's say 200 or 270 dollars for a possible let's say Eight thousand dollar gain you know That's sort of just sort of the the Level you need to think about it Depending on obviously you know how how Long term are you actually trading for

Investing For but this is where we are Most recent entry was here the wave too Low Um and we're now looking at if we get Five waves up then there should be Another drop down anyway what is not Entirely clear if this is already the Five-way structure that would complete Here the Wave 3 or if this is only going Going to be the first wave to complete That third wave it's not entirely clear Yet PPI will be released in 15 minutes I Guess when you watch the video it will Already be released Short-term volatility expected nothing Really game changing here I guess but We'll see and I'll keep you updated 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 thanks a lot for Watching bye Thank you

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