Ethereum Daily Analysis – ETH Ethereum Price Prediction – ETH Ethereum 2024 – ETH Analysis :
So the key coins team and I are doing incredibly well on the ethereum position that we jumped into a few weeks ago against its mentality.
So we’re basically overwriting it, I’m just relying on the data, I’m looking for clues in the charts, you know I found this clue on the usdt chart, right there running resistance.
There is a nice inverse correlation, also with the S&P 500, which has just shown you, and you also know the most important thing in the structure itself.
Ethereum and the bullish divergence on the stock, the macd and also the RSI over the daily period, ethereum is trying to tackle the daily ribbon of coins, and it is that it seeks to maintain it, and create this green buying point.
One of the reasons I made an incredibly bullish reversal, this time last year, is because data from the Bitcoin deal.
So if we take a look at this time last year for those who don’t remember, I was really optimistic about bitcoin after this correction, and also ethereum, and I told you that I think it’s only here, and you know we’ve done incredibly well so far.
So I think ethereum is in some kind of expansion, main diagonal missing a final fifth wave, that’s why I also bought the other week on this support line, and you know I will stay in this position even if we dive again.
It’s a five-week counter, and that’s what we’ve got involved, so right now, if you ever see five waves on the downtrend, buy if you ever see five waves on the uptrend, basically get rid of it, it’s really simple.
So now we have the 2016 data, we had a positive September at this time last year, we had a positive September, so I was incredibly optimistic given the data, because you know if we look at 2016, we had an incredible end of the year 2015 bullish incredible end of the year.
So again, you know that the data accumulated true the 2023 the end of the year was incredible, so again if we get a nice positive result, and we have about a week left so let’s not jump to conclusions yet.
But if we see a good positive September for Bitcoin, it’s the monthly close, so you know there’s no reason to suggest, why we won’t get that you know a nice upward movement, and what I expect for ethereum.
I think you may know that the Bottom is there, and we are looking at the reasons why we jumped in the week against his mentality, and we bought them some nice positions.
Okay, let’s dive into the ethereum chart to see what we can see, so let’s take a look at ethereum over the daily period at the moment, we may have the assessment of the quality of the bottom, and so far we are around about 20% on this movement, which we know.
A few weeks ago on this neckline that I am relaying to you so far, everything is fine, we are going up the stairs, but that does not mean and it does not guarantee that this is the absolute bottom, we have to see a little more structure, so that you know for those who remember.
I told you from left to right, if we create some kind of inversion model, and we go up Tri, we come out then yes, all the systems disappear, and the data in the lowest charts of the index the lowest of the RSI.
The stock and the macd below the zero line, are the same as the lows of the index there, the lows of the RSI and the stock and below the zero line again on the macd basically.
So we seem to agree, but we need to see confirmation that a confirmation has arrived at this bottom, once we burst the ascending triangle, and got our ass back over the ribbon and flip.
Green flip on the ribbon has been holding down since the trend change lower.
Break of the ascending triangle, we definitely want to see this break and hold the ribbon, and come out this white sloping trend line, because it could actually be a bump and run pattern, you go down like that if you are in the lead, you take it out and you are off.
And then I think that’s what we have from this hollow in the market, just in November 2022, the truncation 1 2 3 4 5 I think we are assembled impulsively in a manner corrective impulse and it is a correction, but what we have done, we rode this wave, a top with this bottom.
So that’s the only bullish thing we have going forward, is the fact that this is an impulsive impulse fix and we’re missing a final fifth wave of a main diagonal for ethereum.
So this can be a clue provided that we maintain this neckline obviously, and that we don’t lose this wave too low.
Ethereum could be on its way to the red trend line.
Finally I know that in the last wave, or the final fifth wave of the top of this particular cycle, so that’s what I have my eyes on, you know and I think the data of the closing of Bitcoin at the end of this month could give us a major clue.
We’re seeing a nice little reaction so far for etherum, maybe from carbon to some kind of structural bottom there, if we get our butts back on top of the ribbon, and go green.
You know, I think it could be your systems are going for ethereum, and that’s something you could expect, but obviously there will be ups and downs along the way, maybe some kind of ascending triangle, which is a signature reversal pattern once we eliminate this resistance level.
The white trend line, I also think will be a major major signal for ethereum, and it could coincide with some kind of year-end pushing next year, which we see if we get a positive closing Bitcoin on the monthly period.
Conclusion :
I think ethereum could be on its way to 8K, which is that red line, which is a target I’ve had since 2019 can you believe it.
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