ETHEREUM HOLDERS MUST WATCH THIS LEVEL!!! ETHEREUM PRICE PREDICTION 2021 & ETHEREUM NEWS TODAY (ETH)
This is a deciding moment. Definitely make sure you keep watching because in just a moment, im gon na be revealing that important level and also the next ethereum price targets. If we can break that level ill also be covering support levels. We need to be paying attention to my ethereum strategy and towards the end of this video i will be including ethereum versus bitcoin, so definitely make sure youre watching all the way to the end, so that youre not missing out on any of this valuable information and Just before we jump into it, if all of that sounds good to you, make sure to drop a like on the video down below and if youre new to the channel make sure to subscribe with notifications turn on for more updates. Just like this every single day. But anyway, with all of that, out of the way lets get straight into what this video is about. So right here were on the ethereum to yours, dollar chart on the four hour time frame and as you can see here, first of all in my ethereum video yesterday on the channel, i was talking about how we were actually breaking through that first golden pocket. When youre, looking at the fibonacci retracement tool from this 3670 high down to this 2.6 k, low and yeah, as you can see here, this golden pocket was coming in at around 3.3 k, we did find some resistance along that level in the short term, but of Course yesterday, as i mentioned, we broke through that level right into the exact seventy eight point: six percent fibonacci level coming in at around three four, fifty and thats.
Currently, what ethereum is testing as resistance right now, but that is not all when youre zooming out on the chart and actually bringing out the fibonacci retracement tool from that 4 000 high. What you can see is were also coming into contact with this main golden pocket. The primary golden pocket that we need to be paying attention to because thats from swing height to swing low, which is really how you should be using the fibonacci retracement tool and so right here. This golden pocket is coming in at roughly around 3.5 k and so far weve come pretty close to that level. So this is definitely the main resistance in the immediate short term that we need to be paying attention to around 3.5 k. So if we can start breaking above 3.5 k really up towards around 3.6 k, which is right here, then that would be amazing to see, obviously that would be very bullish for ethereum, and in that case the next immediate price target to the upside is technically. This 78.6 percent fibonacci level, coming in at around 3.7 k well just above 3.7, k anything above that honestly ill be looking towards the 4 000 high and another interesting fact about the current price action. Just here, where were running into resistance is the fact that were running into this huge spike of volume on the vp vr indicator, which basically means out of all of this visible price range on the chart.
Right now, the majority of volume – 4 ethereum – has been traded in this exact price range just here. So when the price is coming into contact with this range from beneath, then that is actually acting as a resistance. But if we can break above this range just here and flip it into support, obviously that would be amazing to see, because after we get above around 3.6 k, which is well and truly above the golden pocket, the volume on the vp vr indicator drastically drops off All the way up until perhaps 4 000 us dollars is the next decent spike to the upside and by the way, from the current price, where we are right now to that four thousand dollar high thats still another 16, nearly 17 gain for ethereum. So definitely some big opportunities moving forward, but it all comes down to whether or not ethereum is breaking this golden pocket. This is really the deciding factor for ethereum right now, just in the short term, at least because obviously it remains a possibility for us to potentially see a rejection here and if that happens, then we have a very strong amount of confluence of support coming in at Around three 150, approximately and thats, simply because all of these levels were previous resistance, for example, the 38.2 fibonacci level, the 50 day exponential moving average, and also just this horizontal line of resistance all coming in at around three 150. But that support really kicks in at around 3.
2 k, on top of all of that, right now in the rsi were seeing the rsi actually start to top out a little bit. Obviously we havent confirmed a downtrend like what we have in bitcoin in the immediate short term. If you watched my bitcoin update video, i actually zoomed into the two hour time frame to take a look and in the two hour time frame. Then perhaps you could say we are in a bit more of a downtrend here. But the fact that this is only visible on the really small time frames when youre, just zooming out to the four hour time frame. For example, we are not seeing the same sort of downtrend, so this is just the early sign of a potential rejection and what i mean by that is if we do not break above the golden pocket, pretty soon, probably within the next one to two days. If we cant get above that golden pocket, then in that case the rsi on the four hour time frame will start heading further to the downside. If we cannot get above that golden pocket – and that is where we need to hold above this upwards trending line of support, because as well its likely that soon were going to experience another bearish cross in the 4 hour macd. Now that doesnt necessarily mean were going to see a crash or anything just taking a look at the last few times, weve seen a bearish cross in the four hour: mac d4 ethereum.
It was right here and right here and looking at the corresponding price action. That was right here, basically in the middle of that small dump to the downside before we saw a nice bounce and then also just here pretty much in the middle of that bearish price action. We saw the bearish cross form so its important to mention that we have not formed the bearish crosses yet were simply just getting closer towards it and its going to come a lot faster if we cannot break above the golden pockets within the next one. To two days, but as i just mentioned for as long as the rsi is remaining in, this uptrend were still looking really good here for ethereum, because the last time we saw a lot more bearish price action coming into play. It was when ethereum was actually breaking below this upwards training support line in the rsi and confirming it as resistance. That was pretty much a perfect sell signal right there, because, obviously, at the break of that trend line just there in the rsi, that would have been a perfect short position. But right now were not seeing the same things im, just letting you guys know of the things that we need to be paying attention to in case we do see a rejection here. What are the levels that we need to look out for and thats pretty much all of the levels that i am paying attention to and by the way? As for this support line in the rsi, its currently coming in at around 50 in the rsi, so pretty much at the exact middle of the rsi.
But if a lot more buying pressure can come into the ethereum market and really start pushing ethereum above three and a half thousand us dollars above that golden pocket. Then in that case that will postpone the bearish cross till later and in the most perfect bullish scenario. The most bullish scenario possible would be a break above the golden pocket, and then we see a bit of a pullback into the golden pocket and flip it into support. If we can see anything like that play out, obviously that would be very bullish, but as of right now, im simply just waiting to see whether we break the golden pocket or get a bit more of a rejection here to enter my next trade. And even if we do see a little bit of a rejection here to the downside for as long as were holding above those imports and support levels, as i mentioned earlier, small pullbacks in the middle of an uptrend are actually great long position. Entry points so ill be keeping my eye out for that, and i will be giving you guys real time updates over on my twitter so definitely make sure youre following me over on my twitter to stay up to date at all times in the markets and by The way the link to my twitter is in the description down below and now taking a quick look at the ethereum versus bitcoin chart on the four hour time frame.
As you can see here, we saw a very nice pump to the upside just yesterday around one full day after i bought more ethereum using bitcoin. So, of course, the subscribers on this channel would already know what im talking about, but for any new viewers on the channel pretty much exactly two days ago. I let you guys know at basically this exact bottom that i was just about to move some of my bitcoin into ethereum, and then i made a follow up tweet, pretty much straight after that video two days ago, saying that i did move some of my bitcoin Into ethereum right around here so that i can catch this next move to the upside in ethereum versus bitcoin and, of course, that played out very nicely here and ill. Let you guys know as well over the past few days that i will be paying attention to this exact line of resistance, as my first price target for ethereum and the first level that we will be finding resistance along and, as you can see here, that played Out perfectly as well, we found resistance at this exact resistance line coming in at around 0.0718 bitcoin per ethereum, so a break above this level just here which, by the way it looks like, were coming back up to potentially form another test of this level, but anyway, Eventually, if we do end up seeing a break above this resistance level, obviously that would be very bullish for ethereum versus bitcoin and, in that case, ill be looking at the golden pocket as our next price target to the upside and first of all, whats interesting.
Is this line of resistance is coming in pretty close to our 38.2 fibonacci level, but yeah looking at the golden pocket, thats coming in at around 0.0746 bitcoin per ethereum, so from the current valuation up to that golden pocket? That is around a four and a half percent gain to the upside and keep in mind thats four and a half percent against bitcoin. So that would mean ethereum is outperforming bitcoin by four and a half percent. But if youve been watching, my last few ethereum update videos over the past couple days on the channel, you would know that im actually looking for a move in ethereum for this bitcoin similar to one of these previous moves. Just here and you can clearly see the type of price structure that ethereum vs bitcoin has been forming recently ever since around the beginning of june. All the way back here ill just really quickly recap for the new views on the channel. Basically, as were ending a month and beginning a new month in the last three months in a row, ethereum has had a very bullish movement at the beginning of each month and then, throughout the rest of the month. Weve had a long drawn out. Bearish movement right into the end of the month and then, as the months change over into the beginning of the next month, we have another bullish, push and then for the rest of that month we have long drawn out bearish price action and then another bullish push To the upside in the very beginning of the next month and then long drawn out, bearish price action and as you can see here, we are potentially just starting.
The next big bullish push for ethereum versus bitcoin, now its important to mention that this type of analysis is a little bit of speculation, its going off fractals, but its, not necessarily a trading pattern, or anything like that. So, just because weve seen it the last three months in a row, it doesnt necessarily mean that were going to see it again for a fourth month in a row. But with that being said, when were measuring out, these previous moves were looking at around a 23 move approximately or around a 25 move, or this one just here was around a 20 move, so really around 20 to 25 to the upside from the bottom. Just here from these lows and right now, if youre measuring from these lows were currently up around six percent to the upside. So if we continue higher up towards around 0.08 bitcoin per ethereum, then according to the previous three months worth of price action, that could be one of the next major price targets for ethereum vs bitcoin, but to be on the safer side of this trade. My personal ethereum vs bitcoin strategy would actually be to scale my ethereum back into bitcoin a little bit before we see a 20 gain. So perhaps when were at more like around a 15 gain ill start scaling back a little bit of my ethereum back into bitcoin. Just to secure some of these potential gains and dont forget to follow me over on my twitter to get these extra updates in real time as theyre happening, and the link to my twitter is in the description down below.
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