This price range were also getting very close to the next major move in the market and on top of all of that ethereum content. Im gon na be going over solana towards the end of this video, because that is one of your most suggested old coins. In the comment section down below right now, solana is in price discovery, raising it up to the fourth biggest crypto ill, be covering all of that and more in this video so make sure youre sticking around all the way to the end of the video, so that Youre not missing out on any of these important information and just before we jump into it, make sure to drop a like of the video down below and if youre new to the channel you might as well subscribe with notifications turn on for more updates. Just like this every single day, but with all of that out of the way lets get straight to what this video is about. Its right here on the ethereum to us dollar chart on the two hour time frame and, as you can see here as ive, been mentioning over the past few days on the channel. Ethereum is still finding resistance along this range of resistance, starting at around 4.6 k and going up towards 4.7 k and by the way for anyone new here on the channel, we were expecting resistance at these levels. All the way back here before ethereum even got to that resistance zone and if youre looking here on the two hour time frame, we did see a small bearish divergence which is basically a higher high in the price and a lower high in the rsi.

But considering that this is only on the two hour, charts weve basically already played that out, because when you zoom out to larger time frames like the four hour charts and especially the daily chart, then this bearish divergence just here is definitely not visible. On those larger time frames, so it isnt really that significant, if anything, the most significant thing right now on the two hour chance for ethereum is simply this range of resistance that weve been talking about for quite a while. Now, when youre, looking in the 2 hour macd, this is trending to the downside, showing that we do have a little bit of selling pressure right now for ethereum, but just bringing out the fibonacci retracement tool. As you can see, weve got the 38.2 percent fibonacci level coming in at just above 4. 450 is where i said it was yesterday and so far ethereum is finding some short term supports along that level, just there, which is obviously good to see. But if we start breaking below that level technically we do have a bit of support at around 4.4k, but honestly, anything below the 38.2 fibonacci level. It would be technically more likely for ethereum to come back down towards the golden pocket, which is the most important fibonacci level, and that is coming in at roughly around 4 350.. So those are basically the important levels that im paying attention to right now in the immediate short term for ethereum.

But when you zoom out to the four hour chart, as you can see, ethereum is still forming this huge, rising wedge pattern, which is technically a bearish pattern which, for the beginners out there that just means that this pattern is more likely to break to the downside. But its still not impossible to break to the upside, in fact, roughly around seven times out of ten, this type of pattern breaks to the downside and about three times out of ten. It breaks to the upside so even though it can break to the upside its just not as likely, technically speaking, compared to breaking to the downside, but with a pattern like this. Its still important to actually wait for a confirmed break of either the support or the resistance and right now the resistance for ethereum is coming in at around 4 650, and the support right now for ethereum is coming in at just below 4.5 k. More specifically, around 4 480.. So if we start seeing a confirmed break below that supports, and obviously if we break below some of those other areas of support that i just mentioned on the two hour chart, then the technical price target for this pattern is technically the bottom of the wedge. And right now, thats coming in at just below four thousand, but keep in mind. Weve got huge supports right here at around 4.2 k, considering we saw a huge bounce just there, and also down here as well at the bottom of the wedge, coming in close to 4 000.

But once again, ethereum is still in an uptrend here, as you can see, were still making higher highs and higher lows on the four hour chance. So this bearish price action that im talking about only comes into play. If we do actually see a strong confirmed break below some of these important support levels just here, that is how you know that its likely well see a bit more of a pullback just in the short term. I want to make that clear, usually when im talking about any sort of bearish price action. Quite often, i get comments saying that im calling for the end of the bull market and calling for a huge bear market, but that is just not the case. It is possible to have a short term pullback in the middle of a bull market. In fact, that is perfectly normal. That is completely natural to see pullbacks in an uptrend, and so even if we do play out a bit more of a bearish scenario here, a bit more of a pullback as a part of my ethereum strategy, i would consider that as a buying opportunity to get In at some cheaper prices, of course, thats, not financial advice, thats, just telling you what ill be looking at, because when youre zooming out to the larger time frames for ethereum like the daily chart that ive been covering recently, then you will see that were still very Bullish on the big picture for ethereum, even if we do see a little bit more of a short term pullback here for ethereum when youre talking about the longer term trend over the next few months, i would still be bullish.

Even if we do break some support levels just here and now giving you a quick update on ethereum versus bitcoin, this is the four hour time frame and, as you can see, ethereum is still holding strong within this parallel channel trending to the upside of course. Right now, the resistance line is coming in at around 0.0752 bitcoin per ethereum, and the support line is coming in at around 0.0713 bitcoin per ethereum. So those are basically the important levels that im paying attention to right now for a theorem, valued against bitcoin and basically for as long as the theorem is holding above. This support line were still in a really nice uptrend right now, so for anyone that has moved bitcoin into ethereum. Obviously, youve done very well and if you were on the channel around three weeks ago, back here and also back here during these time periods right back here, i was letting you know publicly on the channel that i was moving. Some of my bitcoin holdings into ethereum. Basically, selling bitcoin to buy more ethereum in anticipation of a major move to the upside, and so anyone that was on the channel a few weeks ago, and that was following along with that strategy right now, you would be doing very well so big congrats on all Of the profits and just before we get into the solana analysis today for any new viewers on the channel or for anyone that missed out on my recent bitcoin and ethereum videos ill just quickly remind you that ive officially launched a crypto world website.

The link to this website is in the description down below and on this site. Youll find a complete technical analysis course that basically condenses over four years worth of research into the crypto markets, into a beginner friendly course. So for anyone that is serious about making money in crypto or if you want to learn more technical analysis and trading strategies outside of what i cover in these videos, then this is simply an extra resource for you to check out. If you would like to and once again this is the first link in the description down below and in the pinned comments, but anyway getting into the salon analysis today. This is one of your most suggested all coins in the comment section down below. I try and read all of your comments. So, just let me know your suggestions and if a whole bunch of you is suggesting the same thing, thats when ill be sure to turn that suggestion into a reality here on the channel. But right now, solana is entering into price discovery, because this green horizontal line right here thats the previous all time high for solana, which was coming in at roughly around 215 and so clearly, solana has broken into a new all time high, which, generally speaking, is a Bullish sign anytime, were breaking out into a new all time high, that is a bullish sign now, obviously buying after weve broken into a new. All time high is not as good of a buying opportunity compared to accumulating during the bearish times, but with that being said, there are more bullish factors for solana right now, for example, the fact that we were in this parallel channel right here, which could potentially be Perceived as a bull flag – and what we can see here is not only solana broke above this green line at the previous all time high.

We also broke above this upwards training line of resistance drawn between these two rejections and we actually came back down and formed a perfect retest along that exact level to flip it into support. So that is a bullish sign for solana, but keep in mind, because the flagpole is not very long for this bull flag. That means the technical price target is really not that high up and in fact, if you measure it out, weve basically already met the exact technical price target right now. So, even if you wanted to call this a ball flag, its pretty much already played out, but with that being said, when were zooming out to the daily chart for solana, what we have here is even bigger because, as you can see here, we formed a huge Cup and handle pattern on the daily chart for solana, which is technically a bullish pattern and weve already broken out to the upside here. The only concern that i have is the lack in volume at the moment, and also we havent really seen a major retest on the daily charts to keep that in mind as well. We dont have a whole lot of confirmation with this major breakout on the daily chart, but with that being said, with this breakout to the upside out of this cup and handle pattern that sets up a technical price target all the way up at around 314 us Dollars per salon, which, by the way from the current price of solana, to that price, target, youre talking about a 32 to 33 gain, but between now and then we do have a fibonacci extension to pay attention to.

That is the golden ratio, the one six one, eight fibonacci level coming in at just below 280 dollars, more specifically around 278. So that is also a major level of resistance that ill be paying attention to for solana if we continue higher here and as for some support levels, if solana followed along with bitcoin, for example, how were having a short term pullback, then, in that case we have This upward trending line of support coming in at around 225 and anything below that ill, be looking at the previous all time, high level coming in at around 2 15. and by the way, if solana can actually make it down towards those levels and get some sort Of successful bounce off either of those levels, then, once again, that would act as major confirmation on the daily charts for this huge breakout so really any short term pullback that were seeing right now in solana. Id consider these sort of short term pullbacks as buying opportunities. Considering we are in a very strong uptrend breaking into new all time highs but of course, thats, not financial advice. This is giving you guys an inside look of my strategy and also taking a quick look at solana versus bitcoin, because right now, solana has seen a major breakout to the upside with a successful confirmation. In fact, quite a few bounces along this previous resistance level and whats very interesting when you bring out the fibonacci retracement, as you can see, were currently testing.

The golden pocket, in fact, were starting to break above it already. So this is a very significant time for solana valid against bitcoin, which, by the way the golden pocket is coming in at around 0.00383 bitcoin per solana approximately. If we continue higher, we do have the 78.6 fibonacci level coming in at around 0.00418 bitcoin per salana, but other than that ill, be looking towards the all time high for solana varied against bitcoin, which is this level up here. Coming in at around 0.004 bitcoin per salana and by the way from the current price of solana, varied against bitcoin to the solana, all time high for solana varied against bitcoin. That is, that is another 20 gain for solana, valued against bitcoin. So for the beginners out there, that means that solana would be outperforming bitcoin by 20. So in the immediate short term, we do have that golden pocket level that were kind of testing but were potentially in the early stages of getting above it, but other than that. Honestly were looking pretty good here for solana varied against bitcoin, but just letting you know it can be very risky to sell bitcoin into old coins now, generally speaking, the bigger the old coin, the less risk. For example, as i mentioned earlier, i moved some bitcoin into ethereum a couple weeks ago and that worked out okay, but as you go down the list of altcoins and get to more volatile old coins, technically you do start to take on more and more risk.

If you start selling bitcoin into more volatile old coins, obviously the more volatile altcoins can provide bigger gains, but when it comes to old coins, just please make sure you do your own research, especially in the old coins fundamentals. Dont just buy something because ive mentioned it here on the channel and by the way, if you want to get extra real time updates like this throughout the day, make sure you follow me over on my twitter and the link to my official twitter is in the Description down below, but thats just about it for this video, if you enjoyed or got something valuable out of this video, be sure to leave a like 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, i really do appreciate all of your support in the channel. At the moment, i cant thank you guys enough and before you click off, especially for the new viewers out, there make sure youre checking out one of these uploads. If you havent, already in the bottom left, ive got a video showing you how i earn passive income every day in the crypto markets and in the top left. Ive got a buy bit tutorial, which is the exchange that i most commonly use to trade, bitcoin and ethereum, but anyway, that is really everything i say for this video.