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Ethereum Technical analysis

Hello Everyone Welcome back to another Ethereum update

Hello ladies and gentlemen I want to talk about ethereum of course looking at Ethereum you can see that we do have a very nice W formation looking to play out but we have to be very cautious of this 3683$ Zone and the reason for that is looking at previous price analysis you will notice of course the fact that we do have a scenario a now for those of you that don't know what scenario a was it was back when Ethereum was trading around the 2021 region is when I mentioned to you guys a same sort of indication on the chart that we have seen prior and that level ended up playing perfectly so scenario right now, of course, is you can see the fact that we have seen a retest of 4028$ as of right now we saw a heavy corrective move as well as the fact that we saw this same sort of Wick opportunity down into the 3K region f

Ethereum you will see that the same sort of analysis has played out we had 4028 down to the same sort of region at 3030 and now we are seeing that same sort of pullback

The daily time frame that you will notice that on Ethereum during that price analysis, we had a very nice pullback opportunity into the exponential moving average retest grab that liquidity and then the continuation

In the 4-hour time frame, you will also, notice that we also had the same sort of w formation playing out on the chart that we did as of right now you can see from previous price analysis we had this beautiful W formation range that and then we, of course, had that continuation back and then the pullback and right now we are in the same sort of situation you will see on Ethereum at the 3617$ region we have the same sort of price analysis my apologies for swimming too far ahead but you can see we have the same price analysis right here on the 4-hour time frame, we had a beautiful W formation just like that and now we are looking for that continuation

A few things that I have noticed in the chart which is why I'm being a little bit more cautious if of course Ethereum does end up breaking above $3683 and closing above that level then this would be an invalidation Zone and that would mean that Ethereum is ready for an all-time high if Ethereum though does end up failing to break Above This Zone then yes we are still focusing into the $2,800 region this, of course, would just mean the fact that we were looking for a smaller pullback after a major corrective move and of course, that means that we did see Ethereum drop from 4,000$ down into the 3K region

This is something that I am being very cautious about as well as the fact that of course you can see that this week we do have go another fed meeting coming up on Friday we have Powell speech and that means that we will see Market volatility and me personally like I said this current range that is lining up is looking for a very crucial Zone if you do want to take any sort of long positions you ideally just want to take some scalping opportunities into $3683 and then locking in those profits nice scalp opportunity into this range but we want to be very cautious with holding trades as of right now until $3683 ends up playing but that's pretty much