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ETHEREUM $1700 PRICE TARGET EXPLAINED!! Ethereum Price Prediction 2022 & Ethereum News Today (ETH)

Read MoreWelcome back to the cryptobot channel everyone my name is josh and right now the price of ethereum is testing a very important line of supports and if we see a confirmed break below this price level we could head straight down towards this price target so i'll be talking more about that in just a moment definitely stick around.

First of all taking a look at the daily ethereum chart and right now at the time of recording this video the price of ethereum is testing this 78.6 fibonacci level which is coming in between around 2.1 k to 2.2 k and basically in order to confirm a break below this level we need to see at least a daily candle close below around 2.1 k and at the time of.

Recording this video the next daily candle close is in around four hours from now and if you're zooming out to the three-day ethereum chart technically speaking we still have this active price target coming in at around 1 700 due to this bare flag pattern that is technically still in play and so as i've already been saying a lot recently on.

The channel in my recent ethereum update videos if we see a confirmed break below that 78.6 fibonacci level then that would significantly increase our probability of the ethereum price reaching 1 700 per ethereum because once again that is the technical price target for this bare flag pattern and also we already know that we have a lot of.

Support at around 1 700 as we've seen during 2021 with that triple bottom last year at around 1 700. and while we're on the three-day time frame taking a look at the three-day ethereum rsi this is getting very close to oversold territories which could potentially be an opposite signal to these signals up here when the rsi gets a rejection from.

This line of resistance so basically if we see the three-day ethereum rsi continue lower into oversold territories like what we saw back in january then technically speaking that could be a bullish signal for ethereum at least in the somewhat shorter term like what we saw back in january for example but keep in mind at the time of recording this.

Video we're not in oversold territories on the three-day chart just yet but we are getting close and now taking a quick look at the bitcoin dominance which is currently exploding due to the collapse in lunar which has of course resulted in a lot of other alt coins to head down today and so due to this explosion in the bitcoin dominance that is.

Technically a bearish signal for ethereum versus bitcoin in the shorter term and in case you are new to this channel if ethereum vs bitcoin is going down then that means ethereum is under performing against bitcoin and at the time of recording in this video we're actually seeing the daily rsi and the daily macd start flipping a little bit.

More bearish again for the ethereum vs bitcoin chart which means we could potentially resume in this previous bearish trend especially if we confirm a lower high in the ethereum versus bitcoin chart but of course i'll continue to update you on this every day in these videos on this channel and in real time over on my twitter so if you.

Have not followed me over there make sure you're doing that and the link is down below in the description but anyway this is just a quick ethereum update video today because ethereum hasn't done all that much since yesterday so i'm not going to sit here and waste your time but if you want to maximize your profits in crypto even if prices are going down.

Then these videos popping up right here on your screen are definitely for you to watch because in both of these videos i reveal how i continue to make money in crypto no matter what prices are doing but anyway that is everything that i have to say for today i really hope you enjoyed and i'll see you all in the next video.

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