Is Ethereum in a Bear Market or do Bulls Still Have a Chance?

More Crypto Online

18 Oct 202506:13

Summary

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Q & A

What is the key support level for Ethereum mentioned in the video?
-The key support level for Ethereum mentioned in the video is $3,374. This is a crucial level to watch, as a break below it could raise doubts about further upside potential.
What does a break below the $3,374 level signify for Ethereum's price?
-A break below the $3,374 level wouldn't fully rule out further upside continuation, but it would make the market outlook more uncertain. It would also lead to the addition of alternative structures on the chart.
Why is there a focus on the 50% retracement level?
-The 50% retracement level is significant because as long as Ethereum holds this level and does not experience a decisive break below it, there's no confirmation that a major top has formed in the market.
What is the potential target price range for Ethereum mentioned in the video?
-The potential target price range for Ethereum mentioned in the video is between $5,200 and $5,800. These levels represent the next upside targets, with $5,800 being seen as a more healthy fifth wave target.
What is the significance of the five-wave move in Elliot Wave theory as discussed in the video?
-In Elliot Wave theory, a five-wave move is crucial because it signifies a series of higher highs and higher lows, confirming that a meaningful low has been established. Without this five-wave structure, any movement is considered a corrective bounce.
Why hasn't the Friday low been confirmed as a meaningful low yet?
-The Friday low hasn't been confirmed as a meaningful low because there hasn't been a five-wave move up from that point. The market has only seen a three-wave move, which is insufficient to confirm a true reversal.
What is the role of resistance levels in confirming a reversal?
-Resistance levels play a key role in confirming a reversal. The video suggests that if Ethereum breaks above the resistance level around $3,952, it could signal that the market is moving into a new phase, potentially confirming a five-wave move and a reversal.
How does the market sentiment look based on the current structure?
-The market sentiment is fragile, with the current structure not showing clear bullish trends. There is no clear confirmation that the market has turned around, and another low remains a possibility.
What does the speaker say about volatility in the crypto market?
-The speaker mentions that the crypto market is volatile, and anyone who can't handle the fluctuations should reconsider their involvement. The market has already seen a 30% decline, which is within the scope of a typical correction.
What additional resources are available for members, according to the video?
-Members can access additional resources such as a Discord server with live charts, updates on various assets like gold, silver, altcoins, and stocks, as well as educational material. The community also provides live streams for more in-depth market analysis.