Technical Analysis
Let's take a look at some key metrics.
It opens at $1.3K and goes up around to $1.4K and stable around $1.1K. The average transaction fee is $7.50 which is 14.87% decrease from 01-20-21.
Ethereum is resilience at around $1.0K as my analysis yesterday but it was traded sideways.
Crypto Fear & Greed Index
As I mentioned yesterday, Etherem had another correction due to high transaction fees.
As the Ethereum drops, we want to exam if the transaction fee was efficient.
It is OK!
I revise my floor price toΒ $1.1k indicates the strong support and revise the ceiling price at $1.4k.
As 01-20-21, Ethereum Value = $1.1k ~ $1.4k and my position is Long.
Here is the summary below:
Weekly Ethereum Performance:
Ethereum price starts diversion but has upward trending. Some minor correction will come but the price is resilient!
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Most Bullish News π
It indicates that Ethereum is continue legitimizing and improving.
Most Bearish News π
Ethereum is more than commodity
It indicates that Ethereum may over value its price in long term but blur boundary spark speculation in the short term.
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Here are summary of general forecast of this week of economy and market:
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Thanks for reading and see you tomorrow!
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You can reference my previous Bitcoin analysis here:
Bitcoin Technical Analysis 01-07-21π
Bitcoin Technical Analysis 01-08-21π
Bitcoin Technical Analysis 01-09-21π
Bitcoin Technical Analysis 01-10-21π
Bitcoin Technical Analysis 01-11-21π
Bitcoin Technical Analysis 01-12-21π
Bitcoin Technical Analysis 01-13-21π
Bitcoin Technical Analysis 01-14-21π
Bitcoin Technical Analysis 01-15-21π
Bitcoin Technical Analysis 01-16-21π
Bitcoin Technical Analysis 01-17-21π
Bitcoin Technical Analysis 01-18-21π
Bitcoin Technical Analysis 01-19-21π
Bitcoin Technical Analysis 01-20-21π
You can reference my Bitcoin methodology here and here.
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You can reference my previous Ethereum analysis here:
Ethereum Technical Analysis 01-07-21π
Ethereum Technical Analysis 01-08-21π
Ethereum Technical Analysis 01-09-21π
Ethereum Technical Analysis 01-10-21π
Ethereum Technical Analysis 01-11-21π
Ethereum Technical Analysis 01-12-21π
Ethereum Technical Analysis 01-13-21π
Ethereum Technical Analysis 01-14-21π
Ethereum Technical Analysis 01-15-21π
Ethereum Technical Analysis 01-16-21π
Ethereum Technical Analysis 01-17-21π
Ethereum Technical Analysis 01-18-21π
Ethereum Technical Analysis 01-19-21π
Ethereum Technical Analysis 01-20-21π
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You can reference my previous Dogecoin analysis here:
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You can reference my previous Cryptomarket analysis here:
Crytomarket Weekly Overview 1-8-21 to 1-15-21π₯π₯
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Disclosure: I/we have no positions in any cryptocurrencies mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose cryptocurrencies are mentioned in this article. This information is only for educational purposes.