Technical Analysis
Let's take a look at some key metrics.
It opens at $1.3K and goes down around to $1.4K and stable around $1.3K. The average transaction fee is $8.26 which is 2.13% decrease from 01-28-21.
Ethereum is resilience at around $1.3K as my analysis yesterday.
It is slowly grind up and toward $1.5K and short term correction may come.
Crypto Fear & Greed Index
Market is fluctuate but Ethereum is fairly stable.
I remain my floor price to $1.1k indicates the strong support and remain the ceiling price at $1.5k.
Ethereum Risk Forecast:
Ethereum increase its correlation with S&P 500 indicates that it becomes a neural position 👁️. The price may fluctuate more in the coming day with price toward mid-level. However, it was relatively stable.
Here is the position summary below:
As today, Ethereum Value = $1.1k ~ $1.5k and my position is Long.
Ethereum is stable and good way to hedge with uncertain market risk.
Daily Market Summary Dashboard:
All indicators look neutral and my position is long.
Weekly Ethereum Performance:
Ethereum price is continuing stable and grinding higher while minor correction may happen.
Most Bullish News 📈
Ethereum gas fee continues going down and improving
It indicates that Ethereum becomes more and more valuable in the long term.
Most Bearish News 📉
Reddit co-found flags Bitcoin on Twitter
It indicates that It may attract more regulatory scrutiny in the future.
Here are summary of general forecast of this week of economy and market:
Thanks for reading and see you tomorrow!
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You can reference my previous Bitcoin analysis here:
Bitcoin Technical Analysis 01-07-21📈
Bitcoin Technical Analysis 01-08-21📈
Bitcoin Technical Analysis 01-09-21📉
Bitcoin Technical Analysis 01-10-21📉
Bitcoin Technical Analysis 01-11-21📉
Bitcoin Technical Analysis 01-12-21📈
Bitcoin Technical Analysis 01-13-21📉
Bitcoin Technical Analysis 01-14-21📈
Bitcoin Technical Analysis 01-15-21📉
Bitcoin Technical Analysis 01-16-21📉
Bitcoin Technical Analysis 01-17-21📉
Bitcoin Technical Analysis 01-18-21📈
Bitcoin Technical Analysis 01-19-21📈
Bitcoin Technical Analysis 01-20-21📉
Bitcoin Technical Analysis 01-21-21📉
Bitcoin Technical Analysis 01-22-21📈
Bitcoin Technical Analysis 01-23-21📉
Bitcoin Technical Analysis 01-24-21📉
Bitcoin Technical Analysis 01-25-21📈
Bitcoin Technical Analysis 01-26-21📉
Bitcoin Technical Analysis 01-27-21📉
Bitcoin Technical Analysis 01-28-21📈
You can reference my Bitcoin methodology here and here.
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You can reference my previous Ethereum analysis here:
Ethereum Technical Analysis 01-07-21📈
Ethereum Technical Analysis 01-08-21📉
Ethereum Technical Analysis 01-09-21📈
Ethereum Technical Analysis 01-10-21📉
Ethereum Technical Analysis 01-11-21📉
Ethereum Technical Analysis 01-12-21📈
Ethereum Technical Analysis 01-13-21📉
Ethereum Technical Analysis 01-14-21📈
Ethereum Technical Analysis 01-15-21📉
Ethereum Technical Analysis 01-16-21📈
Ethereum Technical Analysis 01-17-21📉
Ethereum Technical Analysis 01-18-21📈
Ethereum Technical Analysis 01-19-21📈
Ethereum Technical Analysis 01-20-21📉
Ethereum Technical Analysis 01-21-21📉
Ethereum Technical Analysis 01-22-21📈
Ethereum Technical Analysis 01-23-21📈
Ethereum Technical Analysis 01-24-21📈
Ethereum Technical Analysis 01-25-21📈
Ethereum Technical Analysis 01-26-21📉
Ethereum Technical Analysis 01-27-21📉
Ethereum Technical Analysis 01-28-21📈
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You can reference my previous Dogecoin analysis here:
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You can reference my previous Cryptomarket forecast analysis here:
Crytomarket Weekly Overview and Forecast 01-15-21 to 01-22-21🔥🔥
Crytomarket Weekly Overview and Forecast 01-22-21 to 01-29-21🔥🔥
Disclosure: 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.
