Ethereum Technical Analysis 01-29-21

By xuanling11 | Crypto Learning | 29 Jan 2021


Technical Analysis

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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.

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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

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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:

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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:

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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:

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All indicators look neutral and my position is long.

Weekly Ethereum Performance:

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Ethereum price is continuing stable and grinding higher while minor correction may happen.

 

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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:

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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 01-07-21📈

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:

Doge Analysis 12-28-21📈

Doge Analysis 01-01-21📈

Doge Analysis 01-02-21📈

Doge Analysis 01-11-21📉

Doge Analysis 01-28-21📈

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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🔥🔥

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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.

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xuanling11
xuanling11

A delusional author who is possibly a nut job without any questions whatsoever about expertise in the subject matters to write with a freestyle.


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