Ethereum Technical Analysis 02-04-21

By xuanling11 | Crypto Learning | 4 Feb 2021


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Fun fact: Did you know that I purposely chose thumbnail image color to reflect each daily sentiment of the crypto market?

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Technical Analysis

Ethereum opens at $1.6K and goes down around to $1.5K and stable around $1.5K. The average transaction fee is $17.30 which is 7.39% increase from 02-03-21.

Ethereum is srong support at around $1.3K as my analysis yesterday.ย 

It is slowly grind up and toward $1.7K and short term correction may come.

Ethereum decreases its correlation with Dollar, Gold and Stock Market indicates that it becomes a defense position ๐Ÿ›ก๏ธ. The price may fluctuate less in the coming day with price toward mid-level. However, it was relatively stable.

I remain my floor price to $1.2k indicates the strong support and remain the ceiling price at $1.6k.

As today, Ethereum Value = $1.2k ~ $1.6k and my position is Long.

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

Here are charts to support my analysis:

da59596f3df2d966d4c8ee5fa05d05fc597669d491621fb6aa4dabb7afeba7c3.pngd48159c76918c3bc6e1b55071e47642a5b34168553eebc2008d704dbd94f38f5.pngcbbc5b939cccf11a330c34e0ff0e0db941b5109668b26c09e25eb632e373b7a3.png1cb869fea1a84a20cc8ef0dc6a6e9be6fcdadfb332143e6a4696f7d7b27067c2.pngd1e607cde1601ef3a9c450544436f1cc013d76f00220bfadc30d93e0577155fc.png4ef5cc1c2c178da4f3c9629878d33a4e0cd881b22e71beeacf2303d8055f17eb.png9bcf358d1d088bdcd665449964cd775219101606aa8992e4d5095613d5e0a947.png8887762ca1c9a61b2f75ffa5a39dd79a3b299a782a9b1cb0570220031e4ad983.png8371124028e01ce1c7b8b22d0b157cceb38dba3ea0eb4d2dd1b734b1ba81448a.png2eb44bc79ea78751da72e160da03bab0eb076f900789f01beaf7f6e432097251.pngb547682358a7f7e32747b5ff04cd5f7eb7d99a1cc12c06754c9681eb4ad94193.png6c3aadd181416dd998071a1d0910a33f3339109fa08d55741404ade289ab0dc5.png

Here is the road map for today:

9673c5e176c3b588fa803ccd78e84e463b61f95d1a339f22bc39b8bc19b0bf52.png

14404f5247fb0704e38cfc8bf24bc91d627e09c038b71924ce55cf6316d695f5.png

Most Bullish News ๐Ÿ“ˆ

Ethereum fees increase but with its valuation

It indicates that Ethereum staking works.

Most Bearish News ๐Ÿ“‰

Ethereum 2.0 staking error

It indicates that Ethereum still needs improve.

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Here are summary of general forecast of this week of economy and market:

d69799e5c89078f2b20d9ef0b04cc6f3d614c810943613f37ccc79eb9d3d328d.png

4b1580ead9777d8df0e373d0eb61c55899eb42290a7f361eae7f406110c435e1.png

893a5f1bf20990c72b5ac1ff130dfed604021aca01b7218d6c5e436906458d8b.png

If you want to support my works, you can click like bottom below and tip more! Great Thanks!

88f2df56c92a6afe62d3fe71d10e985e95fdb8d79b62b4ef65dffa1d6a0368b7.png

Also, if you have any suggestions, please do not hesitate to let me know!

Thanks for reading and see you tomorrow!

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You can reference my previous Bitcoin analysis here:
Bitcoin Technical Analysis 01-07-21๐Ÿ“ˆ
Bitcoin Technical Analysis 01-08-21๐Ÿ“ˆ
Bitcoin Technical Analysis 01-09-21๐Ÿ“‰
Bitcoin Technical Analysis 01-10-21๐Ÿ“‰
Bitcoin Technical Analysis 01-11-21๐Ÿ“‰
Bitcoin Technical Analysis 01-12-21๐Ÿ“ˆ
Bitcoin Technical Analysis 01-13-21๐Ÿ“‰
Bitcoin Technical Analysis 01-14-21๐Ÿ“ˆ
Bitcoin Technical Analysis 01-15-21๐Ÿ“‰
Bitcoin Technical Analysis 01-16-21๐Ÿ“‰
Bitcoin Technical Analysis 01-17-21๐Ÿ“‰
Bitcoin Technical Analysis 01-18-21๐Ÿ“ˆ
Bitcoin Technical Analysis 01-19-21๐Ÿ“ˆ
Bitcoin Technical Analysis 01-20-21๐Ÿ“‰
Bitcoin Technical Analysis 01-21-21๐Ÿ“‰
Bitcoin Technical Analysis 01-22-21๐Ÿ“ˆ
Bitcoin Technical Analysis 01-23-21๐Ÿ“‰
Bitcoin Technical Analysis 01-24-21๐Ÿ“‰
Bitcoin Technical Analysis 01-25-21๐Ÿ“ˆ
Bitcoin Technical Analysis 01-26-21๐Ÿ“‰
Bitcoin Technical Analysis 01-27-21๐Ÿ“‰
Bitcoin Technical Analysis 01-28-21๐Ÿ“ˆ
Bitcoin Technical Analysis 01-29-21๐Ÿ“ˆ
Bitcoin Technical Analysis 01-30-21๐Ÿ“‰
Bitcoin Technical Analysis 01-31-21๐Ÿ“‰
Bitcoin Technical Analysis 02-01-21๐Ÿ“ˆ
Bitcoin Technical Analysis 02-02-21๐Ÿ“ˆ
Bitcoin Technical Analysis 02-03-21๐Ÿ“ˆ
You can reference my Bitcoin methodology here and here.
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You can reference my previous Ethereum analysis here:
Ethereum Technical Analysis 01-07-21๐Ÿ“ˆ
Ethereum Technical Analysis 01-08-21๐Ÿ“‰
Ethereum Technical Analysis 01-09-21๐Ÿ“ˆ
Ethereum Technical Analysis 01-10-21๐Ÿ“‰
Ethereum Technical Analysis 01-11-21๐Ÿ“‰
Ethereum Technical Analysis 01-12-21๐Ÿ“ˆ
Ethereum Technical Analysis 01-13-21๐Ÿ“‰
Ethereum Technical Analysis 01-14-21๐Ÿ“ˆ
Ethereum Technical Analysis 01-15-21๐Ÿ“‰
Ethereum Technical Analysis 01-16-21๐Ÿ“ˆ
Ethereum Technical Analysis 01-17-21๐Ÿ“‰
Ethereum Technical Analysis 01-18-21๐Ÿ“ˆ
Ethereum Technical Analysis 01-19-21๐Ÿ“ˆ
Ethereum Technical Analysis 01-20-21๐Ÿ“‰
Ethereum Technical Analysis 01-21-21๐Ÿ“‰
Ethereum Technical Analysis 01-22-21๐Ÿ“ˆ
Ethereum Technical Analysis 01-23-21๐Ÿ“ˆ
Ethereum Technical Analysis 01-24-21๐Ÿ“ˆ
Ethereum Technical Analysis 01-25-21๐Ÿ“ˆ
Ethereum Technical Analysis 01-26-21๐Ÿ“‰
Ethereum Technical Analysis 01-27-21๐Ÿ“‰
Ethereum Technical Analysis 01-28-21๐Ÿ“ˆ
Ethereum Technical Analysis 01-29-21๐Ÿ“ˆ
Ethereum Technical Analysis 01-30-21๐Ÿ“ˆ
Ethereum Technical Analysis 01-31-21๐Ÿ“‰
Ethereum Technical Analysis 02-01-21๐Ÿ“ˆ
Ethereum Technical Analysis 02-02-21๐Ÿ“ˆ
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You can reference my previous Dogecoin analysis here:
Doge Analysis 12-28-21๐Ÿ“ˆ
Doge Analysis 01-01-21๐Ÿ“ˆ
Doge Analysis 01-02-21๐Ÿ“ˆ
Doge Analysis 01-11-21๐Ÿ“‰
Doge Analysis 01-28-21๐Ÿ“ˆ
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You can reference my previous Cryptomarket forecast analysis here:
Crytomarket Weekly Overview and Forecast 01-15-21 to 01-22-21๐Ÿ”ฅ๐Ÿ”ฅ
Crytomarket Weekly Overview and Forecast 01-22-21 to 01-29-21๐Ÿ”ฅ๐Ÿ”ฅ
Crytomarket Weekly Overview and Forecast 01-29-21 to 02-05-21๐Ÿ”ฅ๐Ÿ”ฅ
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Risk forecast guideline:
Risk Averse means you can use Ethereum as defense ๐Ÿ›ก๏ธ
Risk Seeking means you can use Ethereum as offense โš”๏ธ
Risk Neutral means no decision made and continue seeking opportunities ๐Ÿ‘๏ธ
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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
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