Sirwin
Sirwin

Ethereum Technical Analysis 02-05-21

By xuanling11 | Crypto Learning | 6 Feb 2021


Technical Analysis

Ethereum opens at $1.6K and goes down around to $1.5K and stable around $1.6K. The average transaction fee is $23.08 which is 33.41% increase from 02-04-21.

Ethereum is strong support at around $1.3K as my analysis yesterday

It is slowly grind up and toward $1.8K and short term correction may come.

Ethereum decreases its correlation with Stock Market indicates that it becomes a defense position 🛡️. The price may fluctuate less in the coming day with price toward mid-level. However, it was relatively stable.

I raise my floor price to $1.3k indicates the strong support and remain the ceiling price at $1.6k.

As today, Ethereum Value = $1.3k ~ $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:

dca5eedaf0f08fea1dc96e4870e34b05c5475c8b79a05c8f58446459e21f6b66.png76a56c0fc6f67d48fbd7d34d3454b1686c4240ee8ba2a62fdfc27734fd425348.png3eceed16a1ed650362bce846c9f1abc08a2d4e667ed9ccd7e95dd8122f9f0984.png3173bcef15152ef8eeb90763ce5a806c123120cd98aea2c0db4f15432e0bbd99.pngd28860eba851be5351c536591bca475d6c03e4d9b05733d205fc949152a53a2b.png56ea25df370dbbc5a6c20838514c4eae18d81883de7fb167206a48be6d52706f.png81c870084770e6b75b95adbfe872e7910f6a57fc29cada10ca5aaaabf407d1b1.png110602854a35a21d5ce345b1bf31d02807df93f0488ede7dea3e4c44a3a4dacc.png3d44b034677da9a687b164839a933b151a47f1738f142dbff7dedd9965c5ac5c.png9c9a272441737a07434d2a77e0b45574d52f442156a7f1a2356b92d44cc4b183.pngcd27b01e6ebb68608dda5e06a29777917eb8881f7f4a22fc53de04e60cd6a87e.pngdbec8c44ead3119f4a91c4b0ea20860c587d7849bb79d1034b4abecce70d5da8.png

Here is the road map for today:

e61fc279806122fe5bed8c927e2b47bfbc9604c81476658bf16002ac32a135d0.png

14404f5247fb0704e38cfc8bf24bc91d627e09c038b71924ce55cf6316d695f5.png

Most Bullish News 📈

Ethereum miners make high profits

It indicates that Ethereum provides better opportunities to gain profits through mining.

Most Bearish News 📉

Billionairs start buying cryto crazy

It indicates that regulatory enforcement may get in or availability make dry up fast.

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


80d2ea03fb586d2fd138628eb99bf0757468df1a66e40b555558e2098a0d005f.png

669261adc0d3a11ac8f9ffebe3ae4a8cd613c2c35da4f833e63b427ebb76cf7f.png

893a5f1bf20990c72b5ac1ff130dfed604021aca01b7218d6c5e436906458d8b.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 01-07-21📈
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📈
Bitcoin Technical Analysis 01-29-21📈
Bitcoin Technical Analysis 01-30-21📉
Bitcoin Technical Analysis 01-31-21📉
Bitcoin Technical Analysis 02-01-21📈
Bitcoin Technical Analysis 02-02-21📈
Bitcoin Technical Analysis 02-03-21📈
Bitcoin Technical Analysis 02-04-21📉
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📈
Ethereum Technical Analysis 01-29-21📈
Ethereum Technical Analysis 01-30-21📈
Ethereum Technical Analysis 01-31-21📉
Ethereum Technical Analysis 02-01-21📈
Ethereum Technical Analysis 02-02-21📈
Ethereum Technical Analysis 02-03-21📈
Ethereum Technical Analysis 02-04-21📉
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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📈
Doge Analysis 02-04-21📈
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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🔥🔥
Crytomarket Weekly Overview and Forecast 01-29-21 to 02-05-21🔥🔥
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Risk forecast guideline:
Risk Averse means you can use Ethereum as defense 🛡️
Risk Seeking means you can use Ethereum as offense ⚔️
Risk Neutral means no decision made and continue seeking opportunities 👁️
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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

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