Ethereum Technical Analysis 03-13-21

By xuanling11 | Crypto Learning | 13 Mar 2021


Technical Analysis

Ethereum opens at $1.7K and goes up around to $1.7K and stable around $1.9K. The average transaction fee is $18.14 which is 20.05% increase from 03-12-21. Ideally, gas fee should below $10 and build up for another raise toward $2K.

Ethereum is strong support at around $1.5K as my analysis yesterday

It is slowly grind up and toward $2.1K after reach $2K and short term correction may come since its valuation is high in my opinion. The valuation is around $1.5K. You can reference my method here. Healthy correction is needed for the market. Gas fee is expensive!

Ethereum increases its correlation with Stock indicates that it becomes a offense position ⚔️ The price may fluctuate less in the coming day with price toward mid-level. However, it was relatively stable. However, its sentiment has changed and risk is reduced! Ethereum risk has changed again from detaching stock market to track gold. Risk is still there but it may hit All Time High in the coming week.

I remain my floor price to $1.3k indicates the strong support and remain the ceiling price at $1.7k.

As today, Ethereum Value = $1.3k ~ $1.7k and my position is Long.

Ethereum price is continuing stable and back to $1.5K with reasonable gas fees!

 

Here are some highlights to support my analysis:

26cb68cfec3f5a202e8ac2d3fb53d9baa78444ad19e5fecd31bea069cda9c111.pngaa01acb1c7ca88de9a8dbf4d4e06f5268b76582e4f035db49f2519aaebb6882c.png

Here is the road map for today:

463ec41f2fcb28c715313334111bd90613d3315c391b8b4e4d9db4aaa8e239e1.png

14404f5247fb0704e38cfc8bf24bc91d627e09c038b71924ce55cf6316d695f5.png

Most Bullish News 📈

Crypto can be payment for Hotels

It indicates that Ethereum may continue raising with expansion of users

Most Bearish News 📉

Off chain era has began

It indicates that Ethereum may face correction due to high gas fees on chain.

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Here are summary of general forecast of this week of economy and market:
5d3bf4f78a96cd6a47431645cc737ce645742a3b21151c2826253084fc9f92e9.png815436eba86da184a403f18f10678625792097d3e7ee2a9a9853a6a65de909c7.png

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

Thanks for reading and see you tomorrow!

b318bdad571e4de7cfc20ee27ba4f1c718de9a3e8c1218637d9ed2a3121ad50b.png

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Note: Cross-references of this article has created by author and has cross-referenced on multiple platforms. You can find links below ⬇️⬇️:
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You can reference my previous monthly Bitcoin and Ethereum analysis here ⬇️⬇️:
💪💪 January 2021 Technical Analysis Summary 🚀🚀
💪💪 February 2021 Technical Analysis Summary 🚀🚀
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You can reference my previous daily Bitcoin analysis here ⬇️⬇️:
Bitcoin Technical Analysis 03-01-21📈
Bitcoin Technical Analysis 03-02-21📈
Bitcoin Technical Analysis 03-03-21📉
Bitcoin Technical Analysis 03-04-21📈
Bitcoin Technical Analysis 03-05-21📉
Bitcoin Technical Analysis 03-06-21📈
Bitcoin Technical Analysis 03-07-21📈
Bitcoin Technical Analysis 03-08-21📈
Bitcoin Technical Analysis 03-09-21📈
Bitcoin Technical Analysis 03-10-21📈
Bitcoin Technical Analysis 03-11-21📈
Bitcoin Technical Analysis 03-12-21📈
You can reference my Bitcoin methodology here and here.
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You can reference my previous daily Ethereum analysis here ⬇️⬇️:
Ethereum Technical Analysis 03-01-21📈
Ethereum Technical Analysis 03-02-21📈
Ethereum Technical Analysis 03-03-21📉
Ethereum Technical Analysis 03-04-21📈
Ethereum Technical Analysis 03-05-21📉
Ethereum Technical Analysis 03-06-21📈
Ethereum Technical Analysis 03-07-21📈
Ethereum Technical Analysis 03-08-21📈
Ethereum Technical Analysis 03-09-21📈
Ethereum Technical Analysis 03-10-21📉
Ethereum Technical Analysis 03-11-21📈
Ethereum Technical Analysis 03-12-21📈
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You can reference my previous daily 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📈
Doge Analysis 02-07-21📈
💸💸 Get your free 🐶🐶 Dogecoin 🐶🐶 here 💵 and here 💵
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You can reference my previous weekly Cryptomarket forecast analysis here ⬇️⬇️:
Crytomarket Weekly Overview and Forecast 01-22-21 to 01-29-21🔥🔥
Crytomarket Weekly Overview and Forecast 01-29-21 to 02-05-21🔥🔥
Crytomarket Weekly Overview and Forecast 02-05-21 to 02-12-21🔥🔥
Crytomarket Weekly Overview and Forecast 02-12-21 to 02-19-21🔥🔥
Crytomarket Weekly Overview and Forecast 02-19-21 to 02-26-21🔥🔥
Crytomarket Weekly Overview and Forecast 02-26-21 to 03-05-21🔥🔥
Crytomarket Weekly Overview and Forecast 03-05-21 to 03-12-21🔥🔥
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Risk forecast guideline:
Risk Averse means you can use as defense 🛡️
Risk Seeking means you can use 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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