Ethereum Technical Analysis 04-08-21

By xuanling11 | Crypto Learning | 8 Apr 2021


Technical Analysis

Ethereum opens at $1.9K and goes flat around to $1.9K and stable around $2.0K. The average transaction fee is $18.50 which is 4.54% decrease from 04-07-21. 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.Β 

It is slowly grind up and toward $2.2K after reach $2.1K at all time high and short term correction may come since its valuation is high in my opinion. The valuation is around $1.5K.Β You can reference my method here. Gas fee is high as usual.

Ethereum decreases its correlation with Stock indicates that it becomes a neutral position πŸ‘οΈ. The price may fluctuate less in the coming day with price toward mid-level.

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.

Here are some highlights to support my analysis:

b695792d81cb4c29d92cf5cbbe156241c667671a221d2ce8fb033dde8f264fa9.png

Current News Summary:

14404f5247fb0704e38cfc8bf24bc91d627e09c038b71924ce55cf6316d695f5.png

Most Bullish News πŸ“ˆ

Ethereum layer 2 products to improve DeFi

It indicates that Ethereum may continue raising with more users

Most Bearish News πŸ“‰

DeFi hype may come down a bit in short term

It indicates that Ethereum may face correction due to improvement

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Here are summary of general forecast of this week of economy and market:
0356cb46d7b78a0364ba51e2786afccce041d1213fd1e10398d7855b362b3d8f.png

ad68c53708143566366a6f133cd92d680f193779e13442acf2fcde6a72305919.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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You can reference my previous monthly Bitcoin and Ethereum analysis here ⬇️⬇️:
πŸ’ͺπŸ’ͺ January 2021 Technical Analysis Summary πŸš€πŸš€
πŸ’ͺπŸ’ͺ February 2021 Technical Analysis Summary πŸš€πŸš€
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You can reference my previous daily Bitcoin analysis here ⬇️⬇️:
Bitcoin Technical Analysis 03-01-21πŸ“ˆ
Bitcoin Technical Analysis 03-02-21πŸ“ˆ
Bitcoin Technical Analysis 03-03-21πŸ“‰
Bitcoin Technical Analysis 03-04-21πŸ“ˆ
Bitcoin Technical Analysis 03-05-21πŸ“‰
Bitcoin Technical Analysis 03-06-21πŸ“ˆ
Bitcoin Technical Analysis 03-07-21πŸ“ˆ
Bitcoin Technical Analysis 03-08-21πŸ“ˆ
Bitcoin Technical Analysis 03-09-21πŸ“ˆ
Bitcoin Technical Analysis 03-10-21πŸ“ˆ
Bitcoin Technical Analysis 03-11-21πŸ“ˆ
Bitcoin Technical Analysis 03-12-21πŸ“ˆ
Bitcoin Technical Analysis 03-13-21πŸ“ˆ
Bitcoin Technical Analysis 03-14-21πŸ“‰
Bitcoin Technical Analysis 03-15-21πŸ“‰
Bitcoin Technical Analysis 03-16-21πŸ“ˆ
Bitcoin Technical Analysis 03-17-21πŸ“ˆ
Bitcoin Technical Analysis 03-18-21πŸ“‰
Bitcoin Technical Analysis 03-19-21πŸ“ˆ
Bitcoin Technical Analysis 03-20-21πŸ“‰
Bitcoin Technical Analysis 03-21-21πŸ“‰
Bitcoin Technical Analysis 03-22-21πŸ“‰
Bitcoin Technical Analysis 03-23-21πŸ“‰
Bitcoin Technical Analysis 03-24-21πŸ“‰
Bitcoin Technical Analysis 03-25-21πŸ“ˆ
Bitcoin Technical Analysis 03-26-21πŸ“ˆ
Bitcoin Technical Analysis 03-27-21πŸ“ˆ
Bitcoin Technical Analysis 03-28-21πŸ“ˆ
Bitcoin Technical Analysis 03-29-21πŸ“ˆ
Bitcoin Technical Analysis 03-30-21πŸ“ˆ
Bitcoin Technical Analysis 03-31-21πŸ“ˆ
Bitcoin Technical Analysis 04-01-21πŸ“‰
Bitcoin Technical Analysis 04-02-21πŸ“‰
Bitcoin Technical Analysis 04-03-21πŸ“‰
Bitcoin Technical Analysis 04-04-21πŸ“‰
Bitcoin Technical Analysis 04-05-21πŸ“‰
Bitcoin Technical Analysis 04-06-21πŸ“‰
Bitcoin Technical Analysis 04-07-21πŸ“ˆ
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 03-01-21πŸ“ˆ
Ethereum Technical Analysis 03-02-21πŸ“ˆ
Ethereum Technical Analysis 03-03-21πŸ“‰
Ethereum Technical Analysis 03-04-21πŸ“ˆ
Ethereum Technical Analysis 03-05-21πŸ“‰
Ethereum Technical Analysis 03-06-21πŸ“ˆ
Ethereum Technical Analysis 03-07-21πŸ“ˆ
Ethereum Technical Analysis 03-08-21πŸ“ˆ
Ethereum Technical Analysis 03-09-21πŸ“ˆ
Ethereum Technical Analysis 03-10-21πŸ“‰
Ethereum Technical Analysis 03-11-21πŸ“ˆ
Ethereum Technical Analysis 03-12-21πŸ“ˆ
Ethereum Technical Analysis 03-13-21πŸ“ˆ
Ethereum Technical Analysis 03-14-21πŸ“‰
Ethereum Technical Analysis 03-15-21πŸ“‰
Ethereum Technical Analysis 03-16-21πŸ“ˆ
Ethereum Technical Analysis 03-17-21πŸ“ˆ
Ethereum Technical Analysis 03-18-21πŸ“‰
Ethereum Technical Analysis 03-19-21πŸ“ˆ
Ethereum Technical Analysis 03-20-21πŸ“‰
Ethereum Technical Analysis 03-21-21πŸ“‰
Ethereum Technical Analysis 03-22-21πŸ“‰
Ethereum Technical Analysis 03-23-21πŸ“‰
Ethereum Technical Analysis 03-24-21πŸ“‰
Ethereum Technical Analysis 03-25-21πŸ“ˆ
Ethereum Technical Analysis 03-26-21πŸ“ˆ
Ethereum Technical Analysis 03-27-21πŸ“ˆ
Ethereum Technical Analysis 03-28-21πŸ“ˆ
Ethereum Technical Analysis 03-29-21πŸ“ˆ
Ethereum Technical Analysis 03-30-21πŸ“ˆ
Ethereum Technical Analysis 03-31-21πŸ“ˆ
Ethereum Technical Analysis 04-01-21πŸ“ˆ
Ethereum Technical Analysis 04-02-21πŸ“ˆ
Ethereum Technical Analysis 04-03-21πŸ“‰
Ethereum Technical Analysis 04-04-21πŸ“‰
Ethereum Technical Analysis 04-05-21πŸ“‰
Ethereum Technical Analysis 04-06-21πŸ“‰
Ethereum Technical Analysis 04-07-21πŸ“ˆ
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You can reference my previous daily Dogecoin analysis here ⬇️⬇️:
Doge Analysis 12-28-21πŸ“ˆ
Doge Analysis 01-01-21πŸ“ˆ
Doge Analysis 01-02-21πŸ“ˆ
Doge Analysis 01-11-21πŸ“‰
Doge Analysis 01-28-21πŸ“ˆ
Doge Analysis 02-04-21πŸ“ˆ
Doge Analysis 02-07-21πŸ“ˆ
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You can reference my previous weekly Cryptomarket forecast analysis here ⬇️⬇️:
Crytomarket Weekly Overview and Forecast 01-22-21 to 01-29-21πŸ”₯πŸ”₯
Crytomarket Weekly Overview and Forecast 01-29-21 to 02-05-21πŸ”₯πŸ”₯
Crytomarket Weekly Overview and Forecast 02-05-21 to 02-12-21πŸ”₯πŸ”₯
Crytomarket Weekly Overview and Forecast 02-12-21 to 02-19-21πŸ”₯πŸ”₯
Crytomarket Weekly Overview and Forecast 02-19-21 to 02-26-21πŸ”₯πŸ”₯
Crytomarket Weekly Overview and Forecast 02-26-21 to 03-05-21πŸ”₯πŸ”₯
Crytomarket Weekly Overview and Forecast 03-05-21 to 03-12-21πŸ”₯πŸ”₯
Crytomarket Weekly Overview and Forecast 03-12-21 to 03-19-21πŸ”₯πŸ”₯
Crytomarket Weekly Overview and Forecast 03-19-21 to 03-26-21πŸ”₯πŸ”₯
Crytomarket Weekly Overview and Forecast 03-26-21 to 04-02-21πŸ”₯πŸ”₯
Crytomarket Weekly Overview and Forecast 04-02-21 to 04-09-21πŸ”₯πŸ”₯
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Risk forecast guideline:
Risk Averse means you can use as defense πŸ›‘οΈ
Risk Seeking means you can use as offense βš”οΈ
Risk Neutral means no decision made and continue seeking opportunities πŸ‘οΈ
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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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