Technical Analysis
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 $11.66 which is 41.16% increase from 01-29-21.
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
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:
Ethereum increase its correlation with S&P 500 indicates that it becomes a defense 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:
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:
All indicators look neutral and my position is long.
Weekly Ethereum Performance:
Ethereum price is continuing stable and grinding higher while minor correction may happen.
Most Bullish News ??
It indicates that Ethereum becomes more and more valuable in the long term.
Most Bearish News ??
Privatizing profits of Ethereum from large fund
It indicates that it may try to dodge regulatory scrutiny in the future.
Here are summary of general forecast of this week of economy and market:
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??
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??
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You can reference my previous Dogecoin analysis here:
Doge Analysis 01-11-21??
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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????
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.
