Technical Analysis
Let's take a look at some key metrics.
It opens at $1.3K and goes up around to $1.4K and stable around $1.1K. The average transaction fee is $7.50 which is 14.87% decrease from 01-20-21.
Ethereum is resilience at around $1.0K as my analysis yesterday but it was traded sideways.
Crypto Fear & Greed Index
As I mentioned yesterday, Etherem had another correction due to high transaction fees.
As the Ethereum drops, we want to exam if the transaction fee was efficient.
It is OK!
I revise my floor price to $1.1k indicates the strong support and revise the ceiling price at $1.4k.
As 01-20-21, Ethereum Value = $1.1k ~ $1.4k and my position is Long.
Here is the summary below:
Weekly Ethereum Performance:
Ethereum price starts diversion but has upward trending. Some minor correction will come but the price is resilient!
Most Bullish News ??
It indicates that Ethereum is continue legitimizing and improving.
Most Bearish News ??
Ethereum is more than commodity
It indicates that Ethereum may over value its price in long term but blur boundary spark speculation in the short term.
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??
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??
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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 analysis here:
Crytomarket Weekly Overview 1-8-21 to 1-15-21????
Disclosure: I/we have no positions in any cryptocurrencies mentioned, and no plans to initiate any positions within the next 72 hours. 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.
