223
Technical Analysis
Ethereum opens at $2.5K and goes down around to $2.4K and stable around $2.5K. The average transaction fee is $4.18 which is 27.83% increase from 06-14-21. Ideally, gas fee should below $10 and it is low now.
Ethereum is strong support at around $1.7K as my analysis yesterday.
Short term correction may come since its valuation is high in my opinion in previous level. The valuation is around $1.7K to $2.0K. You can reference my method here. Gas fee is shoot up due to large value transaction in one day and continue to be expensive.
It seems Ethereum is heading corrections of tailwind and it has a hard time to adjust its valuation! However, it weathers the correction well.
Ethereum decreases its correlation with Dollar indicates that it becomes a offense position??. The price may fluctuate more in the coming day with price toward low-level.
The way Ethereum suddenly detached from Gold correlation is a huge warning that it may not be as stable as I expected in the future. In the historical context, what makes move opposite to Gold is fiat currency. I think evidently it does prove my hypothesis.
I remain my floor price to $1.7k indicates the strong support and remain the ceiling price at $3.0k.
As today, Ethereum Value = $1.7k ~ $3.0k and my position is Long.
Here are some highlights to support my analysis:
Current News Summary:
Most Bullish News ??
Ethereum 2.0 gain more attraction
It indicates that Ethereum may continue raising with more users
Most Bearish News ??
Crypto outflow continues
It indicates that Ethereum may face correction due to regulation concerns
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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 monthly Bitcoin and Ethereum analysis here ????:
Note:some links refer at the beginning of next month that include all previous month links of reports
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You can reference my previous daily Bitcoin analysis here ????:
Bitcoin Technical Analysis 06-01-21??
Bitcoin Technical Analysis 06-02-21??
Bitcoin Technical Analysis 06-03-21??
Bitcoin Technical Analysis 06-04-21??
Bitcoin Technical Analysis 06-05-21??
Bitcoin Technical Analysis 06-06-21??
Bitcoin Technical Analysis 06-07-21??
Bitcoin Technical Analysis 06-08-21??
Bitcoin Technical Analysis 06-09-21??
Bitcoin Technical Analysis 06-10-21??
Bitcoin Technical Analysis 06-11-21??
Bitcoin Technical Analysis 06-12-21??
Bitcoin Technical Analysis 06-13-21??
Bitcoin Technical Analysis 06-14-21??
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 06-01-21??
Ethereum Technical Analysis 06-02-21??
Ethereum Technical Analysis 06-03-21??
Ethereum Technical Analysis 06-04-21??
Ethereum Technical Analysis 06-05-21??
Ethereum Technical Analysis 06-06-21??
Ethereum Technical Analysis 06-07-21??
Ethereum Technical Analysis 06-08-21??
Ethereum Technical Analysis 06-09-21??
Ethereum Technical Analysis 06-10-21??
Ethereum Technical Analysis 06-11-21??
Ethereum Technical Analysis 06-12-21??
Ethereum Technical Analysis 06-13-21??
Ethereum Technical Analysis 06-14-21??
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You can reference my previous daily Dogecoin analysis here ????:
Doge Analysis 01-11-21??
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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????
Crytomarket Weekly Overview and Forecast 03-12-21 to 03-19-21????
Crytomarket Weekly Overview and Forecast 03-19-21 to 03-26-21????
Crytomarket Weekly Overview and Forecast 03-26-21 to 04-02-21????
Crytomarket Weekly Overview and Forecast 04-02-21 to 04-09-21????
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Check out my Ah moment here ????:
??Ah moment 05-31-21??
??Ah moment 06-02-21??
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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 cohttps://www.coindesk.com/price/bitcoinmpensation for it. I have no business relationship with any company whose cryptocurrencies are mentioned in this article. This information is only for educational purposes.
