Technical Analysis
Let's take a look at some key metrics.
It opens at $1.4K and goes around to $1.4K and stable around $1.2K. The average transaction fee is $8.81 which is 47.82% increase from 01-19-21.
Ethereum is resilience at around $1.2K as my analysis yesterday. However, I think it will trade it sideways from here.
Ethereum is resilience and better than Bitcoin in short term.
Crypto Fear & Greed Index
As I mentioned yesterday, Bitcoin price stable around $1.2K ~ $1.3K and there maybe another correction coming due to high transaction fees.
I revise my floor price to $33K indicates the support and remain the ceiling price at $40K.
As 01-20-21, Ethereum Value = $1.2k ~ $1.5k and my position is Long.
Here is the summary below:
Most Bullish News ??
Ethereum optimistic price target at $10,500
It indicates that Ethereum has some room to continue rallying.
Most Bearish News ??
Ethereum gas fee is high
It indicates that high transaction fees will bring down price in coming days.
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??
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??
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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.