Ethereum Technical Analysis 03-14-21

Ethereum opens at $1.8K and goes up around to $1.8K and stable around $1.9K. The average transaction fee is $19.37 which is 6.78% increase from 03-13-21. 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.

It is slowly grind up and toward $2.1K after reach $2K and short term correction may come since its valuation is high in my opinion. The valuation is around $1.5K. You can reference my method here. Healthy correction is needed for the market. Gas fee is expensive!

Ethereum increases its correlation with Stock indicates that it becomes a defense position 🛡️ The price may fluctuate less in the coming day with price toward mid-level. However, it was relatively stable. However, its sentiment has changed and risk is reduced! Ethereum risk has changed again from detaching stock market to track gold. Risk is still there but it may hit All Time High in the coming week.

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.

Ethereum price is continuing stable and back to $1.5K with reasonable gas fees!

Also, if you have any suggestions, please do not hesitate to let me know!

Thanks for reading and see you tomorrow!