Ethereum Technical Analysis 03-06-21

Technical Analysis

Ethereum opens at $1.5K and goes flat around to $1.5K and stable around $1.6K. The average transaction fee is $11.22 which is 0.81% increase from 03-05-21. Ideally, gas fee should below $10 and build up for another raise toward $2K.

Ethereum is strong support at around $1.3K 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 $1.45K. You can reference my method here. It is essential to have healthy corrections in the market. Gas is not costly very much.Ethereum's relationship to Dollar decreases over time as it becomes a defensive position.

Ethereum decreases its correlation with Dollar indicates that it becomes a offense position ??. The price may fluctuate less in the coming day with price toward mid-level. However, it was relatively stable.

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!

Here is my overall forecast of the economy and the markets for this week as summarized in the following: If you have any suggestions, please do not hesitate to let me know! Thank you for reading and I hope to see you tomorrow!

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This represents an increase of 0.81% compared to 03-05-21.
As soon as it falls below $10, it should get another boost up to $2K.
My analysis yesterday indicates that Ethereum could be strong support at around $1.3K.
After $2K has been reached, it has slowly grinded up and is certainly favored toward $2.1K, so a short-term correction is also likely since its valuation is high in my opinion.
It is worth around $1,45K.
Crytomarket Weekly Overview and Forecast 02-26-21 to 03-05-21????
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For the market to remain healthy, healthy corrections are needed.
This is a reasonable gas fee! The fact that it drops in correlation with the Dollar indicates that it becomes a good offensive position ?? Averse means you can use as defense ???
This is a reasonable gas fee! The fact that it drops in correlation with the Dollar indicates that it becomes a good offensive position ?? Seeking means you can use as offense ??
This is a reasonable gas fee! The fact that it drops in correlation with the Dollar indicates that it becomes a good offensive position ?? Neutral means no decision made and continue seeking opportunities ???
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Disclosure: A gas fee alternative indicates that Ethereum may go up with improvement. The most Bearish News ?? Adbank code and Blade ???. This could indicate Ethereum's stock may plummet after overpricing. The following provides an overview of this week’s market and economic forecast: As well, if you have any suggestions, do not hesitate to contact me!What's up, Midoin? This information is only for educational purposes.