Ethereum Technical Analysis 03-08-21

Technical Analysis

Ethereum opens at $1.6K and goes up around to $1.7K and stable around $1.6K. The average transaction fee is $15.24 which is 35.83% increase from 03-07-21. 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 $1.5K. You can reference my method here. It is necessary for the market to undergo a healthy correction. This is a reasonable gas fee! Ethereum increases its correlation with Stock, which leads us to conclude that it becomes a neutral position. ???

Ethereum increases its correlation with Stock indicates that it becomes a neutral 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 magnified!

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!

In this week's forecast of the economy and market, I have outlined a general outlook below – feel free to suggest any additions or changes. Thank you for reading.

NOTE: This article has been cross-referenced on multiple platforms, and has been cross-referenced by the author.

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It indicates that Ethereum may continue raising with inflated price.

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Here are summary of general forecast of this week of economy and market:

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 ???? January 2021 Technical Analysis Summary ????
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Technical Analysis for Ethereum 03-05-21?
Bitcoin Technical Analysis 03-06-21?
Crytomarket Weekly Overview and Forecast, 2-19-21 to 226-21? for Saturday, July 21?
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You can reference my previous daily Ethereum analysis here ????:
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:Crytomarket Weekly Overview and Forecast for 01-22-21 through 01-29-21
Crytomarket Weekly Overview and Forecast for January 29 through February 5, 2012?
The Crytomarket Weekly Overview and Forecast for time periods between 05-21 to 12-21????
Issuance of a Crytomarket Weekly Forecast from 02-12-21 to 02-19-21????
Crytomarket Weekly Overview and Forecast, 2-19-21 to 226-21? 03-07-21??
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Ethereum increases its correlation with Stock suggests that it becomes a neutral position ??? In , . averse means to protect yourself.
You can use In , . Seeking as an offense?
? In , . neutral means finding opportunities ??? without making a decision ?
The article was written by myself and expresses my own opinions.
There is no compensation for it.
Neither I nor I have any business relationships with any of the companies mentioned in this article.
The purpose of this information is purely educational. 02-07-21??
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You can reference my previous weekly Cryptomarket forecast analysis here ????:
This represents a 35.83% increase in transaction fees from 03-07-21.
It is ideal for the gas fee to be below $10 and then be gradually increased to $2K.
Based on my analysis yesterday, I found Ethereum to be strong support around $1.3K.
My opinion is that it is slowly grinding up toward $2.1K after passing $2K, however, there may be some corrections in the short term, because its valuation is high.
There is an estimated valuation of $1.5K for the property.
The method I use can be viewed here.
Crytomarket Weekly Overview and Forecast 03-05-21 to 03-12-21????
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Ethereum increases its correlation with Stock suggests that it becomes a neutral position ???
In , . Averse means you can use as defense ???
In , . Seeking means you can use as offense ??
In , . Neutral means no decision made and continue seeking opportunities ???
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Disclosure: This suggests that the Ethereum value could continue rising, even with the current inflation. Most Bearish Do you like Honeygain? There is a sudden acceleration of Ethereum 2.0's price growthThis indicates that Ethereum is potentially going to be overpriced. This is a general economic forecast of this week: If you have any comments or suggestions, please don't hesitate to let me know! Is ???? This information is only for educational purposes.