Ethereum Technical Analysis 03-12-21

Technical Analysis

Ethereum opens at $1.7K and goes up around to $1.7K and stable around $1.8K. The average transaction fee is $15.11 which is 1.88% decrease from 03-11-21. 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. Corrections are needed for the market. ETH increases its correlation with Stocks with a rather large increase. It appears that it enters 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!

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This is a reasonable gas price! Ethereum's correlation with Stock indicates that it becomes a neutral position.Price volatility may be reduced up until mid-day with price toward mid-level. Averse means you can use it as defense ???
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The average transaction fee is $15.11, a 1.88% decrease from last March 11-21.
The minimum gas fee should be $10 and build up to a $2K fee.
The area around $1,300 is a strong support for Ethereum.
Since the value is high, it may short-term correct since it is slowly grinding up and toward $2K after reaching $2K.
Estimated value is around $1500.
My method may be consulted here.
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This is a reasonable gas price! Ethereum's correlation with Stock indicates that it becomes a neutral position.
Price volatility may be reduced up until mid-day with price toward mid-level. Averse means you can use as defense ???
Price volatility may be reduced up until mid-day with price toward mid-level. Seeking means you can use as offense ??
Price volatility may be reduced up until mid-day with price toward mid-level. Neutral means no decision made and continue seeking opportunities ???
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A strong economy will help the Ethereum rise. A growing number of users will only help.Could it be PacketStream? There are rumours that Ethereum miners may face corrections due to high gas costs. In this week's summary of economic, market and financial news, here are some general comments. Thanks for reading. I'll see you tomorrow! Note: Cross-references of this article were made by the author and cross-referenced on multiple platforms. This information is only for educational purposes.