Technical Analysis
Ethereum opens at $1.5K and goes flat around to $1.4K and stable around $1.5K. The average transaction fee is $14.85 which is 6.54% decrease from 02-26-21.
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 $1.40K. You can reference my method here. Healthy correction is needed for the market. Gas fee is extremely expensive!
Ethereum decreases its correlation with Dollar 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.
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 grinding higher while minor correction may happen.
Also, if you have any suggestions, please do not hesitate to let me know!
Thanks for reading and see you tomorrow!
