Ethereum Technical Analysis 04-16-21

Ethereum opens at $2.4K and goes up around to $2.5K and stable around $2.4K. The average transaction fee is $16.59 which is 12.82% decrease from 04-15-21. Ideally, gas fee should below $10 and build up for another raise toward $2.7K.

Ethereum is strong support at around $1.5K as my analysis yesterday.

It is slowly grind up and toward $2.3K after reach $2.5K at all time high 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. Gas fee is high as usual.

Ethereum decreases its correlation with Gold indicates that it becomes a neutral position 👁️. The price may fluctuate less in the coming day with price toward mid-level.

I raise my floor price to $1.5k indicates the strong support and raise the ceiling price at $2.5k.

As today, Ethereum Value = $1.5k ~ $2.5k and my position is Long.

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

Thanks for reading and see you tomorrow!

Posted Using LeoFinance ^Beta