Ethereum Technical Analysis 05-02-21

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Ethereum opens at $2.7K and goes down around to $2.7K and stable around $3.0K. The average transaction fee is $10.14 which is 1.20% increase from 05-01-21. Ideally, gas fee should below $10 and build up for another raise toward $3.0K since it has reached my target at $2.9K.

Ethereum is strong support at around $1.7K as my analysis yesterday.

It is slowly grind up and toward $3.0K after reach $2.9K 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 back to normal.

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!

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