Posts

Ethereum Technical & Sentimental Analysis 07-24-21

avatar of @xuanling11
25
xuanling11
@xuanling11
·
·
0 views
·
1 min read

Technical Analysis

Ethereum opens at $2.0K. It hits lowest at $2.0K and highest at $2.2K and stable around $2.1K. The average transaction fee is $6.50 which is 22.64% increase from 07-23-21. Fear and Greed level is at 40.

Here are some highlights to support my analysis: As today, Ethereum Value = $1.7k ~ $2.5k and my position is Long. Today’s sentimental news and comments:

Bullish News 📈

Ethereum 2.0 is continuing to attract more funds flow in. It is a bet for the future. Although it will not be a solution for all, it creates competition for already saturated and powerful nodes that inflated the gas fee. Ethereum networks have scaled too fast and too greedy that it has reached to the point where nodes are too powerful to dominate and they create inflation for transaction fees. Think about the internet which has too much traffic to slow the user to browse the internet, users may leave to seek faster speed from other internet providers.

Bearish News 📉

Both Bitcoin and Ethereum are doing better than ETFs? I am not sure about Bitcoin but Ethereum did do better as it has reached 195% from the beginning of 2021.

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