🔎 Fundamental analysis (📈 Bullish)
The Ethereum team completed the Cancun-Deneb ("Dencun") upgrade after switching to proof-of-stake (PoS) 18 months ago. Shortly, this upgrade changed how data is stored on Ethereum, making it significantly more accessible and also cheaper to record layer 2 transactions.
👨🏻💻 Technical analysis (📈 Bullish)
On a daily timeframe, Ethereum is in an uptrend. There are gaps in the Guppy (GMMA) indicator between short-term EMA’s and long-term ones, with a bounce back on March 5th.
There’s no trend-reversal indicator appeared yet.
Let’s examine the Fib retracement indicator to determine additional purchase levels. During a correction, the 0.236 (3483$) and 0.382 (3111$) levels are two levels to consider. Consider shorting if the price breaks to 0.236 (3483$) with TP above 0.382 (3111$). Then, bouncing back to 0.236 (3483$) is expected with the following breakthrough.
3000$ level is considered a major support level and a psychological level.
💭 Sentiment analysis (📈 Bullish)
At this moment, the Fear and Greed Indicator is equal to 77/100 (Extreme Greed), and the Market Cap of the entire Crypto Market today (18th March) is $2.682 trillion. The Greed/Fear Index has decreased by 4 pips compared with the previous week which means the buyers are still greedy enough to maintain the current uptrend.
👥 Please share your thoughts or criticism about this idea in the comments below. Your opinion matters, and it'll be helpful for the community to understand a broader picture and shape a more objective vision of the asset's price
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Disclaimer:
The information provided is for educational purposes only and should not be considered financial advice. Trading carries risk, and past performance is not indicative of future results. Conduct your research before making any investment decisions
The Ethereum team completed the Cancun-Deneb ("Dencun") upgrade after switching to proof-of-stake (PoS) 18 months ago. Shortly, this upgrade changed how data is stored on Ethereum, making it significantly more accessible and also cheaper to record layer 2 transactions.
👨🏻💻 Technical analysis (📈 Bullish)
On a daily timeframe, Ethereum is in an uptrend. There are gaps in the Guppy (GMMA) indicator between short-term EMA’s and long-term ones, with a bounce back on March 5th.
There’s no trend-reversal indicator appeared yet.
Let’s examine the Fib retracement indicator to determine additional purchase levels. During a correction, the 0.236 (3483$) and 0.382 (3111$) levels are two levels to consider. Consider shorting if the price breaks to 0.236 (3483$) with TP above 0.382 (3111$). Then, bouncing back to 0.236 (3483$) is expected with the following breakthrough.
3000$ level is considered a major support level and a psychological level.
💭 Sentiment analysis (📈 Bullish)
At this moment, the Fear and Greed Indicator is equal to 77/100 (Extreme Greed), and the Market Cap of the entire Crypto Market today (18th March) is $2.682 trillion. The Greed/Fear Index has decreased by 4 pips compared with the previous week which means the buyers are still greedy enough to maintain the current uptrend.
👥 Please share your thoughts or criticism about this idea in the comments below. Your opinion matters, and it'll be helpful for the community to understand a broader picture and shape a more objective vision of the asset's price
----
Disclaimer:
The information provided is for educational purposes only and should not be considered financial advice. Trading carries risk, and past performance is not indicative of future results. Conduct your research before making any investment decisions
Hope you're enjoying the current discount and you're excited about free cash in the next few days