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Bitcoin, Ethereum, Axie Infinity Price Analyses
Bitcoin, Ethereum, Axie Infinity Price Analyses
Trading

Bitcoin, Ethereum, Axie Infinity Price Analyses

By R.L. Bryer - 2 Dec 2021

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Bitcoin analysis  

Bitcoin’s price continues to bump up against two important overhead resistances. Bitcoin bulls are trying to break $58,372 on the 4HR chart and eclipse $59,262 to leave its current range behind. 

The BTC/USD 4HR chart below from Issaxlj shows the integral levels to bitcoin’s price short term. The 38.2 [$57k] is being tested as support by bitcoin bears and overhead at 0 [$59,3k] bitcoin bulls are trying to cause a major breakthrough to the upside. 

 

Bitcoin analysis
Bitcoin bulls are trying to cause a major breakthrough to the upside

The Fear and Greed Index is 32 Fear and -2 from Tuesday’s reading of 34 Fear.

 

fear and greed index
Fear and Greed Index is still in Fear zone

BTC’s 24 hour price range is $56,749-$59,129 and its 7 day price range is $53,827-$59,206. Bitcoin’s 52 week price range is $18,857-$69,044. 

The price of bitcoin on this date last year was $18,857. 

The average price of BTC for the last 30 days is $60,597. 

Bitcoin [+0.55%] closed its daily candle worth $57,250 and has closed in green figures for four of the last five days.

Ethereum analysis 

Ether’s price cooled off a bit on Wednesday and reset its oscillators while the macro price action leveled off as well. Ether closed the day -$48.26. 

The ETH/USD 1D chart below JordonH shows overhead targets for bulls above the 1.618 [$4,562.65]. The first target for bullish traders above that level is 1 [$4,911.44] with a secondary target of 0.786 [$5,032.21] if the $5k level is breached for the first time in the asset’s history. 

Bearish Ether traders are hoping to again test the 1.618 and then successfully close below that level on the daily timescale. 

Ethereum analysis
Ether’s bullish traders want to push ETH close to $5,000

Ether’s price is only 5.8% away from testing it’s all-time high and potenitally entering price discovery again, at the time of writing. 

ETH’s 24 hour price range is $4,615-$4,783 and its 7 day price range is $4,021-$4,783. Ether’s 52 week price range is $541.28-$4,878. 

The price of ETH on this date in 2020 was $598.76.

The average price of ETH for the last 30 days is $4,446. 

Ether [-1.04%] closed its daily candle on Wednesday worth $4,582.96 breaking a streak of four straight closes in green digits. 

Axie analysis

AXIE’s price sold-off slightly on Wednesday and finished the day -$1.87. 

The AXIE/TetherUSD 4HR chart below from SaeedSalehinia illuminates AXIE’s overall bullish trend and the ascending channel that AXIE bulls hope to continue onward. If they’re successful in keeping the uptrend intact, AXIE bulls will hope to bounce off of the $130 level and head to the $170 level and the top of its channel again over time. 

Bearish AXIE traders on the other hand will hope to breach $130 and then $120 to the downside. If bears successfully push AXIE’s price lower than its been since early October, a longer correction could be in store. 

Axie analysis
AXIE’s ascending channel

AXS is +32,900% for the last 12 months against the U.S. Dollar, +10,800% against BTC, and +4,130% against ETH over the same duration. 

AXIE’s 24 hour price range is $135.01-$142.68 and its 7 day price range is $124.74-$143.52. AXIE’s 52 week price range is $.4-$164.9. 

AXIE’s price on this date last year was $.497. 

The average price of AXS over the last 30 days is $139.23. 

AXIE [-1.37%] closed Wednesday’s daily candle worth $135.01, that close broke a streak of four straight green daily candle closes. 

R.L. Bryer

Since 2009, the onset of the bitcoin network, R.L. Bryer has been covering the space. He is the author of Blockchain: Project Renaissance Volume I and II. He's also been the guest of countless bitcoin and cryptocurrency related podcasts throughout the world. Every opportunity, he speaks on or writes about Austrian Economics and how bitcoin is the world's preeminent money.

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