Bitcoin, Ethereum and Solana price downward
Bitcoin, Ethereum and Solana price downward
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Bitcoin, Ethereum and Solana price downward

By R.L. Bryer - 14 Dec 2021

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Bitcoin price downward

Bitcoin’s price closed Monday’s daily candle -$3,346 and below its 200-day moving average.  

The BTC/USD 4hr chart below from Nugacity_Fracedinous shows bitcoin’s price trending downward and with further downside potentially on the way as a Head & Shoulders pattern appears to be playing out. The pattern dates back to the beginning of this month and the chartist posits that the H&S pattern could take BTC’s price down to $42k soon. The chartist also believes BTC’s price at $42k implies the beginning of a bear market for bitcoin.

bitcoin price
Bitcoin’s price trend is going down

The Fear and Greed Index is 21 Extreme Fear and -7 from yesterday’s reading of 28 Fear.

The Fear and Greed Index is inExtreme Fear zone

Bitcoin’s most important moving averages are as follows: 20 Day MA [$54,190], 50 Day MA [$58,392], 100 Day MA [$51,902], 200 Day MA [$48,735]. 

BTC’s 24 hour price range is $46,001-$50,352 and its 7 day price range is $46,659-$51,855. Bitcoin’s 52 week price range is $19,076-$69,044. 

The price of bitcoin on this date last year was $19,259. 

The average price of BTC for the last 30 days is $55,407. 

Bitcoin [-6.68%] closed its daily candle worth $46,777 and in red digits to begin the new week. 

Ethereum Analysis 

Ether’s price sold off as well on Monday and fell below an inflection level it had been holding strong – the $4k level. ETH’s price closed its daily candle -$351.71.  

ETH falls down the $4k level

The ETH/USD 1D chart above from Rajesh_Ramchandani_Delta shows the most crucial objective for bullish Ether traders is to hold the .5 fib level [$3,783.54], at the time of writing. If bears are able to break that level they’ll soon turn their focus to the .382 fib level [$3,527.65] and look to inflict more pain by cracking that level. 

Ether’s most important moving averages are as follows: 20 Day MA [$4,250], 50 Day MA [$4,189, 100 Day MA [$3,671], 200 Day MA [$3,022].

ETH’s 24 hour price range is $3,695-$4,161 and its 7 day price range is $3,754-$4,458. Ether’s 52 week price range is $575.67-$4,878. 

The price of ETH on this date in 2020 was $585.54.

The average price of ETH for the last 30 days is $4,282. 

Ether [-8.51%] closed its daily candle on Monday worth $3,780.13 and in red figures breaking its streak of two green daily candles over the two preceding days.

Solana Analysis

Solana’s price trended lower on Monday with the vast majority of the market and closed the day -$17.71.

The SOL/USD 4hr chart below from culbert425 allows traders to visualize the bullish and bearish scenarios indicated by the chartist. 

For bullish traders, they’re attempting to hold the .5 fib level [$130.4] and hoping for a pivot there or before that level is reached. If bullish Solana traders are able to pivot soon they’ll next need to regain the .382 fib level [$161.06].

Bearish SOL traders conversely want to breach the .5 fib level and send Solana’s price lower to test double digits again at the 0.618 fib level [$99.75].

Bullish and bearish scenario for SOL

SOL’s most important moving averages are as follows: 20 Day MA [$200.76], 50 Day MA [$198.11], 100 Day MA [$151.08], 200 Day MA [$91.26]. 

Solana’s 24 hour price range is $149.71-$174.25 and its 7 day price range is $149.71-$203.2. Solana’s 52 week price range is $1.03-$259.96. 

Solana’s price on this date last year was $1.57.

The average price for SOL over the last 30 days is $205.43. 

Solana [-10.24%] closed its candle on Monday worth $155.2 after two consecutive daily candle closes in green digits.

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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