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Bitcoin and Ethereum price in green digits, new ATH for Terra
Bitcoin and Ethereum price in green digits, new ATH for Terra
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Bitcoin and Ethereum price in green digits, new ATH for Terra

By R.L. Bryer - 22 Dec 2021

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Bitcoin price 

Bitcoin’s price continued a two-day rally on Tuesday and closed the day +$2,025.

The BTC/USD 4HR chart below from Smart_Cryptologistist shows the important levels for bitcoin on this timescale and the descending channel that BTC’s price is trying to break out of to the upside.

Overhead targets for BTC bulls are the 3 fib level [$51,880.74], 3.414 [$58,484.79], and the 3.618 [$61,738.96].

For bearish BTC traders, they’re aiming at breaking the 2.618 [$45,787.15] to the downside and sending BTC’s price back down to test the low $40k level. Those targets are the 2.414 [$42,532.98] and the 2.272 [$40,267.83].

Bitcoin price
Bitcoin is trying to break out the descending channel

The Fear and Greed Index is 45 Fear and +18 from Tuesday’s reading of 27 Fear. 

Fear and Greed
The Fear and Greed Index is in the Fear zone

Bitcoin’s most important moving averages are: 20-Day [$51,771.04], 50-Day [$57,698.47], 100-Day [$52,338.95], 200-Day [$48,519.14].

BTC’s 24-hour price range is $46,791-$49,365 and its 7-day price range is $45,723-$49,376. Bitcoin’s 52-week price range is $22,489-$69,044. 

The price of bitcoin on this date last year was $22,840. 

The average price of BTC for the last 30 days is $51,591. 

Bitcoin [+4.32%] closed its daily candle worth $48,923 and in green figures for a second straight day.

 

Ethereum analysis 

Ether’s price also climbed on Tuesday and closed on the day +$71.78.  

The ETH/USD 4HR chart below CryptoRamboxoxo shows Ether’s price again trying to reclaim the $4k level. If Ether bulls fail to hold the $4k level, they’ll hope that the 0.236 [$39,323] holds as support. If bears penetrate that level and send ETH’s price lower and below the 0.236 fib level, the next support for bulls is 0 [$3,640].

Conversely, if ETH bulls continue to the upside, they’ll next bump up against the 0.5 fib level [$4,258] with a secondary target of 0.618 [$4,404].

Ethereum analysis
Ether is trying to reclaim the $4k level

Ether’s still trading above the 100 and 200 Day Moving averages but below the lower timeframes: 20-Day [$4,198.63], 50-Day [$4,234.81], 100-Day [$3,750.00], 200-Day [$3,077.21].

ETH’s 24-hour price range is $3,932-$4,071, and its 7-day price range is $3,702-$4,094. Ether’s 52-week price range is $575.67-$4,878.26. 

The price of ETH on this date in 2020 was $610.43.

The average price of ETH for the last 30 days is $4,161.71. 

Ether [+1.82%] closed its daily candle on Tuesday worth $4,016.27 and has finished in green digits for back-to-back days. 

Terra Analysis

LUNA’s price made new all-time highs on Tuesday and closed its daily candle +$5.57.

The LUNA/USD 1D chart below from OxC0ffeBabe shows LUNA’s price busting out of an ascending channel that dates back to the end of November. 

Bullish traders sent LUNA’s price through 0[$80.09] and are now testing the -0.25 fib level [$89.97] as LUNA continues to make new all-time highs.

Bearish LUNA traders need to send LUNA’s price back below the $80 level and eventually retest the 0.382 [$64.98].

Terra Analysis
LUNA has been in an ascending channel since November

LUNA’s price is trading above all important moving averages: 20-Day [$62.44], 50-Day [$50.15], 100-Day [$36.86], 200-Day [$24.19].

Terra’s 24-hour price range is $80.23-$88.99, and its 7-day price range is $55.51-$88.99. Luna’s 52-week price range is $0.45-$88.99. 

Terra’s price on this date last year was $.50.

The average price for LUNA over the last 30 days is $62.06. 

Terra [+6.82%] closed its daily candle on Tuesday, worth $87.29. 

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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