Bitcoin ($48k), Ethereum ($3.9k), Solana Price Analyses
Bitcoin ($48k), Ethereum ($3.9k), Solana Price Analyses
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Bitcoin ($48k), Ethereum ($3.9k), Solana Price Analyses

By R.L. Bryer - 23 Dec 2021

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Bitcoin Analysis 

Bitcoin’s price traded sideways for the bulk of Wednesday’s daily candle and finished the day marginally in red figures [-$297]. 

The BTC/USD 1D chart below from gsotolongo shows BTC’s price trying to confirm a breakout and backtest on that time frame.

BTC bulls are still trying to get a candle close above the 50.00% fib level [$49,250.51] and again reclaim the $50k level. If bulls successfully reclaim the $50k level, the next overhead target is the 38.20% fib level [$53,911.39].

From a bearish trader’s perspective, BTC bears need to withstand the current bullish momentum. If bears can withstand it, they’ll again try to test the 61.80% fib level [$44,589.63] and attempt to break that level and follow it with a daily candle close below it to push BTC’s price lower.

Bitcoin Analysis
BTC’s price is trying to confirm a breakout

The Fear and Greed Index is 34 Fear and -11 from yesterday’s reading of 45 Fear. 

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

Bitcoin’s moving averages are as follows: 20-Day [$51,381.42], 50-Day [$57,549.44], 100-Day [$52,437.46], 200-Day [$48,478.07], Year to Date [$47,365.8].

BTC’s 24-hour price range is $48,729-$49,876 and its 7-day price range is $45,723-$49,876. Bitcoin’s 52-week price range is $22,860-$69,044. 

The price of bitcoin on this date last year was $23,308. 

The average price of BTC for the last 30 days is $51,593. 

Bitcoin [-0.61%] closed its daily candle worth $48,626 and broke a streak of two straight daily candle closes in green figures.

Ethereum Analysis 

Ether’s traders also settled up in red digits on Wednesday, and ETH’s price finished the day -$36.8.

In the ETH/USD 1D chart below, Smart_Cryptologistist indicates that it’s decision time for Ether market participants. 

Ether bulls are hoping they can hold a long-term ascending channel and its trendline and send ETH’s price back above an important level of inflection at $4k. 

Bullish ETH traders have held the 0.786 fib level [$3,689.83] as support and are now seeking to take back to the 1 fib level [$4,237.37]. 

If bearish Ether traders succeed instead, they’ll need to test the 0.786 fib again and breach it to the downside before testing the 0.618 [$3,259.98]. 

 

Ethereum Analysis
Ether’s trends

Ether’s moving averages are as follows: 20-Day [$4,188.49], 50-Day [$4,244.48], 100-Day [$3,763.47], 200-Day [$3,088.42], Year to Date [$2,750.97].

ETH’s 24-hour price range is $3,995-$4,106, and its 7-day price range is $3,727-$4,106. 

Ether’s 52-week price range is $575.67-$4,878.26. 

The price of ETH on this date in 2020 was $587.96.

The average price of ETH for the last 30 days is $4,161.51. 

Ether [-0.92%] closed its daily candle on Wednesday, valued at $3,979.47.

Solana Analysis

Solana’s price finished -$1.32 on Wednesday and has closed in red figures for three of the last four days.

The SOL/USD 1D chart below from aria1382 shows Solana’s price is attempting to crack overhead resistance at the 0.236 fib level [$184.23]. If that level is cracked, then the next level bulls will attempt to reclaim is the 0.382 fib [$202.45].

Solana bears, conversely, are hoping to send SOL’s price again back down to re-test the 0 fib [$147.32] and, if possible, send SOL’s price back down to the $116 level. The $116 level could be the last line of defense for bulls before a trip back down to a two-figure SOL price.

 

Solana Analysis
Solana’s resistances

Solana’s moving averages are as follows: 20-Day [$190.71], 50-Day [$201.30], 100-Day [$159.82], 200-Day [$96.18], Year to Date [$77.48].

Solana’s 24-hour price range is $178.02-$187.62, and its 7-day price range is $169.15-$187.89. SOL’s 52-week price range is $1.16-$259.96. 

Solana’s price on this date last year was $1.21.

The average price for SOL over the last 30 days is $190.26. 

Solana [-0.73%] closed its daily candle on Wednesday, worth $178.37.

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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