Bitcoin ($50k), Ethereum ($4k), Chainlink Price Analyses
Bitcoin ($50k), Ethereum ($4k), Chainlink Price Analyses
Trading

Bitcoin ($50k), Ethereum ($4k), Chainlink Price Analyses

By R.L. Bryer - 28 Dec 2021

Chevron down
Listen this article
download

Bitcoin Analysis 

Bitcoin’s price has been trading in an extremely narrow range over the last five days; in fact, BTC’s price has closed within a $378 window over that span. 

The BTC/USD 4HR chart below from AlanSantana shows BTC bulls trying to now flip the 0.786 fib level [$50,800] to support resistance while also taking aim more than $5,300 higher. That overhead target is the 1.618 fib level [$56,190.67]. 

Bearish BTC traders are conversely trying to push BTC’s price back below 0.786 and back below $50k at the 0.618 fib level [$49,575.61]. If bears have their way at that level, a secondary target for bearish traders below is the 0.382 fib level [$48,014.46]. 

 

Bitcoin Analysis

Bitcoin targets for bullish and bearish traders

The Fear and Greed Index is 41 Fear and +1 from Sunday’s reading of 40 Fear. 

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

The most important BTC Moving Averages are as follows: 20-Day [$50,489.49], 50-Day [$56,990.79], 100-Day [$52,680.81], 200-Day [$48,392.99], Year to Date [$47,409.80].

BTC’s 24-hour price range is $50,546-$52,050 and its 7-day price range is $47,046-$52,050. Bitcoin’s 52-week price range is $25,923-$69,044. 

The price of bitcoin on this date last year was $27,125. 

The average price of BTC for the last 30 days is $50,466. 

Bitcoin [-0.22%] closed its daily candle worth $50,684 and in red figures to close the week after finishing Saturday in green figures.

Ethereum Analysis 

Ether’s price closed Sunday’s daily candle -$24.93, but ETH’s price still finished above an important level of inflection at $4k.

An important chart for Ether market participants currently is the ETH/USD 1W chart, and there’s an interpretation of this timescale below from Skookum_

Traders will note that ETH’s price is currently ranging between the 0.382 fib level [$3,658.31] and the 0.236 fib level [$4,120.96]. Above the 0.236 fib level, bulls are setting their sights on 0 [$4,868.79]. 

From a bearish trader’s perspective, ETH bears want to snap the 0.382 fib [$3,658.31] and test lower prices at the 0.50 fib [$3,284.39].

Ethereum Analysis
Ether could test lower prices

Ether’s most important moving averages are: 20-Day [$4,151.54], 50-Day [$4,262.61], 100-Day [$3,798.45], 200-Day [$3,123.52], Year to Date [$2,766.66].

ETH’s 24-hour price range is $4,041-$4,129, and its 7-day price range is $3,934-$4,157. Ether’s 52-week price range is $713.72-$4,878. 

The price of ETH on this date in 2020 was $732.96.

The average price of ETH for the last 30 days is $4,128. 

Ether [-0.61%] closed its daily candle on Sunday worth $4,036.24 and in red figures for a second straight day.

Chainlink Analysis

LINK’s price finished Sunday’s daily candle +$.02, and bullish LINK traders have seized some momentum back from bearish traders over the last week. 

The LINK/USD 1D chart below from EdgarTigranyan allows traders to visualize the most important levels for Chainlink traders between the $20-$30 range.

Bullish LINK traders are trying to hold the 38.20% fib level [$22.79] and then reclaim the 50.00% fib level [$25.74]. If bulls are successful at that level, they’ve got a secondary target of the 61.80% fib level [$28.7] and a third target at the 65.00% fib level [$29.50].

The targets below for bearish LINK traders begin firstly with breaking the 38.20% fib level with a secondary target of the 23.60% fib level [$19.17]. The third target below for LINK bears is 0.00% [$13.23] and a full retracement from LINK’s breakout – this level will only be achieved if bears are able to break a long-term trendline to the downside.

Chainlink Analysis
Chainlink most important levels

Another LINK chart for traders to consider is the LINK/USD 1W chart from Crypto_Burger. The chart shows LINK’s price respecting a long-term trendline that’s part of an ongoing ascending channel that dates back to 2018.

Chainlink Analysis

LINK’s price is trading below all important moving averages except for the 20-Day, at the time of writing: 20-Day [$21.08], 50-Day [$26.37], 100-Day [$26.47], 200-Day [$27.27], Year to Date [$26.73].

Chainlink’s 24-hour price range is $22.93-$24.42, and its 7-day price range is $18.48-$24.42. LINK’s 52-week price range is $11.05-$52.7. 

LINK’s price on this date last year was $12.67.

The average price of Chainlink over the last 30 days is $21.14. 

LINK [+0.09%] closed its daily candle on Sunday worth $22.99 and in green figures for a third consecutive daily close.

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.

We use cookies to make sure you can have the best experience on our site. If you continue to use this site we will assume that you are happy with it.