Bitcoin, Ethereum, Alogrand Price Analyses
Bitcoin, Ethereum, Alogrand Price Analyses
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Bitcoin, Ethereum, Alogrand Price Analyses

By R.L. Bryer - 6 Apr 2022

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Bitcoin Analysis 

Bitcoin’s price sold-off during the day’s final 4HR candle and concluded its daily session -$1,130.1.

The first chart to analyze on today’s agenda is the BTC/USD 1D chart below from Satoshi_Nakaschwartzhouse. BTC’s price has been trading above the 0.236 fibonacci level [$41,556.83] on the daily timescale since the end of March and is now trying to successfully defeat bearish traders at the 0.382 fib level [$46,805.33].

The targets overhead for bullish BTC traders are 0.382, 0.5 [$51,047.27], and 0.618 [$55,289.21].

For those expecting downside for BTC’s price next, the targets are 0.236, and a full retracement back to 0 [$33,072.94].

Bitcoin Analysis
BTC/USD 1D chart: the price has been trading above the 0.236 fibonacci level [$41,556.83] on the daily timescale
The Fear and Greed Index is 48 Neutral and is -5 from Tuesday’s reading of 53 Neutral. 

Fear and Greed
Fear and Greed Index at 48 Neutral

Bitcoin’s Moving Averages: 5-Day [$46,433.65], 20-Day [$43,210.67], 50-Day [$41,475.30], 100-Day [$45,020.1], 200-Day [$46,364.8], Year to Date [$41,588.19].

BTC’s 24 hour price range is $45,635-$47,077 and its 7 day price range is $44,347-$47,651. Bitcoin’s 52 week price range is $29,341-$69,044. 

The price of bitcoin on this date last year was $58,706. 

The average price of BTC for the last 30 days is $42,579.5. 

Bitcoin’s price [-2.42%] closed its daily candle worth $45,481 and in red figures for the first time in three days. 

Ethereum Analysis 

On Tuesday, Ether’s price was pushed lower by bearish traders and ETH’s price was -113.36 after traders had settled up for the daily session. 

The second chart we’re looking at today is the ETH/USD 4HR chart below from ik05007. Ether’s price is trading between 0.786 [$3,303.59] and 1 [$3,577.66], at the time of writing. 

The primary target for bullish traders to the upside is the 1 fib level followed by 1.236 [$3,879.90] and a third target of 1.382 [$4,066.89]. 

Bearish Ether market participants are looking to defend the bottom of the current range at the $3,5k level and deny bulls any territory above the 1 fib level. If they’re successful at reversing the course of ETH’s price, the targets to the downside are 0.786, 0.618 [$3,088.43], and 0.5 [$2,937.31].

Ethereum Analysis 
ETH/USD 4HR chart: the price is trading between 0.786 [$3,303.59] and 1 [$3,577.66]
Ether’s Moving Averages: 5-Day [$3,436.73], 20-Day [$3,034.75], 50-Day [$2,889.86], 100-Day [$3,347.41], 200-Day [$3,292.04], Year to Date [$2,963.05].

ETH’s 24 hour price range is $3,421-$3,543 and its 7 day price range is $3,220-$3,559. Ether’s 52 week price range is $1,719-$4,878. 

The price of ETH on this date in 2021 was $2,097.8.

The average price of ETH for the last 30 days is $2,975.4. 

Ether’s price [-3.22%] closed its daily candle on Tuesday worth $3,407.03 and in red digits for the third time in three days.

Algorand Analysis

Algorand’s price sold-off by more than 5% for a second straight day and concluded its daily session -$0.049.

The third chart we’re looking at today is the ALGO/USD 1D chart below by CallMeBeginnerTheExplorer. ALGO’s price is trading between 0.786 [$0.855] and 0.618 [$0.994], at the time of writing. 

Looking overhead bullish ALGO traders are looking to snap the 0.618 with a secondary aim of 0.5 [$1.09] and a third target of 0.382 [$1.19].

Bearish ALGO traders are looking to push ALGO’s price below the 0.786 fib level then shift their focus to 1 [$0.678]. 

Algorand Analysis
ALGO/USD 1D chart: the price is trading between 0.786 [$0.855] and 0.618 [$0.994]
ALGO’s Moving Averages: 5-Day [$0.910], 20-Day [$0.826], 50-Day [$0.865], 100-Day [$1.203], 200-Day [$1.301], Year to Date [$0.991]. 

ALGO’s price is -33.31% against The U.S. Dollar for the last 12 months, -17.71% against BTC, and -60.99% against ETH over the same duration. 

Algorand’s 24 hour price range is $0.843-$0.898 and its 7 day price range is $0.843-$0.983. ALGO’s 52 week price range is $0.674-$3.56. 

Algorand’s price on this date last year was $1.40.

The average price of ALGO over the last 30 days is $0.816. 

Algorand’s price [-5.54%] closed its daily candle worth $0.834 on Tuesday and in red figures for a second straight day. 

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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