Bitcoin (43k), Ethereum (3.2k) and Dogecoin Price Analyses
Bitcoin (43k), Ethereum (3.2k) and Dogecoin Price Analyses
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Bitcoin (43k), Ethereum (3.2k) and Dogecoin Price Analyses

By R.L. Bryer - 7 Apr 2022

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Bitcoin Analysis 

Bitcoin’s price bearishly engulfed the daily timescale on Wednesday and after traders had settled up for the daily session BTC’s price was -$2,282. 

The BTC/USD 1W chart below from BGMind_Control shows BTC’s price trying to hold the 21 Week EMA [$44,296.55]. BTC’s price lost that level on the daily timescale on Wednesday but still has until the end of the week to regain that level before Sunday’s weekly close at 12:00 UTC. 

If bearish traders of bitcoin succeed in cracking the 21 Week EMA to the downside then it’s possible that the next stop for bitcoin could be back to the neckline of its current structure at the $35k level.

btc 1w chart
BTC/USD 1W chart: the price is trying to hold the 21 Week EMA [$44,296.55]
The Fear and Greed Index is 34 Fear and is -14 from Wednesday’s reading of 48 Neutral. 

fear&greed index
Fear and Greed Index is 34 Fear

Bitcoin’s Moving Averages: 5-Day [$45,791.30], 20-Day [$43,318.86], 50-Day [$41,628.93], 100-Day [$44,859.66], 200-Day [$46,412.12], Year to Date [$41,624.45].

BTC’s 24 hour price range is $43,199-$45,877 and its 7 day price range is $43,199-$47,387. Bitcoin’s 52 week price range is $29,341-$69,044. 

The price of bitcoin on this date last year was $56,134. 

The average price of BTC for the last 30 days is $42,718.1. 

Bitcoin’s price [-5.02%] closed its daily candle worth $43,199 and in red figures for a second straight day.

Ethereum Analysis 

Ether’s price sold-off nearly 7% on Wednesday and concluded its daily session -$237.55. 

The second chart we’re looking at today is the ETH/USD 1D chart below by hulit.

Bullish Ether market participants are trying to regain and hold the 0.33 fib, followed by the $3,5k level and more specifically 0 fibonacci level before retesting the $4k level. 

Bearish ETH traders are conversely looking to push ETH’s price below the 0.33 fib level followed by targets of 0.5 [$3,033.01] and 0.66 [$2,873.85]. 

eth 1d chart
ETH/USD 1D chart: the price is traded between 0.33 and 0 fib level

Ether’s Moving Averages: 5-Day [$3,402.64], 20-Day [$3,061.49], 50-Day [$2,906.40], 100-Day [$3,337.30], 200-Day [$3,297.07], Year to Date [$2,967.17].

ETH’s 24 hour price range is $3,169-$3,442 and its 7 day price range is $3,169-$3,559. Ether’s 52 week price range is $1,719-$4,878. 

The price of ETH on this date in 2021 was $1,989. 

The average price of ETH for the last 30 days is $2,992.4. 

Ether’s price [-6.97%] closed its daily candle on Wednesday worth $3,169.48 and in red figures for a third consecutive day.

Dogecoin Analysis

Dogecoin’s price, which was up more than 5% at times on Wednesday, pulled back steeply during the day’s second 12 hour candle and closed its daily candle -$0.029. 

The third chart we’re analyzing today is the DOGE/USD 1D chart below from CryptoSoap. This chart shows DOGE’s price attempting to successfully break out of its descending channel. 

DOGE’s price was trading at the top of its channel at the 2.0 fib level [$0.172] before reversing during the daily session’s final hourly candles. 

The targets to the upside for bullish Dogecoin traders are 2.272 [$0.181], 2.414 [$0.185], and 2.618 [$0.192].  

Bearish DOGE traders are seeking a return to the bottom of its pattern at $0.10.

doge 1d chart
DOGE/USD 1D chart: the price is attempting to successfully break out of its descending channel

Doge’s Moving Averages: 5-Day [$0.149], 20-Day [$0.131], 50-Day [$0.135], 100-Day [$0.157], 200-Day [$0.200], Year to Date [$0.141].

Dogecoin’s 24 hour price range is $0.143-$0.173 and its 7 day price range is $0.133-$0.173. Dogecoin’s 52 week price range is $0.058-$0.731. 

Dogecoin’s price on this date last year was $0.058.

The average price of DOGE over the last 30 days is $0.129. 

Dogecoin’s price [-16.97%] closed worth $0.143 on Wednesday. Wednesday’s candle close in red digits was Doge’s first in four days.

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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