Bitcoin, Ethereum, Solana Prices Rallied on Sunday
Bitcoin, Ethereum, Solana Prices Rallied on Sunday
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Bitcoin, Ethereum, Solana Prices Rallied on Sunday

By R.L. Bryer - 2 May 2022

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Bitcoin Analysis 

Bitcoin’s price received some bids during the day’s second 12HR candle and managed to close in green figures to finish the week’s final daily candle. BTC’s price finished Sunday’s daily session +$834.10.  

The first chart we’re leading off with today is the BTC/USD 1D chart below by Abdullaz_. BTC’s price is trading between the 0.5 fib level [$37,296.54] and 0.618 [$39,348.01], at the time of writing. 

The targets for bullish BTC traders overhead are 0.618, 1 [$43,949.72], and 1.618 [$51,394.38]. 

Conversely, bearish traders are looking to push BTC’s price below the 0.5 fib level followed by targets of 0.382 [$36,505.06], 0.236 [$34,746.29], and 0 [$31,903.35].

Bitcoin Analysis 
BTC/USD 1D chart: the price has been trading between the 0.5 fib level [$37,296.54] and 0.618 [$39,348.01]
The Fear and Greed Index is 28 Fear and is +6 from Sunday’s reading of 22 Extreme Fear. 

Fear and Greed
Fear and Greed Index is 28 Fear

Bitcoin’s Moving Averages: 5-Day [$39,163.75], 20-Day [$41,139.28], 50-Day [$41,427.55], 100-Day [$42,419.02], 200-Day [$47,069.83], Year to Date [$41,367.36].

BTC’s 24 hour price range is $37,664-$38,679 and its 7 day price range is $37,664-$40,606. Bitcoin’s 52 week price range is $29,341-$69,044. 

The price of bitcoin on this date last year was $56,600. 

The average price of BTC for the last 30 days is $41,314. 

Bitcoin’s price [+2.21%] closed its daily candle Sunday worth $38,496.1 and in green figures for the first time in three days. Bitcoin’s price closed April -14.29%. 

Ethereum Analysis 

Ether’s price rallied more than 3% on Sunday and concluded the week’s final candle +$98.54.  

The second chart we’re looking at today is the ETH/USD 4HR chart below from saifi476. ETH’s price is trading between the 1 fib level [$2,796.08] and 0.786 [$2,951.02], at the time of writing. 

Overhead targets for bullish traders are 0.786, 0.618 [$3,080.50], 0.5 [$3,171.45] and 0.382 [$3,262.39].

Bearish traders are trying to crack the 1 fib level followed by targets below that of 1.272 [$2,576.44], 1.414 [$2,467.00], and 1.618 [$2,309.77].

Ethereum Analysis
ETH/USD 4HR chart: the price has been trading between the 1 fib level [$2,796.08] and 0.786 [$2,951.02]
Ether’s Moving Averages: 5-Day [$2,889.13], 20-Day [$3,070.52], 50-Day [$2,948.78], 100-Day [$3,116.94], 200-Day [$3,378.89], Year to Date [$2,975.38].

ETH’s 24 hour price range is $2,732-$2,846 and its 7 day price range is $2,732-$3,016. Ether’s 52 week price range is $1,719-$4,878. 

The price of ETH on this date in 2021 was $2,953.

The average price of ETH for the last 30 days is $3,084.58. 

Ether’s price [+3.61%] closed its daily candle on Sunday worth $2,825.64 and snapped a streak of two straight closes in red digits. ETH’s price closed the month of April -14.14%. 

Solana Analysis

Solana’s price rallied greater than BTC’s price and ETH’s price on Sunday and closed the day up greater than 6%. SOL’s price closed Sunday’s daily session +$5.12. 

The last chart we’re analyzing for Monday is the SOL/USD 1W chart below by Fahrrr. This 1W chart is a copy of Ethereum’s fractal copied over Solana’s chart.

Traders can see that Solana’s price action over the last bull market mirrored Ether’s price action almost exactly from 2017’s bull market. 

If that trend continues the bottom on Solana could be around the $15 level during this bear market. This trend also sets up for the potential of Solana’s price to eclipse the $1,000 mark during the next bull market if the two projects don’t decouple in terms of price action. 

Solana Analysis
SOL/USD 1W chart: copy of Ethereum’s fractal copied over Solana’s chart.

Solana’s Moving Averages: 5-Day [$97.43], 20-Day [$106.45], 50-Day [$99.42], 100-Day [$118.06], 200-Day [$133.30], Year to Date [$107.69].

Solana’s 24 hour price range is $84.90-$92.30 and its 7 day price range is $84.90-$101.42. SOL’s 52 week price range is $21.46-$259.96

Solana’s price on this date last year was $46.93.

The average price of SOL over the last 30 days is $105.67. 

Solana’s price [+6.05%] closed its daily candle on Sunday worth $89.75 and in green figures for the first time in four days. Solana’s price closed April -26.78%.

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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