Bitcoin, Ethereum, Cardano Price Analyses
Bitcoin, Ethereum, Cardano Price Analyses
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Bitcoin, Ethereum, Cardano Price Analyses

By R.L. Bryer - 19 May 2022

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Bitcoin Analysis 

Bitcoin’s price closed its daily candle below the $29k level on Wednesday and BTC concluded its daily session -$1,762. 

The first chart we’re looking at today is the BTC/USD 4HR chart. That chart below from BobRivera990 shows that BTC’s price has been rejected multiple times at 0.5 [$31,895.41] and that overhead resistance seems to be implying further downside before any significant upside. 

The targets overhead for bullish BTC traders are 0.5, and 1 [$40,050.19]. 

Conversely, the targets to the downside of the 4HR chart for bearish BTC traders are 0 [$25,401.05], 1.236 [$22,812.98] and 1.5 [$20,229.04].

Bitcoin Analysis 
BTC/USD 4HR chart: the price has been rejected multiple times at 0.5 [$31,895.41]
The Fear and Greed Index is 13 Extreme Fear and is +1 from Wednesday’s reading of 12 Extreme Fear. 

Fear and Greed
The Fear and Greed Index is 13 Extreme Fear

Bitcoin’s Moving Averages: 5-Day [$29,579.45], 20-Day [$35,135.08], 50-Day [$39,576.08], 100-Day [$40,365.14], 200-Day [$46,533.61], Year to Date [$40,233.56].

BTC’s 24 hour price range is $28,766-$30,635 and its 7 day price range is $26,910-$31,319. Bitcoin’s 52 week price range is $26,600-$69,044. 

The price of Bitcoin on this date last year was $36,755. 

The average price of BTC for the last 30 days is $35,913.9 and BTC’s -25.7% over the same duration. 

Bitcoin’s price [-5.79%] closed its daily candle worth $28,680 and in red figures for the second time over the last three days. 

Ethereum Analysis 

Ether’s price also tumbled lower on Wednesday and ETH concluded its daily candle -$179.30. 

The ETH/USD 2W chart below by CryptoPatel shows the potential for the 0.5 fib level being near the level that ETH’s price finds a new low. 

Ether’s price is trading between 0.5 and 0 [$4,900.83], at the time of writing. 

The targets for bearish traders to the downside are 0.5 and 0.618 [$400.66]. 

Ethereum Analysis
ETH/USD 2W chart shows the potential for the 0.5 fib level

Ether’s Moving Averages: 5-Day [$2,009.26], 20-Day [$2,556.32], 50-Day [$2,861.57], 100-Day [$2,910.40], 200-Day [$3,359.89], Year to Date [$2,894.04].

ETH’s 24 hour price range is $1,911-$2,104 and its 7 day price range is $1,824-$2,156. Ether’s 52 week price range is $1,719-$4,878. 

The price of ETH on this date in 2021 was $2,435.65.

The average price of ETH for the last 30 days is $2,617.43 and ETH’s -33.47% over the same time frame. 

Ether’s price [-8.57%] closed its daily candle on Wednesday worth $1,911.83. 

Cardano Analysis

Cardano was the worst performer of today’s trio and sold-off by more than 12% during Wednesday’s daily session. ADA’s price finished Wednesday’s session -$0.073. 

The third chart we’re analyzing today is the ADA/USD 1D chart below from NapoleonEWT. ADA’s price is trading between 0.618 [$0.295] and 1 [$0.568], at the time of writing. 

If bearish ADA traders can continue to push ADA’s price lower, the primary target inside the descending broadening wedge is the 1.618 fib level [$0.295].

Cardano Analysis
ADA/USD 1D chart: the price is trading between 0.618 [$0.295] and 1 [$0.568]
Cardano’s Moving Averages: 5-Day [$0.53], 20-Day [$0.72], 50-Day [$0.89], 100-Day [$0.99], 200-Day [$1.51], Year to Date [$0.98].

Cardano’s 24 hour price range is $0.505-$0.583 and its 7 day price range is $0.408-$0.60. ADA’s 52 week price range is $0.40-$3.09.  

Cardano’s price on this date last year was $1.47.

The average price of ADA over the last 30 days is $0.75 and ADA’s -41.31% over the same timespan. 

Cardano’s price [-12.62%] closed its daily candle valued at $0.504 on Wednesday. 

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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