Bitcoin (30k), Ethereum (1.9k), Solana Price Analyses
Bitcoin (30k), Ethereum (1.9k), Solana Price Analyses
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Bitcoin (30k), Ethereum (1.9k), Solana Price Analyses

By R.L. Bryer - 30 May 2022

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Bitcoin Analysis 

Bitcoin’s price closed up over 1% for Saturday and Sunday’s daily sessions and BTC’s price closed the week’s final daily candle +$439 on Sunday. 

The first chart we’re going to analyze this week is the BTC/USD 1D chart below by knownAccount84951. BTC’s price is trading between the 0.618 fibonacci level [$25,886.79] and 0.5 [$30,145.80], at the time of writing. 

Bullish BTC traders are aiming to regain the $30k level and then the 0.5 fib level before bears can do more damage. If bullish traders are successful and claim the 0.5, their secondary target is 0.382 [$34,404.81]. Bullish traders have a third target overhead of 0.236 [$30,674.43].

Conversely, bearish traders are trying to put an end to the struggle between bullish and bearish traders between $28,5k-$31k. The path back to retest BTC’s 2017 all-time high just under $20k will first take bears back down to test the 0.618 fib level. If they succeed and can push BTC’s price below $25,8k their next target is BTC’s former high at the 0.786 [$19,823.12].

BTC/USD 1D chart: the price is trading between the 0.618 fibonacci level [$25,886.79] and 0.5 [$30,145.80]
The Fear and Greed Index is 10 Extreme Fear and is -4 from Sunday’s reading of 14 Extreme Fear. 

Fear and Greed
The Fear and Greed Index is 10 Extreme Fear

Bitcoin’s Moving Averages: 5-Day [$29,335.61], 20-Day [$31,614.31], 50-Day [$38,086.66], 100-Day [$39,276.04], 200-Day [$45,947.30], Year to Date [$39,509.64].

BTC’s 24 hour price range is $28,906-$29,519 and its 7 day price range is $28,448-$30,546. Bitcoin’s 52 week price range is $26,600-$69,044. 

The price of Bitcoin on this date last year was $35,615. 

The average price of BTC for the last 30 days is $32,122.2 and BTC’s -26.1% over the same duration. 

Bitcoin’s price [+1.51%] closed its daily candle worth $29,476 and in green figures for a second consecutive day on Sunday. 

Ethereum Analysis 

Ether’s price also rallied slightly over the weekend and finished Sunday’s daily candle +$21.30.  

The second chart we’re looking at today is the ETH/USD 1D chart below from olliecoughland. Ether’s price is trading between a full retracement at 0 [$1,706.79] and 0.236 [$2,475.47], at the time of writing. 

The bullish case is currently a bit bleak but if they’re going to stop the bleeding anytime soon they need to reclaim the 0.236 followed by 0.382 [$2,951.00], and 0.5 [$3,335.34]. 

Bearish Ether traders are currently in control of this market and should be testing the $1,400 level again soon if they can break the 0 fib level to the downside again. 

Ethereum Analysis 
ETH/USD 1D chart: the price is trading between a full retracement at 0 [$1,706.79] and 0.236 [$2,475.47]
ETH’s 24 hour price range is $1,768-$1,820 and its 7 day price range is $1,724-$2,073. Ether’s 52 week price range is $1,707-$4,878. 

Ether’s Moving Averages: 5-Day [$1,899.56], 20-Day [$2,207.64], 50-Day [$2,753.26], 100-Day [$2,793.03], 200-Day [$3,317.09], Year to Date [$2,829.14].

The price of ETH on this date in 2021 was $2,386.68.

The average price of ETH for the last 30 days is $2,238.83 and ETH’s -38.21% over the same timespan. 

Ether’s price [+1.19%] closed its daily candle on Sunday worth $1,813.52. 

Solana Analysis

Solana’s price followed the macro higher as well over the weekend and concluded its daily session on Sunday +$0.72. 

The third chart we’re analyzing today is the SOL/USD 1HR chart below from maikisch. We can see that Solana’s price is trading between 1 [$44.04] and 2 [$54.41], at the time of writing. 

The targets overhead for Solana bulls are the 2 fib followed by the 1.618 [$62.43].

Bearish traders have been controlling the market’s momentum for most of 2022 thus far. The primary target of bears is the 1 fib with the 1.382 fib level [$40.57] as a second target and a third target of 1.618 [$38.56].

SOL/USD 1HR chart: the price is trading between 1 [$44.04] and 2 [$54.41]
Solana’s 24 hour price range is $42.04-$45.43 and its 7 day price range is $40.52-$54.04. SOL’s 52 week price range is $36.35-$259.96. 

Solana’s price on this date last year was $35.83.

The average price of SOL over the last 30 days is $62.03 and SOL’s -54.38% over the same time frame. 

Solana’s price [+1.63%] closed its daily candle on Sunday worth $44.98 and in green figures for a second straight daily session. 

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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