Bitcoin (20k), Ethereum (1.1k), Solana Price Analyses
Bitcoin (20k), Ethereum (1.1k), Solana Price Analyses
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Bitcoin (20k), Ethereum (1.1k), Solana Price Analyses

By R.L. Bryer - 7 Jul 2022

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Bitcoin Analysis 

Bitcoin’s price bounced back on Wednesday and concluded its daily session +$388.1. Wednesday’s close marked three daily candle closes in green figures out of the last four days for Bitcoin.

The first chart we’re analyzing for Thursday is the BTC/USD 1D chart below from Unity-Trading-Group. BTC’s price is trading between 0.00% [$17,644.61] and 23.60% [$21,151.87]

The overhead targets for bullish BTC traders are the 23.60% fib level, 38.20% [$23,321.61], 50.00% [$25,075.24].

Traders expecting further downside next are targeting 0.00% [$17,644.61] and -27.20% [$13,602.35].

Bitcoin Analysis 
BTC/USD 1D chart: the price is trading between 0.00% [$17,644.61] and 23.60% [$21,151.87]
Bitcoin’s Moving Averages: 5-Day [$19,708.07], 20-Day [$21,531.69], 50-Day [$27,738.07], 100-Day [$34,604.61], 200-Day [$42,839.89], Year to Date [$36,275.64].

The Fear and Greed Index is 18 Extreme Fear and is even to Wednesday’s reading.

Fear and Greed
The Fear and Greed Index is 18 Extreme Fear

BTC’s 24 hour price range is $19,758-$20,665 and its 7 day price range is $18,817-$20,665. Bitcoin’s 52 week price range is $17,611-$69,044. 

The price of Bitcoin on this date last year was $33,886. 

The average price of BTC for the last 30 days is $22,585.1 and its -32.5% over the same duration. 

Bitcoin’s price [+1.92%] closed its daily candle worth $20,557.1 on Wednesday. 

Ethereum Analysis 

Ether’s price outperformed BTC’s price by over 2% on Wednesday and when traders settled up at the daily session’s close ETH was +$52.45. 

The second chart we’re analyzing today is the ETH/USD 2HR chart below by Hessinator. Ether’s price is trading between 0.618 [$1,172.19] and 0.786 [$1,219.84], at the time of writing. 

Bullish ETH market participants are looking to break the 0.786 fib level followed by a secondary target of 1 [$1,280.54].

Traders looking for further downside first want to push ETH’s price below the 0.618 fib level with a secondary target of 0.5 [$1,138.72] and a third target of 0.382 [$1,105.25]. The fourth target to the downside for ETH bears is 0.236 [$1.063.84].

Ethereum Analysis 
ETH/USD 2HR chart: the price is trading between 0.618 [$1,172.19] and 0.786 [$1,219.84]
Ether’s Moving Averages: 5-Day [$1,098.16], 20-Day [$1,194.34], 50-Day [$1,771.35], 100-Day [$2,359.27], 200-Day [$3,047.92], Year to Date [$2,524.21].

ETH’s 24 hour price range is $1,111.44-$1,205 and its 7 day price range is $1,010.15-$1,205. Ether’s 52 week price range is $883.62-$4,878. 

The price of ETH on this date in 2021 was $2,317.13.

The average price of ETH for the last 30 days is $1,259.99 and its -36.81% over the same time frame. 

Ether’s price [+4.63%] closed its daily candle on Wednesday worth $1,186.48 and in green figures for the fourth time over the last five days. 

Solana Analysis

Buyer’s also controlled Solana’s price action on Wednesday and SOL also closed its daily session up over 4% and +$1.62

Today’s third chart is the SOL/USD 1D chart below from AlanSantana. SOL’s price is trading between the 0.5 fib level [$34.43] and 0.618 [$36.45]

Solana bulls need to exceed the 0.618 fib level first before they can focus on regaining 0.786 [$39.33] and 1.236 [$47.03].

The downside targets for bearish Solana market participants are the 0.5 fib level with a secondary target of 0.382 [$32.41] and a third target of 0.236 [$29.92]. 

Solana Analysis
SOL/USD 1D chart: the price is trading between the 0.5 fib level [$34.43] and 0.618 [$36.45]
Solana’s Moving Averages: 5-Day [$34.34], 20-Day [$34.73], 50-Day [$48.46], 100-Day [$73.86], 200-Day [$121.32], Year to Date [$85.60].

Solana’s 24 hour price range is $34.8-$37.65 and its 7 day price range is $31.09-$37.65. Solana’s 52 week price range is $22.11-$259.96

Solana’s price on this date last year was $36.69. 

The average price of SOL over the last 30 days is $35.44 and its -5.78% over the same timespan. 

Solana’s price [+4.57%] closed its daily session on Wednesday worth $37.04. 

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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