Bitcoin (20K), Ethereum (1.1K) and Near Protocol price analyses
Bitcoin (20K), Ethereum (1.1K) and Near Protocol price analyses
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Bitcoin (20K), Ethereum (1.1K) and Near Protocol price analyses

By R.L. Bryer - 11 Jul 2022

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Bitcoin Analysis 

Bitcoin’s price failed to bullishly engulf the weekly timescale on Sunday after sellers controlled the last 12 hours of trading. When traders settled up at the session’s close on Sunday, BTC’s price was -$721.2.

The first chart we’re analyzing for Monday is the BTC/USD 1W chart below by Todopoderoso. BTC’s price is again testing the trendline of a nearly decade-long uptrend on the weekly timescale that dates back to 2013 at the time of writing. 

It’s also interesting to note that BTC’s price tested the 200W MA [$22,557] on the weekly time frame. It’s just below the 200W MA that BTC’s price failed to continue its ascent. So, bulls will need an increase in demand to break that level if they’re granted another opportunity soon.

Bitcoin Analysis
BTC/USD 1W chart: the price is again testing the trendline of a nearly decade-long uptrend

The Fear and Greed Index is 22 Extreme Fear and is -2 from Sunday’s reading of 24 Extreme Fear.  

Fear and Greed
The Fear and Greed Index is 22 Extreme Fear

Bitcoin’s Moving Averages: 5-Day [$20,816.81], 20-Day [$20,749.02], 50-Day [$27,042.90], 100-Day [$34,235.23], 200-Day [$42,600.72], Year to Date [$36,062.01].

BTC’s 24-hour price range is $20,669-$21,597 and its 7-day price range is $19,106-$22,109. Bitcoin’s 52-week price range is $17,611-$69,044. 

The price of Bitcoin on this date last year was $37,388. 

The average price of BTC for the last 30 days is $21,398.3, and it’s -30.5% over the same duration. 

Bitcoin’s price [-3.34%] closed its daily candle worth $20,856.6 and in red figures for a third consecutive day on Sunday. 

Ethereum Analysis 

Ether performed even more poorly during Sunday’s daily candle than BTC, and at the end of the day, ETH was -$49.58.

The second chart we’re looking at today is the ETH/USD 1D chart below by humbletradehut. ETH’s price is trading between the 0 Fibonacci level [$852.8] and 0.236 [$1,288.1] at the time of writing. 

Bullish traders are hoping they can again eclipse the 0.236 fib level after testing it again last week. If they succeed, the secondary target of bullish ETH market participants is 0.382 [$1,557.4]. The third target to the upside of the daily time frame for bulls is 0.5 [$1,775.]. 

Conversely, bearish ETH traders hope to rally themselves to the downside after rejecting bulls at 0.382. Bears are looking to retest 12-month lows and a full retrace at the 0 fib level. If they can again make another yearly low, bears will shift their focus to -0.27 [$354.8].

Ethereum Analysis 
ETH/USD 1D chart: the price is trading between the 0 Fibonacci level [$852.8] and 0.236 [$1,288.1]
Ether’s Moving Averages: 5-Day [$1,183.72], 20-Day [$1,146.11], 50-Day [$1,706.42], 100-Day [$2,327.60], 200-Day [$3,029.15], Year to Date [$2,505.39].

ETH’s 24-hour price range is $1,153-$1,219 and its 7-day price range is $1,050-$1,260. Ether’s 52-week price range is $883.62-$4,878. 

The price of ETH on this date in 2021 was $2,353.84. 

The average price of ETH for the last 30 days is $1,183.78, and it’s -34.30% over the same time frame.

Ether’s price [-4.07%] closed its daily candle on Sunday worth $1,167.35 and is back in red figures after finishing Saturday’s daily session in green figures. 

Near Analysis

Near Protocol’s price had the worst day of the lot covered for Monday’s price analyses, and NEAR finished Sunday -$0.27.

The third chart to kick off another week of new price analyses is the NEAR/USD 1W chart below from Babenski. NEAR’s price looks to potentially be forming a double-bottom on the weekly timescale the chartist posits. 

NEAR market participants who want to see further upside need to cling to and launch from the current trendline that dates back to November last year. They can focus on a more substantial rally to the upside if they’re successful.

Conversely, bearish traders of NEAR’s market are seeking to snap the same trendline and send NEAR’s price below that level for the first time in 36 weeks. If they successfully crack that support, then bullish traders will suffer further technical damage

Near Analysis
NEAR/USD 1W chart: the price looks to potentially be forming a double-bottom

Near Protocol’s Moving Averages: 5-Day [$3.55], 20-Day [$3.48], 50-Day $5.59], Year to Date [$8.87].

Near Protocol’s 24-hour price range is $3.5-$3.82, and its 7-day price range is $3.22-$3.84. NEAR’s 52-week price range is $1.54-$20.44. 

Near Protocol’s price on this date last year was $3.02. 

The average price of NEAR over the last 30 days is $3.57, and it’s -29.96% over the same timespan. 

NEAR’s price [-7.27%] closed its daily session on Sunday worth $3.52 and is back in red figures after posting a positive session on Saturday.

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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