Bitcoin, Ethereum, Elrond price analyses
Bitcoin, Ethereum, Elrond price analyses
Trading

Bitcoin, Ethereum, Elrond price analyses

By R.L. Bryer - 13 Jul 2022

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Bitcoin Analysis 

On Tuesday, bulls again failed to put an end to incessant selling pressure from bearish traders and BTC’s price concluded its daily session -$634.5. BTC’s price also closed below $19,891 which is an important level of inflection dating back to BTC’s all-time high of 2017. 

We’re leading-off Wednesday’s price analyses with bitcoin as always and the BTC/USD 4HR chart below by Emvo10. BTC’s price is trading between the 1 fibonacci level [$17,520.00] and 0.786 [$23,236.16], at the time of writing. 

Traders expecting or hoping for upside on BTC firstly are aiming for 0.786, followed by 0.618 [$29,002.46], and 0.5 [$33,888.58].

Bearish traders are conversely looking to push BTC’s price below a 12-month low at the 1 fibonacci level with a secondary target of 1.618 [$14,151.96]. The third target for bearish traders is the 1.272 fib level [$12,236.79].

Bitcoin Analysis 
BTC/USD 4HR chart: the price is trading between the 1 fibonacci level [$17,520.00] and 0.786 [$23,236.16]
Bitcoin’s Moving Averages: 5-Day [$20,803.91], 20-Day [$20,496.59], 50-Day [$26,326.35], 100-Day [$33,886.62], 200-Day [$42,299.71], Year to Date [$35,828.79].

The Fear and Greed Index is 15 Extreme Fear and is -1 from Tuesday’s reading of 16 Extreme Fear.

Fear and Greed
The Fear and Greed Index is 15 Extreme Fear

BTC’s 24 hour price range is $19,216-$20,038 and its 7 day price range is $19,216-$22,109. Bitcoin’s 52 week price range is $17,611-$69,044. 

The price of Bitcoin on this date last year was $32,727. 

The average price of BTC for the last 30 days is $20,810.4 and its -31.7% over the same time frame. 

Bitcoin’s price [-3.18%] closed its daily candle worth $19,310.5 and in red figures for a fifth consecutive day on Tuesday. 

Ethereum Analysis 

Ether’s price traded lower at close than at open again on Tuesday and concluded its daily candle -$57.82.  

The second chart we’re looking at for Tuesday is the ETH/USD 1HR chart below from Hessinator. ETH’s price is trading between the 0.236 fibonacci level [$1,063.84] and 0.382 [$1,105.25], at the time of writing.

Bullish Ether market participants are trying to hold off bears at or above the 0.236 fib level before a potential rally. The targets to the upside for bullish ETH traders are 0.382, 0.5 [$1,138.72], and 0.618 [$1,172.19]. 

At variance with bulls are bearish ETH traders that want to crack the 0.236 fib level and again push ETH’s price below the $1k level. The third target for bearish traders to the downside of the 1HR chart is a full retracement at 0 [$996.90].

Ethereum Analysis 
ETH/USD 1HR chart: the price is trading between the 0.236 fibonacci level [$1,063.84] and 0.382 [$1,105.25]

Ether’s Moving Averages: 5-Day [$1,169.29], 20-Day [$1,134.80], 50-Day [$1,638.35], 100-Day [$2,297.73], 200-Day [$3,005.64], Year to Date [$2,484.91].

ETH’s 24 hour price range is $1,033-$1,098 and its 7 day price range is $1,033-$1,260. Ether’s 52 week price range is $883.62-$4,878. 

The price of ETH on this date in 2021 was $1,940.99. 

The average price of ETH for the last 30 days is $1,149.52 and its -31.88% over the same duration. 

Ether’s price [-5.27%] closed its daily candle on Tuesday worth $1,038.63 and in red figures for the third day in a row. 

Elrond Analysis

Elrond’s price outperformed the other projects we’ve analyzed today but still finished in negative figures on Tuesday and -$1.09.

The third chart we’re dissecting for Wednesday is the EGLD/USD 4HR chart below from TradeWMaya

This chart shows Elrond’s price breaking down below an important trendline with support at the $48 level. Bullish traders want to reclaim the territory above that trendline or they could suffer from much steeper downside soon. 

The support levels below for bullish EGLD market participants are the $48.23 level, $43.94 level, and $41.71 level.

Elrond Analysis
EGLD/USD 4HR chart shows Elrond’s price breaking down below an important trendline with support at the $48 level

Elrond’s Moving Averages: 5-Day [$52.03], 20-Day [$54.12], 50-Day [$70.71], Year to Date [$105.63].

Elrond’s 24 hour price range is $49.02-$50.89 and its 7 day price range is $49.02-$57.17. Elrond’s 52 week price range is $38.07-$542.07. 

Elrond’s price on this date last year was $85.7. 

The average price of EGLD over the last 30 days is $53.2 and its -2.47% over the same timespan. 

Elrond’s price [-2.17%] closed its daily session on Tuesday worth $49.24 and in red figures again for the third straight day.

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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