Bitcoin, Ethereum, and Solana all charged higher on Monday
Bitcoin, Ethereum, and Solana all charged higher on Monday
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Bitcoin, Ethereum, and Solana all charged higher on Monday

By R.L. Bryer - 19 Jul 2022

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Bitcoin Analysis 

Bitcoin’s price rallied higher in unison with a bullish engulfing candle from the aggregate crypto market cap on Monday and BTC’s price concluded its daily session +$1,695. 

Today we’re analyzing separate BTC charts from the same chartist. The first chart is the BTC/USD 8HR chart from ApexBull. Traders will note that BTC’s price is trading between 0.236 [$21,064.15] and 0.382 [$23,227.36], at the time of writing.

The next three targets above for bullish BTC traders on the 8HR timescale are 0.382, 0.5 [$24,975.71], and 0.618 [$26,724.05].

Bearish traders participating in shorting the bitcoin market are eyeing the 0.236 fibonacci level first, followed by a secondary target of a full retracement at 0 [$17,567.45]. 

Bitcoin Analysis 
BTC/USD 8HR chart: the price is trading between 0.236 [$21,064.15] and 0.382 [$23,227.36]
The second chart we’re looking at today is the BTC/USD 4HR chart on the right. We can see that BTC’s price is attempting to take out long term trend lines on both charts. Bullish BTC traders signaled to market participants on Monday that they’re in control with candle close confirmation above those trend lines.

The Fear and Greed Index is 30 Fear and is +10 from Monday’s reading of  20 Extreme Fear.

Fear and Greed
The Fear and Greed Index is 30 Fear

Bitcoin’s Moving Averages: 5-Day [$20,564.09], 20-Day [$20,477.78], 50-Day [$25,120.68], 100-Day [$33,151.34], 200-Day [$41,612.90], Year to Date [$35,401.43].

BTC’s 24 hour price range is $20,785-$22,958 and its 7 day price range is $19,113-22,958. Bitcoin’s 52 week price range is $17,611-$69,044. 

The price of Bitcoin on this date last year was $30,847. 

The average price of BTC for the last 30 days is $20,520.2 and its +8.7% over the same duration. 

Bitcoin’s price [+8.16%] closed its daily candle on Monday worth $22,476 and in green digits for the fifth time over the last six days. 

Ethereum Analysis 

Ether’s price is +71% from its 2022 low, at the time of writing and ETH closed Monday’s daily session +$246.93.  

The second chart we’re analyzing today is the ETH/USD 4HR chart below by AlanSantana. ETH’s price is trading between the 1.236 fibonacci level [$1,368.90] and 1.382 [$1,426.67], at the time of writing. 

The primary target for Ether bulls is 1.382, followed by targets above that level of 1.618 [$1,520.06], and 2 [$1,671.22].

Conversely, bearish Ether traders shorting that market are looking to push ETH’s price below 1.236 with a secondary target of 0.786 [$1,190.83]. The third target of bearish traders participating in the Ether market is 0.618 [$1,124.35]. 

Ethereum Analysis 
ETH/USD 4HR chart: the price is trading between the 1.236 fibonacci level [$1,368.90] and 1.382 [$1,426.67]
Ether’s Moving Averages: 5-Day [$1,209.73], 20-Day [$1,159.13], 50-Day [$1,524.04], 100-Day [$2,239.67], 200-Day [$2,959.41], Year to Date [$2,449.74].

ETH’s 24 hour price range is $1,342.6-$1,631 and its 7 day price range is $1,027.42-$1,631. Ether’s 52 week price range is $883.62-$4,878. 

The price of ETH on this date in 2021 was $1,818.36. 

The average price of ETH for the last 30 days is $1,164.58 and its +36.53% over the same time frame. 

Ether’s price [+18.46%] closed its daily candle worth $1,584.77 on Monday and ETH’s also closed in green figures for five of the last six daily candles. 

Solana Analysis

Solana’s price also traded higher on Monday and posted a daily session of +$4.93. 

The last chart we’re looking at for Tuesday is the SOL/USD 1W chart below from thenetsterr

Bullish Solana market participants are attempting to break out of a falling wedge this week on the weekly time frame. The levels they need to regain are $42.45 and $60.88 to clear the nearest overhead hurdles.  

If bullish traders can reclaim the $60.88 level then there’s a great opportunity for them to send SOL higher over the coming weeks. 

Solana Analysis
SOL/USD 1W chart: bullish Solana market participants are attempting to break out of a falling wedge

Solana’s Moving Averages: 5-Day [$36.70], 20-Day [$36.30], 50-Day [$40.56], 100-Day [$69.63], 200-Day [$116.57], Year to Date [$82.84]. 

Solana’s 24 hour price range is $38.76-$44.93 and its 7 day price range is $32.26-$44.93. Solana’s 52 week price range is $22.23-$259.96. 

SOL’s price on this date last year was $26.72. 

The average price of SOL over the last 30 days is $36.46 and its +37.43% over the same timespan. 

Solana’s price [+12.77%] closed its daily candle on Monday worth $43.54 and like BTC and ETH, SOL’s finished five of the last six days in positive figures. 

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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