Bitcoin (20k), Ethereum (1.6k), Solana Price Analyses
Bitcoin (20k), Ethereum (1.6k), Solana Price Analyses
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Bitcoin (20k), Ethereum (1.6k), Solana Price Analyses

By R.L. Bryer - 23 Aug 2022

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Bitcoin Analysis 

Bitcoin’s price traded lower during Monday’s session which coincided with major stock market indexes pivoting as well. BTC’s price concluded its session on Monday -$100.4.  

We begin our project analyses for this Tuesday with the BTC/USD 1D chart below by Ronya63. BTC’s price is still trading between 0.236 [$17,920.66] and 0 [$25,178.76], at the time of writing. 

The overhead target of bullish traders is the 0 fibonacci level where BTC’s price recently topped after two months of positive price action.

The targets below for bearish BTC traders are 0.236, 0.382 [$13,430.49], and 0.5 [$9,801.44].

Bitcoin Analysis 

Bitcoin’s Moving Averages: 5-Day [$22,659.07], 20-Day [$23,178.92], 50-Day [$21,848.08], 100-Day [$28,292.68], 200-Day [$36,725.79], Year to Date [$33,548.41].

The Fear and Greed Index is 28 Fear and is -1 from Monday’s reading of 29 Fear.

Fear and Greed

BTC’s 24 hour price range is $20,890.2-$21,579.8 and its 7 day price range is $20,890.2-$24,438.65. Bitcoin’s 52 week price range is $17,611-$69,044. 

The price of bitcoin on this date last year was $49,538. 

The average price of BTC for the last 30 days is $23,002.8 and its -8.9% over the same duration. 

Bitcoin’s price [-0.47%] closed its daily candle worth $21,417.1 and in red figures again after a two day reprieve from selling pressure over last weekend. 

Ethereum Analysis 

Ether’s price outperformed BTC on Monday and when the daily trading session wrapped-up, ETH’s price was +$8.6.  

The second chart for analysis today is the ETH/USD 1D chart below from Inquiring_H. ETH’s price is trading between the 0 fibonacci level [$840.97] and 0.382 [$1,883.26], at the time of writing.

Bullish ETH market participants have their sights set on a retest of 0.382, followed by a secondary target of 0.5 [$2,205.23]. The third target to the upside is 0.618 [$2,527.19].

Bearish Ether traders conversely have their primary target at a full retracement back down to the 0 fib level before they attempt to make a fresh 12-month low for ETH’s price.

Ethereum Analysis 

Ether’s Moving Averages: 5-Day [$1,774.65], 20-Day [$1,730.49], 50-Day [$1,423.76], 100-Day [$1,927.28], 200-Day [$2,641.04], Year to Date [$2,335.76].

ETH’s 24 hour price range is $1,529.92-$1,629.72 and its 7 day price range is $1,529.92-$1,953.96. Ether’s 52 week price range is $883.62-$4,878. 

The price of ETH on this date in 2021 was $3,323.05. 

The average price of ETH for the last 30 days is $1,701.38 and its +3.36% over the same time frame. 

Ether’s price [+0.53%] closed its daily candle on Monday worth $1,626.83 and in green figures for a second day in a row. 

Solana Analysis

Solana’s price was the worst performer of today’s asset’s and when traders settled-up on Monday, SOL’s price was -$1.03. 

The last chart we’re looking at today is the SOL/USD 4HR chart below from CryptoAnalytics. Solana’s price is trading between 0.786 [$30.90] and 0.618 [$34.03], at the time of writing. 

The overhead targets on Solana are 0.618 [$34.03], 0.5 [$36.41], and 0.382 [$38.96].

The downside targets for bearish SOL traders that are short this market are 0.786 and back down to test a 12-month low at $27.33 [on FTX].

Solana Analysis

Solana’s Moving Averages: 5-Day [$39.30], 20-Day [$40.76], 50-Day [$38.17], 100-Day [$55.49], 200-Day [$96.42], Year to Date [$76.53].

Solana’s 24 hour price range is $33.73-$36.56 and its 7 day price range is $33.73-$44.5. SOL’s 52 week price range is $25.97-$259.96. 

Solana’s price on this date last year was $75.74. 

The average price of SOL over the last 30 days is $40.67 and its -18.53% during the same timespan. 

Solana’s price [-2.83%] closed its daily trading session on Monday worth $35.42 and in red figures for the eighth time over the last nine days. 

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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