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Bitcoin, Ethereum, Solana’s price analyses

Bitcoin Analysis 

Bitcoin’s price reversed course on Tuesday after six days of positive price action and when traders settled-up at 12:00 UTC, BTC’s price was -$2,214.  

The first chart we’re analyzing for this Wednesday is the BTC/USD 1D chart below from YL_PRO. BTC’s price is trading between the 100% fibonacci level [$18,224.25] and the 78.60% fib level [$24,630.81], at the time of writing. 

The overhead targets for bullish BTC traders that believe Tuesday’s markdown was just a short-term pullback are 78.60%, 61.80% [$29,765.56], 50.00% [$33,145.57], 38.20% [$36,753.13], 23.60% [$41,104.46], and 0.00% [$48,199.27].

Bearish traders that believe the recent rally has come to an end and are short the BTC market are eyeing the 100% fib level with a secondary target of 127.20% [$10,150.04]. The third target to the downside for bearish BTC traders on the daily timescale is 141.40% [$5,876.33].

btc/usd 1d chart
BTC/USD 1D chart: the price is trading between the 100% fibonacci level [$18,224.25] and the 78.60% fib level [$24,630.81]
The Fear and Greed Index is 27 Fear and is -7 from Tuesday’s reading of 34 Fear.

fear&greed27
The Fear and Greed Index is 27 Fear

Bitcoin’s Moving Averages: 5-Day [$20,675.07], 20-Day [$20,859.19], 50-Day [$21,847.54], 100-Day [$24,982.45], 200-Day [$33,845.71], Year to Date [$32,400.56].

BTC’s 24 hour price range is $19,883-$22,794 and its 7 day price range is $18,650-$22,794. Bitcoin’s 52 week price range is $17,611-$69,044. 

The price of Bitcoin on this date last year was $47,068.8. 

The average price of BTC for the last 30 days is $21,276.4 and its -13% over the same period. 

Bitcoin’s price [-9.89%] closed its daily candle worth $20,181 on Tuesday and in red digits for the first time in seven days. 

Ethereum Analysis 

Bullish Ether traders also suffered a large setback on Tuesday and Ether’s price was -$141.81.  

Today’s second chart of emphasis is the ETH/USD 1D chart below by maikisch. ETH’s price is trading between the 1.382 fib level [$1,185.8] and 1 [$1,611.0], at the time of writing. 

With Ethereum’s Merge from its current mainnet to Ethereum’s new Beacon Chain scheduled to take place in less than 24 hours, have we seen the top of the recent rally on ETH’s price or is there further upside yet on ETH in the interim? 

The targets on ETH to the upside are the 1 fib level followed by 0.618 [$2,186.6]. 

Conversely, bearish ETH targets for market participants that believe the local top is in are 1.382, 1.618 [$981.3], 1.786 [$857.6], 2 [$722.3], 2.236 [$597.7], 2.382 [$531.7], and the 2.618 fib level [$440.0].

eth/usd 1d chart
ETH/USD 1D chart: the price is trading between the 1.382 fib level $1,185.8] and 1 [$1,611.0]
Ether’s Moving Averages: 5-Day [$1,664.45], 20-Day [$1,646.06], 50-Day [$1,581.64], 100-Day [$1,693.81], 200-Day [$2,425.18], Year to Date [$2,272.90].

ETH’s 24 hour price range is $1,561.6-$1,763.9 and its 7 day price range is $1,502.29-$1,780.39. Ether’s 52 week price range is $883.62-$4,878. 

The price of ETH on this date in 2021 was $3,430.3. 

The average price of ETH for the last 30 days is $1,671.43 and its -14.93% over the same duration. 

Ether’s price [-8.26%] closed its daily candle on Tuesday worth $1,574.9 and ETH’s price has finished in red figures for three straight days. 

Solana’s Analysis

Solana’s price lost nearly 12% of its value on Tuesday and when its daily candle was printed SOL’s price was -$4.46. 

The SOL/USD 1D chart below from YL_PRO is the third chart we’re analyzing today. Solana’s price is trading between 78.60% [$34.48] and 61.80% [$37.56].

The overhead targets are 50.00% [$39.71], 38.20% [$41.76], 23.60% [$44.15], and a full retracement at 0 [$48.59].

Bearish Solana traders have targets to the downside of the 1D time frame of 78.60%, 100% [$30.7], 127.20% [$25.86], 141.40% [$23.25], and 161.80% [$19.69].

sol/usd 1d chart
SOL/USD 1D chart: the price is trading between 78.60% [$34.48] and 61.80% [$37.56]
Solana’s Moving Averages: 5-Day [$34.62], 20-Day [$34.38], 50-Day [$37.81], 100-Day [$43.75], 200-Day [$82.17], Year to Date [$72.74].

Solana’s 24 hour price range is $32.71-$39.01 and its 7 day price range is $30.61-$39.01. SOL’s 52 week price range is $25.97-$259.8. 

Solana’s price on this date last year was $158.44. 

The average price of SOL’s over the last 30 days is $35.56 and its -18.7% over the same time frame. 

Solana’s price [-11.91%] closed its daily session on Tuesday worth $32.99 and in red digits for the second time over the last three days. 

R.L. Bryer
R.L. Bryerhttp://bryer.io
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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