Bitcoin (20k), Ethereum (1.3k), Solana Price Analyses
Bitcoin (20k), Ethereum (1.3k), Solana Price Analyses
Trading

Bitcoin (20k), Ethereum (1.3k), Solana Price Analyses

By R.L. Bryer - 27 Sep 2022

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Bitcoin Analysis 

The S&P 500 had its lowest close in over 2 years on Monday but BTC’s price closed in positive figures and when traders settled up at its daily session close, BTC’s price was +$422.6. 

We’re beginning our price analyses today with the BTC/USD 1D chart below from alhumran. BTC’s price saw a nice rebound on Monday but has yet to regain its 2017 all-time high of $19,891 and is trading between the 1 fibonacci level [$12,272.29] and 0.786 [$19,944.48], at the time of writing. 

Overhead targets for bullish traders are 0.786, 0.618 [$25,965.93], 0.5 [$30,195.28], 0.236 [$39,657.56], and 0 [$48,110.27]. 

Conversely, bearish BTC traders have a primary target to the downside of the 1 fibonacci level which is the last major area of support on the daily time frame before heading back to a four digit price. 

BTC/USD 1D chart
BTC/USD 1D chart: the price is trading between the 1 fibonacci level [$12,272.29] and 0.786 [$19,944.48]
The Fear and Greed Index is 20 Extreme Fear and is -1 from Monday’s reading of 21 Extreme Fear.

Fear and Greed
The Fear and Greed Index is 20 Extreme Fear

Bitcoin’s Moving Averages:  5-Day [$19,002.9], 20-Day [$19,786.73], 50-Day [$21,587.08], 100-Day [$23,347.57], 200-Day [$32,548.04], Year to Date [$31,781.81].

BTC’s 24 hour price range is $18,680.7-$19,319 and its 7 day price range is $18,424.7-$19,721.93. Bitcoin’s 52 week price range is $17,611-$69,044. 

The price of Bitcoin on this date last year was $42,169.6. 

The average price of BTC for the last 30 days is $19,929.7 and its -10.8% over the same time frame. 

Bitcoin’s price [+2.25%] closed its daily candle worth $19,225.4 and in green figures for the first time in four days on Monday. 

Ethereum Analysis 

Ether’s price also appreciated on Monday and when the day’s candle closed, ETH’s price was +$42.8.  

Today we’re examining Ether’s price per usual and the ETH/USD 1D chart below from CrashWhen. Ether’s price is trading back above its 200W MA [$1,278], at the time of writing. 

If bullish ETH market participants can regain the $1,400 level then they may enjoy more short-term success. If bears are able to deny them access to that level and again send ETH’s price below its 200W MA, then the next targets are the 1 fib level [$1,251.9] and 0.618 [$1,211.17]. 

ETH/USD 1D chart
ETH/USD 1D chart: the price is trading back above its 200W MA [$1,278]
Ether’s Moving Averages: 5-Day [$1,318.98], 20-Day [$1,515.01], 50-Day [$1,614.49], 100-Day [$1,569.72], 200-Day [$2,307.11], Year to Date [$2,231.33].

ETH’s 24 hour price range is $1,277.85-$1,340.42 and its 7 day price range is $1,238.84-$1,381.11. Ether’s 52 week price range is $883.62-$4,878. 

The price of ETH on this date in 2021 was $2,926.02. 

The average price of ETH for the last 30 days is $1,512.66 and its -20.43 over the same period. 

Ether’s price [+3.31%] closed its daily candle on Monday worth $1,337.01 and in green digits for the first time since last Friday.

Solana Analysis

Solana’s price was the top performer of today’s lot and concluded its daily session +$1.57. 

The third chart we’re looking at for this Tuesday is the SOL/USD 4HR chart below by maikisch. We can see Solana’s price broke out of its uptrend in mid-August and since has been trying to hold the $30 level.

Bullish traders are trying to regain the 0.236 fibonacci level [$34.34] with a secondary aim of 0.382 [$37.03]. The next targets for bulls are 0.5 [$39.21], 0.618 [$41.38], and 0.786 [$44.47]. 

If bullish traders fail to regain the 0.236 fib level they risk a trip back down into the $20-$30 range. Bulls should have strong support at the 0.786 with a secondary support level below that at $20.68. 

SOL/USD 4HR
SOL/USD 4HR: Solana’s price broke out of its uptrend in mid-August

Solana’s Moving Averages: 5–Day [$32.20], 20-Day [$32.74], 50-Day [$37.05], 100-Day [$38.79], 200-Day [$75.81], Year to Date [$70.84].

Solana’s 24 hour price range is $31.87-$33.95 and its 7 day price range is $30.56-$34.5. SOL’s 52 week price range is $25.97-$259.8. 

Solana’s price on this date last year was $136.36.

The average price of SOL over the last 30 days is $32.68 and its -5.35% over the same duration. 

Solana’s price [+4.86%] closed its daily session on Monday worth $33.89 and back in green figures for the first time in three 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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