Bitcoin (20k), Ethereum (1.3k), Elrond price analyses
Bitcoin (20k), Ethereum (1.3k), Elrond price analyses
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Bitcoin (20k), Ethereum (1.3k), Elrond price analyses

By R.L. Bryer - 5 Oct 2022

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Bitcoin Analysis 

Bitcoin bulls again regained $19,891 on Tuesday which is arguably now the most critical level of inflection in bitcoin’s history. After the day’s candle had been printed, BTC’s price was +$711.3.  

The first chart we’re analyzing for this Wednesday is the BTC/USD 4HR chart below by zippy1day. BTC’s price is trading between the 0 fibonacci level [$19,946.5] and 1 fib level [$20,560.5], at the time of writing. 

The targets above for bullish BTC traders are the 1 fib level followed by 1.618 [$21,630.5], 1.75 [$21,859.0], 2 [$22,291.5], 2.236 [$22,700.0], and 2.618 [$23,361.5]. 

Conversely, the traders that are anticipating further downside yet have to push BTC’s price below the 0 fib level with targets after that level of 0.382 [$19,531.0], 0.5 [$19,402.5], and 0.618 [$19,274.5]. 

BTC/USD 4HR chart
BTC/USD 4HR chart: the price is trading between the 0 fibonacci level [$19,946.5] and 1 fib level [$20,560.5]
The Fear and Greed Index is 25 Extreme Fear and is +5 from Tuesday’s reading of 20 Extreme Fear.

Fear and Greed
The Fear and Greed Index is 25 Extreme Fear

Bitcoin’s Moving Averages: 5-Day [$19,640.18], 20-Day [$19,708.95], 50-Day [$21,225.25], 100-Day [$22,744.05], 200-Day [$31,642.65], Year to Date [$31,409.67]. 

BTC’s 24 hour price range is $19,490.6-$20,475 and its 7 day price range is $18,548.96-$20,475. Bitcoin’s 52 week price range is $17,611-$69,044. 

The price of Bitcoin on this date last year was $51,508. 

The average price of BTC for the last 30 days is $19,750.6 and its +0.7% over the same stretch. 

Bitcoin’s price [+3.62%] closed its daily candle worth $20,340 and in green figures on Tuesday for a second day in a row. 

Ethereum Analysis 

Ether’s price also has been dominated by bullish market participants over the last few days and when Tuesday’s trading session concluded, ETH’s price was +$38.1.  

We shift to the ETH/USD 1HR chart below from EdgarTigranyan for our second price analysis today. Ether’s price is trading between the 78.60% fib level [$1,341.25] and 65.00% fib level [$1,419.67], at the time of writing.

Bullish Ether traders are on the verge of regaining the $1,400 level which is a major level of inflection dating back to ETH’s 2018 ATH. If bulls can regain that level their targets shift to 65.00%, 61.80% [$1,438.12], 50.00% [$1,506.15], 38.20% [$1,574.18], 23.60% [$1,658.36], and 0.00% [$1,794.43].

Bearish ETH traders have a different route in mind, they want to first stop the reversal bulls are putting in currently and then send ETH downward to test the 78.60%, 100.00% [$1,217.87], and 161.80% [$861.56].

ETH/USD 1HR chart
ETH/USD 1HR chart: the price is trading between the 78.60% fib level [$1,341.25] and 65.00% fib level [$1,419.67]
Ether’s Moving Averages: 5-Day [$1,338.02], 20-Day [$1,443.32], 50-Day [$1,594.11], 100-Day [$1,525.88], 200-Day [$2,226.81], Year to Date [$2,204.12]. 

ETH’s 24 hour price range is $1,318.66-$1,369.55 and its 7 day price range is $1,270.59-$1,369.55. Ether’s 52 week price range is $883.62-$4,878. 

The price of ETH on this date in 2021 was $3,517.82. 

The average price of ETH for the last 30 days is $1,456.69 and its -14.41% over the same time frame. 

Ether’s price [+2.88%] closed its daily candle on Tuesday worth $1,361.5 and ETH’s finished in green digits for two consecutive days. 

Elrond Analysis

Elrond’s price was up more than 10% at times during Tuesday’s trading session and when traders settled-up at 12:00 UTC, EGLD’s price was +$3.19. 

The EGLD/USD 4HR chart from serh_ukraine is the final chart for analysis this Wednesday.

Bullish EGLD traders sent Elrond’s price parabolic on the 4HR timescale on Tuesday. They first regained the 0.382 fib level [$47.25] followed by the 0.5 [$47.94], 0.618 [$48.62] and then the 1 fib level [$50.84].

The targets are in reverse now for bearish traders that gave up a lot of ground on Tuesday – their eventual target is the 0 fib level [$45.04] that’s proven to be a strong support recently for bullish Elrond market participants. 

EGLD/USD 4HR chart
EGLD/USD 4HR chart: bullish EGLD traders sent Elrond’s price parabolic on the 4HR timescale on Tuesday

Elrond’s Moving Averages: 5-Day [$50.02], 20-Day [$49.33], 50-Day [$54.06], 100-Day [$58.41], Year to Date [$83.88]. 

Elrond’s price is +7.87% against The U.S. Dollar over the last 30 days, +6.81% against BTC, and +24.95% against ETH, over the same duration.

EGLD’s 24 hour price range is $51.6-$56.87 and its 7 day price range is $45.19-$56.87. Elrond’s 52 week price range is $38.07-$542.7. 

Elrond’s price on this date last year was $245.15. 

The average price of EGLD over the last 30 days is $49.51 and its +6.78% over the same period. 

Elrond’s price [+6.13%] closed its trading session on Tuesday worth $55.21 and in green figures again for the fourth 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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