Bitcoin (16k), Ethereum (1.2k), Cardano Price Analyses
Bitcoin (16k), Ethereum (1.2k), Cardano Price Analyses
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Bitcoin (16k), Ethereum (1.2k), Cardano Price Analyses

By R.L. Bryer - 24 Nov 2022

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Despite the bear market, some cryptos seem to bounce from their bottom: let’s analyze together the price of Bitcoin, Ethereum and Cardano.   

Bitcoin Analysis 

Bitcoin’s price marked-up again on Wednesday and when the day’s candle was printed, BTC’s price was +$404.  

The BTC/USD 2HR chart below by MrBurns21 is the first chart we’re analyzing for this Thursday. BTC’s price is trading between the 0.618 fibonacci level [$15,565.87] and 0 fib level [$16,966.97], at the time of writing. 

On the 2HR timescale bullish BTC market participants are trying to signal some strength and reclaim territory above the 0 fibonacci level. If they can achieve that aim, they may be able to signal some sort of reversal to the upside even though it’s on a high time frame.

Conversely, bearish targets to the downside to continue their technical damage on the chart are 0.618, 1 [$14,758.3], 1.236 [$14,280.47], and the 1.618 fib level [$13,359.59].

bitcoin prices btc ethereum eth cardano ada
BTC/USD 2HR chart: the price is trading between the 0.618 fibonacci level [$15,565.87] and 0 fib level [$16,966.97]
The Fear and Greed Index is 20 Extreme Fear and is -2 from Wednesday’s reading of 22 Extreme Fear.

fear&greed index
The Fear and Greed Index is 20 Extreme Fear 

Bitcoin’s Moving Averages: 5-Day [$16,306.36], 20-Day [$18,226.5], 50-Day [$18,969.87], 100-Day [$20,397.77], 200-Day [$27,502.44], Year to Date [$29,462.18].

BTC’s 24 hour price range is $16,168-$16,682 and its 7 day price range is $15,665.73-$16,945.24. Bitcoin’s 52 week price range is $15,501-$59,423.4. 

The price of Bitcoin on this date last year was $57,209. 

The average price of BTC for the last 30 days is $18,601.7 and its -14.4% over the same interval. 

Bitcoin’s price [+2.49%] closed its daily candle worth $16,619 and in green figures for a second consecutive day on Wednesday.  

Ethereum Analysis 

Bullish Ether market participants pushed ETH’s price higher again on Wednesday and it finished its daily session +$46.01. 

The second chart we’re looking at today is the ETH/USD 4HR chart from FXCM. At the time of writing, ETH’s price is tucked between the 127.20% fib level [$1,057.54] and 100.00% [$1,190.00]

The aim of bullish ETH market participants is to regain the 100.00% fib level with targets after that level of 61.80% [$1,376.03], 38.20% [$1,490.97], and a full retrace at the 0.00% fibonacci level [$1,677.00]. 

Those that are shorting ETH yet, have their sights set on cracking the 127.20% fib level with a secondary aim of pushing Ether’s price back to three figures. The third target to the downside on ETH is the 12-month low of $883.62.

bitcoin prices btc ethereum eth cardano ada
ETH/USD 4HR chart: the price is tucked between the 127.20% fib level [$1,057.54] and 100.00% [$1,190.00]
Ether’s Moving Averages: 5-Day [$1,159.71], 20-Day [$1,350.75], 50-Day [$1,347.58], 100-Day [$1,469.21], 200-Day [$1,914.38], Year to Date [$2,071.54].

ETH’s 24 hour price range is $1,127.75-$1,190 and its 7 day price range is $1,082.89-$1,227.95. Ether’s 52 week price range is $883.62-$4,778. 

The price of ETH on this date in 2021 was $4,270. 

The average price of ETH for the last 30 days is $1,373.51 and its -10.68% over the same duration. 

Ether’s price [+4.04%] closed its daily session on Wednesday valued at $1,185.79. 

Cardano Analysis

Cardano’s price was also sent over 2% higher by bullish traders on Wednesday and when traders settled-up to close the daily session, ADA’s price was +$0.0063. 

The ADA/USD 1W chart below from Swoop6 is the final chart to conclude our price analyses for this Thursday. ADA’s price is trading between the 1 fibonacci level [$0.027] and 0.786 [$0.073] on the weekly time frame, at the time of writing. 

From the perspective of bullish ADA market participants, they want to again regain the 0.786 fib level with a secondary target of 0.618 [$0.161]. The targets above that level are 0.5 [$0.280], 0.382 [$0.487], 0.236 [$0.964], and a full retrace at 0 [$2.913].

At variance with the bullish perspective are those still shorting the ADA market. Their targets are to break the 1 fibonacci level and then send ADA’s price back below $0.02.

bitcoin prices btc ethereum eth cardano ada
ADA/USD 1W chart: the price is trading between the 1 fibonacci level [$0.027] and 0.786 [$0.073] 
Cardano’s 24 hour price range is $0.309-$0.32 and its 7 day price range is $0.299-$0.333. ADA’s 52 week price range is $0.296-$1.75. 

Cardano’s price on this date last year was $1.66. 

The average price of ADA over the last 30 days is $0.364 and its -9.22% over the same time frame. 

Cardano’s price [+2.02%] closed its daily candle worth $0.3188 and in positive figures for the second day in a row. 

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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