Bitcoin, Ethereum, Algorand Price Analyses


Bitcoin Analysis 

BTC’s price was worth $38,437 when traders settled up to close the daily / weekly candle on Sunday at 12:00 UTC. 

The first project we’re analyzing per usual is bitcoin and today we’re looking firstly at the BTC/USD 1D chart below from IceCreamMayDay.

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BTC’s price is trading just above its trendline on the daily time frame dating back to the beginning of 2022, at the time of writing. It looks as though a steep move to the downside is imminent if BTC bulls fail to hold the 0.236 fib level [$37,514.36]. 

If bullish BTC traders fail to hold the 0.236 fib level, the next support isn’t until 0 [$32,928.60] on the daily time frame. Conversely, if bulls are able to hold the 0.236 and rally, their overhead targets are 0.382 [$40,351.64] and 0.5 [$42,644.62].

Bitcoin Analysis
BTC’s price is trading just above its trendline

The Fear and Greed Index is 23 Extreme Fear and +1 from Sunday’s reading of 22 Extreme Fear. 

Fear and Greed
The Fear and Greed Index is 23 Extreme Fear 

Bitcoin’s Moving Averages: 20-Day [$41,553.66], 50-Day [$41,704.14], 100-Day [$49,444.84], 200-Day [$45,624.23], Year to Date [$41,018.51].

BTC’s 24 hour price range is $38,253-$39,668 and its 7 day price range is $37,587-$44,790. Bitcoin’s 52 week price range is $29,341-$69,044. 

The price of bitcoin on this date last year was $51,313. 

The average price of BTC for the last 30 days is $41,165. 

Bitcoin’s price [-2.46%] closed its daily candle -$971 and in red figures for the fourth time over the last five days.

Ethereum Analysis 

Ether’s price sold-off nearly twice as much as BTC’s price on Sunday while concluding its daily session down more than 4% and -$116.02.

The second chart we’re looking at today is the ETH/USD 1W chart from Ironman8848. Bearish Ether market participants are aiming at breaking back below the 50.00% fib level [$2,478.57] with a secondary target to the downside of 61.805 [$1,914.02].

From the perspective of bullish ETH traders, they’re aiming at still managing to regain the $3k level before an eventual target of a full retracement back to ETH’s all-time high price [$4,870.51].

Ethereum Analysis
Bearish Ether market participants are aiming at breaking back below the 50.00% fib level

Ether’s Moving Averages: 20-Day [$2,884.94], 50-Day [$3,036.09], 100-Day [$3,645.63], 200-Day [$3,223.47], Year to Date [$2,950.83]. 

ETH’s 24 hour price range is $2,596-$2,683 and its 7 day price range is $2,606-$3,020. Ether’s 52 week price range is $1,558.99-$4,870.51. 

The price of ETH on this date in 2021 was $1,727.46.

The average price of ETH for the last 30 days is $2,853.44. 

Ether’s price [-4.35%] closed its daily candle on Sunday worth $2,549.40 and also has finished in red digits four of the last five days.

Algorand Analysis

Algorand’s price concluded its daily session -$0.028 and has finished in red figures for five of the last six days. 

The third chart we’re analyzing today is the ALGO/USD 1D chart below from Jllio. Bullish ALGO market participants are trying to hold a long-term trendline on the daily timescale and attempting to rally back to test 0.618 [$1.21]. 

If bullish traders fail to hold the 0.786 fib level [$0.72] then the next major support isn’t until 1 [$0.0979].

Algorand Analysis
Bullish ALGO market participants are trying to hold a long-term trendline 

Algorand’s Moving Averages: 20-Day [$0.886], 50-Day [$1.13], 100-Day [$1.43], 200-Day [$1.31], Year to Date [$1.07].

Algorand’s 24 hour price range is $0.746-$0.780 and its 7 day price range is $0.748-$0.88. ALGO’s 52 week price range is $0.677-$3.56. 

Algorand’s price on this date last year was $1.11.

The average price of ALGO over the last 30 days is $0.88. 

Algorand’s price [-3.61%] closed its daily candle worth $0.745 on Sunday.





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