Bitcoin’s price rose more than 5% on Tuesday as its price continues to be volatile despite being in a fairly narrow range. BTC’s price concluded Tuesday’s daily session +$1,939.9.
The BTC/USD 4HR chart below from desmondlzw shows BTC’s price bumping up against the 38.20% fibonacci level [$39,507.16], at the time of writing.
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Bullish BTC market participants want to exceed the 38.20% fib level sooner than later, the probability of further downside increases the longer bullish traders are denied control of price action above $40k. The secondary target for bullish BTC traders is 1 [$42,960.19].
From the perspective of bearish traders, bearish BTC market participants are seeking further downside if they can deny bulls at the $40k level. The target for bearish BTC traders to the downside is the 161.80% fib level [$33,868.22].
The Fear and Greed Index is 21 Extreme Fear and is -2 from Tuesday’s reading of 23 Extreme Fear.
Bitcoin’s Moving Averages: 5-Day [$39,586.22], 20-Day [$40,000.62], 50-Day [$40,556.70], 100-Day [$47,792.74], 200-Day [$45,723.13], Year to Date [$40,771.66].
BTC’s 24 hour price range is $38,320-$39,781 and its 7 day price range is $37,842-$42,438. Bitcoin’s 52 week price range is $29,341-$69,044.
The price of bitcoin on this date last year was $56,830.
The average price of BTC for the last 30 days is $39,949.
Bitcoin’s price [+5.14%] closed its daily candle worth $39,717 and in green figures again on Tuesday.
Ether’s price also climbed higher on Tuesday and concluded its daily candle +$72.55.
The ETH/USD 4HR chart by luckyLemur40330 shows Ether’s still stuck within a triangle pattern as bullish traders are clinging to a trend line dating back to February on that timescale.
Ether traders with bullish sentiment are aiming overhead at the 38.20% fib level [$2,586.22] with a secondary target of 50.00% [$2,671.40] and a third target of 61.80% [$2,757.87].
Conversely, bearish Ether market participants are hoping to push ETH’s price outside of the triangle pattern and down to test 23.60% [$2,481.17]. If they succeed in pushing Ether’s price below the 23.60% fib level the next target to the downside for bearish traders is a full retracement at 0.00% [$2,310.22].
Ether’s Moving Averages: 5-Day [$2,597.37], 20-Day [$2,708.22], 50-Day [$2,865.25], 100-Day [$3,544.33], 200-Day [$3,220.54], Year to Date [$2,900.31].
ETH’s 24 hour price range is $2,514-$2,660 and its 7 day price range is $2,514-$2,760. Ether’s 52 week price range is $1,558-$4,878.
The price of ETH on this date in 2021 was $1,808.
The average price of ETH for the last 30 days is $2,712.
Ether’s price [+2.88%] closed its daily candle on Tuesday also in green digits and worth $2,589.30.
Solana’s price followed the macro cryptocurrency market higher on Tuesday and concluded its daily candle +$2.50.
The third project we’re analyzing today is Solana and more specifically the SOL/USD 1D chart below from Sypool. Solana’s price broke out earlier this month of a bearish channel to the upside but risks falling back within that pattern.
Bullish Solana market participants need to rally soon or risk retesting the breakout of the descending channel shown below.
Solana’s Moving Averages: 5-Day [$82.45], 20-Day [$89.04], 50-Day [$106.76], 100-Day [$154.06], 200-Day [$121.29], Year to Date [$109.17].
Solana’s 24 hour price range is $79.04-$85.48 and its 7 day price range is $78.72-$89.21. Solana’s 52 week price range is $12.3-$259.96.
Solana’s price on this date last year was $25.28.
The average price of SOL over the last 30 days is $89.01.
Solana’s price [+3.18%] closed its daily candle worth $81.21 on Tuesday and in green figures again after closing in red figures on Monday.
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