Bitcoin’s price slightly increased for a third consecutive day on Tuesday and bullish BTC market participants helped BTC’s price close +$292 for its daily session.
The BTC/USD 1D chart below from seperslp presents the case for bullish BTC traders to again go up and retest overhead resistance at the $40k level before again potentially selling off to lower lows.
Bearish BTC market participants failed to send BTC’s price down to test the bottom of its current range at $29,904.14 before bulls were able to pivot and again charge higher. If bulls fail to break out above $41k further downside may be forthcoming for bitcoin’s price.
BTC can go up to $40k and then selling off again
The Fear and Greed Index is 23 Extreme Fear and +11 from Tuesday’s reading of 12 Extreme Fear.
BTC’s 24 hour price range is $35,707-$37,542 and its 7 day price range is $33,172-$43,308. Bitcoin’s 52 week price range is $29,341-$69,044.
The price of bitcoin on this date last year was $32,375.
The average price of BTC for the last 30 days is $43,344.
Bitcoin’s price [+0.80%] closed its daily candle worth $36,994 on Tuesday.
Ether’s price is still extremely oversold but managed to finish marginally in green figures for Tuesday’s daily candle [+$17.46].
The ETH/USD 1D chart below by chartist JustoMcGusto allows traders to identify the most crucial trading ranges for Ether market participants in the short term and longer term.
In the interim bullish Ether traders are trying to pivot at the 0.236 fib level [$2,304.41] and again go up and test the 0.382 [$2,792.1]. Bullish ETH traders have a secondary target at the 0.5 [$3,505.48] if they can rally and flip the 0.382 once more from resistance to support.
Bearish Ether traders are at variance with bulls and attempting to continue their overall momentum of the market. Their first target to the downside is 0.236 with a secondary target of a full retracement at 0 [$2,151.53].
Most crucial trading ranges for Ether
ETH’s 24 hour price range is $2,355-$2,506 and its 7 day price range is $2,204-$3,257. Ether’s 52 week price range is $1,238-$4,878.
The price of ETH on this date in 2021 was $1,355.
The average price of ETH for the last 30 days is $3,322.
Ether’s price [+0.72%] closed its daily candle on Tuesday worth $2,458.27.
Monero’s price again finished in red figures on Tuesday and concluded its daily session -$2.20.
The third chart we’re analyzing today is the XMR/USD 1W chart below from numotion. Monero’s price action during the 2021 bull cycle was rather bleak compared to expectations and is only +3.1% for the last 12 months, at the time of writing.
Monero’s price is currently trading within a descending wedge and near the asset’s trendline that dates back to the beginning of 2021.
From the perspective of bullish XMR traders, they’re hopeful that they’ll again be able to eclipse the 0.382 [$164.96]. If they do crack the 0.382 and send XMR’s price higher, the next important level is $212. The $212 level is the top of the descending wedge and if bullish traders can conquer that level it would be a bullish breakout of that structure.
From a bearish XMR traders point of view, they’re hoping to again send XMR’s price down to test the 0.5 fib level [$114.4] which will only occur with a bearish breakout to the downside of the current structure.
Monero’s price action during the 2021 bull cycle was rather bleak
Monero’s 24 hour price range is $139.73-$147.76 and its 7 day price range is $136.98-$212.71. XMR’s 52 week price range is $134.8-$542.33.
Monero’s price on this date last year was $137.89.
The average price for XMR over the last 30 days is $203.21.
Monero’s price [-1.50%] had a daily candle close on Tuesday of $144.5 and has ended its daily candle in red digits for eight of the last nine days.
The post Bitcoin ($36.9k), Ethereum ($2.4k), Monero Price Analyses appeared first on cryptodailynews24.com.