Bitcoin’s price bearishly engulfed on Wednesday and closed its daily session -$714.
The first bitcoin chart we look at today is the BTC/USD 1D chart below from CryptocurrencyMagnet. As traders will note, BTC’s price is still trading inside a narrow range that’s acting as support between $41,487-$43,599.
Bearish BTC market participants are trying to push BTC’s price down to again test the 23.60% fib level [$39,694.48]. If bears have their way and can crack that level the next major support level for bulls isn’t until an entire retracement has been made at 0.00% [$30,640.75].
From the perspective of bullish BTC traders, they need to again climb to the top of the current range at $43,599 and eclipse that price level once again. If BTC bulls can flip that level back to support from resistance, the next overhead resistance is the 38.20% fib level [$45,295.51].
BTC’s price is trading inside a narrow rang between $41,487-$43,599.
The second bitcoin chart we analyze today is the BTC/USD 1W chart from mohamed.alrashedi.3. Bearish BTC traders are clearly in control of the weekly time frame with BTC’s price currently trading in between the 50.00% fib level [$37,351.26] and the 61.80% fib level [$29,886.26].
Bearish BTC traders are clearly in control of the weekly time frame
The Fear and Greed Index is 24 Extreme Fear and is equal to yesterday’s reading.
The Fear and Greed Index is 24 Extreme Fear
Bitcoin’s Moving Averages: 20-Day [$45,118.53], 50-Day [$50,608.12], 100-Day [$52,157.25], 200-Day [$47,230.25], Year to Date [$43,172.93].
BTC’s 24 hour price range is $41,244-$42,652 and its 7 day price range is $41,244-$44,046. Bitcoin’s 52 week price range is $28,991-$69,044.
The price of bitcoin on this date last year was $35,587.
The average price of BTC for the last 30 days is $45,558.
Bitcoin’s price [-1.68%] closed its daily candle worth $41,676 and extended its streak to eight straight days of alternating between green and red daily candle closes.
Ether’s price posted its third straight daily candle close in red figures on Wednesday and finished its daily session -$75.76.
The ETH/USD 1D chart below from farouk.salameh.99 shows ETH’s price still trading in the middle of its current downtrend. The next support for bullish ETH traders is $2,686.39. The next major support level for Ether bulls isn’t until $1,759.85.
ETH’s price is still trading in the middle of its current downtrend.
Ether’s Moving Averages: 20-Day [$3,534.45], 50-Day [$3,958.78], 100-Day [$3,832.40], 200-Day [$3,248.78], Year to Date [$3,345.60].
ETH’s 24 hour price range is $3,064-$3,189 and its 7 day price range is $3,064-$3,390. Ether’s 52 week price range is $1,110-$4,878.
The price of ETH on this date in 2021 was $1,385.
The average price of ETH for the last 30 days is $3,592.
Ether’s price [-2.4%] closed its daily candle on Wednesday worth $3,084.2.
Cardano’s price was sent lower by bearish market participants on Wednesday and closed its daily candle -$.13.
ADA’s support levels
The ADA/USD 1D chart above from Pharmlord shows ADA’s price leaning on the 0.236 [$1.31] as support and range bound between that fibonacci level and the 0.382 [$1.35] this week.
ADA bulls are trying to hold the 0.236 and again flip the 0.382 to support. A secondary target of 0.618 [$1.42] and a third target of 0.786 [$1.47] would be next for ADA bulls.
Bearish ADA traders are seeking to break the $1.31 level and send ADA’s price back down to test 0 [$1.25] which is the point of the last trend reversal.
Cardano’s Moving Averages: 20-Day [$1.33], 50-Day [$1.45], 100-Day [$1.83], 200-Day [$1.72], Year to Date [$1.72].
Cardano’s 24 hour price range is $1.33-$1.53 and its 7 day price range is $1.24-$1.61. ADA’S 52 week price range is $.28-$3.09.
ADA’s price on this date last year was $.37.
The average price for Cardano over the last 30 days is $1.32.
ADA’s price [-8.33%] finished its daily candle in red digits for a third straight close and worth $1.33.
The post Bitcoin ($41k), Ethereum ($3k), Cardano Price Analyses appeared first on cryptodailynews24.com.