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Home»Trading»Bitcoin ($38k), Ethereum ($2.5k), Algorand Price Analyses
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Bitcoin ($38k), Ethereum ($2.5k), Algorand Price Analyses

Donald MunnBy Donald MunnMarch 7, 2022Updated:September 29, 2022No Comments4 Mins Read
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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.

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 GreedThe 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 AnalysisBearish 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 AnalysisBullish 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.

The post Bitcoin ($38k), Ethereum ($2.5k), Algorand Price Analyses appeared first on cryptodailynews24.com.

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Donald Munn
Donald Munn
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