Price analysis of Bitcoin, Ethereum, Cardano

Bitcoin Analysis 

Buyers were able to send Bitcoin’s price higher on Tuesday and regained the $16k level. When the day’s candle was printed, BTC’s price was +$441.7. 

The BTC/USD 3W chart below by XRP-Sanvel is the first chart we’re analyzing for this Wednesday. BTC’s price is trading between the 88.60% fibonacci level [$11,331.98] and 78.60% fib level [$17,839.77], at the time of writing.

The contagion surrounding FTX and Alameda Research still appear to be ongoing and bullish traders need to regain the 78.60% fib level on the 3W chart to try and muster a reversal firstly. Their secondary aim is 61.80% [$28,772.85] followed by targets of 50.00% [$36,452.05], 38.20% [$44,131.24 and the 21.40% fib level [$55,064.32].

Bearish traders contrariwise seeking to push BTC’s price below the 88.60% fib level followed by targets of 94.20% [$7,687.61], and the 100.00% fib level [$3,913.1]. 

BTC/USD 3W chart: the price is trading between the 88.60% fibonacci level [$11,331.98] and 78.60% fib level [$17,839.77]

Bitcoin’s Moving Averages: 5-Day [$16,335.4], 20-Day [$18,444.47], 50-Day [$19,040.89], 100-Day [$20,437.7], 200-Day [$27,640.9], Year to Date [$29,518.51].

The Fear and Greed Index is 22 Extreme Fear and is equal to Tuesday’s reading. 

Fear and Greed
The Fear and Greed Index is 22 Extreme Fear

BTC’s 24 hour price range is $15,616.6-$16,315 and its 7 day price range is $15,616.6-$16,971.48. Bitcoin’s 52 week price range is $15,476-$59,374. 

The price of Bitcoin on this date last year was $57,570.8. 

The average price of BTC for the last 30 days is $18,675.6 and its -15% over the same span. 

Bitcoin’s price [+2.80%] closed its daily candle worth $16,220.7 and in green figures again on Tuesday for the first time in three days. 

Ethereum Analysis 

Ether’s price also marked-up during Tuesday’s trading session and when the day’s candle concluded, ETH’s price was $32.29.  

The second chart on today’s docket is the ETH/USD 1D chart via algomoneyfest. At the time of writing, ETH’s price is nestled between the 1 fib level [$411.24] and 0.786 [$1,365.01]

The overhead targets for bulls of Ether’s market are 0.786, 0.618 [$2,113.76], 0.5 [$3,165.59], 0.236 [$3,816.29], and a full retracement at 0 [$4,868.11] on the BitStamp 1D chart. 

Conversely, those still shorting Ether want to push ETH back to a three figure valuation with a secondary aim of the 1 fibonacci level.

ETH/USD 1D chart
ETH/USD 1D chart: the price is nestled between the 1 fib level [$411.24] and 0.786 [$1,365.01]

Ether’s Moving Averages: 5-Day [$1,168.87], 20-Day [$1,370.40], 50-Day [$1,356.43], 100-Day [$1,469.21], 200-Day [$1,924.28], Year to Date [$2,075.46].

ETH’s 24 hour price range is $1,075-$1,146.13 and its 7 day price range is $1,075-$1,265.11. Ether’s 52 week price range is $883.62-$4,778. 

The price of ETH on this date in 2021 was $4,340.45. 

The average price of ETH for the last 30 days is $1,377.38 and its -12.02% over the same interval. 

Ether’s price [+2.92%] closed its daily session worth $1,139.78 and also in positive figures for the first time in three days on Tuesday. 

Cardano Analysis

Cardano’s price finished Tuesday’s daily candle +$0.0079 after buyers controlled ADA’s price action for the first day this week. 

The ADA/USD 1W chart from Swoop6 is the last chart for examination today. ADA’s price is trading between the 0.5 fib level [$0.28] and 0.382 [$0.487], at the time of writing.

Cardano’s an asset that’s seen very little positive price action since its all-time high was printed on 9/2/21 [447 days ago]. Bullish traders have support at the 0.5 fib level and need to regain the 0.382 to mark a reversal and generate some sort of signal that the end of the pain is near. Above that level the targets are the 0.236 fibonacci level [$0.964] and a full retracement of 0 [$2.91] on the weekly time frame.

Bearish traders are attempting to send ADA’s price below the $0.3 level again for the first time since January of 2021. Their targets below that level are the 0.5, 0.618 [$0.161], 0.786 [$0.73] and 1 fib level [$0.027]. 

ADA/USD 1W chart
ADA/USD 1W chart: the price is trading between the 0.5 fib level [$0.28] and 0.382 [$0.487]

Cardano’s Moving Averages: 5-Day [$0.318], 20-Day [$0.363], 50-Day [$0.395], 100-Day [$0.441], 200-Day [$0.603], Year to Date [$0.683].

Cardano’s 24 hour price range is $0.298-$0.316 and its 7 day price range is $0.298-$0.344. ADA’s 52 week price range is $0.296-$1.81. 

Cardano’s price on this date last year was $1.75. 

The average price of ADA over the last 30 days is $0.365 and its -8.67% during the same duration. 

Cardano’s price [+2.59%] closed its daily candle on Tuesday worth $0.312 and in green figures for the fourth time over the last ten days.


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