Bitcoin, Ethereum, Avalanche Price Analyses

Bitcoin Analysis 

Bitcoin’s price has market participants questioning whether it’s preparing to put a second low or whether we’re witnessing a typical bearish backtest before further capitulation to the downside. Despite bearish divergence continuing to build on Monday, BTC’s price finished in green figures and was +$121 for its daily session. 

The BTC/USD 1W chart below from GiraffePiWorld is the first chart we’re examining today. BTC’s price is trading between the 1 fibonacci level [$18,077.8] and 0.618 [$28,969.0], at the time of writing.

Bullish traders are hoping they can reclaim territory above BTC’s former ATH of $19,891 from 2017 or they risk facing further downside in the short -term. The overhead targets on BTC are 0.618, 0.5 [$36,641.4], 0.382 [$44,313.8], 0.236 [$53,806.8], and 0 [$69,151.6].

Bearish traders are looking to push BTC’s price below the most recent low that was made earlier this year of $17,611 if they succeed in breaking the 1 fibonacci level.

BTC/USD 1W chart: the price is trading between the 1 fibonacci level $18,077.8] and 0.618 [$28,969.0]

The Fear and Greed Index is 23 Extreme Fear and is +2 from Monday’s reading of 21 Extreme Fear.

Fear and Greed
The Fear and Greed Index is 23 Extreme Fear

Bitcoin’s Moving Averages: 5-Day [$19,720.64], 20-Day [$20,283.67] 50-Day [$21,716.63], 100-Day [$24,200.62], 200-Day [$33,267.1], Year to Date [$32,121.57].

BTC’s 24 hour price range is $18,232.6-$19,686.2 and its 7 day price range is $18,232.6-$22,534.61. Bitcoin’s 52 week price range is $17,611-$69,044. 

The price of Bitcoin on this date in 2021 was $43,002. 

The average price of BTC for the last 30 days is $20,470.3 and its -18.2% over the same period. 

Bitcoin’s price [+0.62%] closed its daily candle valued at $19,538.7 on Monday and back in green figures for the third time over the last four days. 

Ethereum Analysis 

Ether’s price has dropped more than 1% per day over the last 30 days and bullish traders are looking for a reprieve from bearish selling pressure. That pressure was slightly reduced on Monday and ETH’s price concluded its daily session +$40.89. 

The ETH/USD 4HR chart below by peterbhc is the second chart we’re providing analysis for today. Ether’s price is trading between the 0 fib level [$1,281.88] and 0.236 [$1,402.04], at the time of writing.

If bullish Ether traders want to try and stop the bleeding to the downside of the 4HR time frame they need to regain the 0.236 with a secondary target of 0.382 [$1,476.38]. The third target for bullish traders is 0.5 [$1,536.47], followed by targets of 0.618 [$1,696.55], 0.786 [$1,682.09], and 1 [$1.791.05]. 

Bearish traders are conversely aiming to push ETH’s price below the $1,300 level with a secondary target of a full retracement at 0 [$1,281.88].

ETH/USD 4HR chart
ETH/USD 4HR chart: the price is trading between the 0 fib level [$1,281.88] and 0.236 [$1,402.04]

Ether’s Moving Averages: 5-Day [$1,494.19], 20-Day [$1,590.41], 50-Day [$1,603.67], 100-Day [$1,638.15], 200-Day [$2,372.82], Year to Date [$2,255.65].

ETH’s 24 hour price range is $1,280-$1,393.35 and its 7 day price range is $1,280-$1,736.28. Ether’s 52 week price range is $883.62-$4,878. 

Ether’s price on this date in 2021 was $2,975.9. 

The average price of ETH for the last 30 days is $1,585.77 and its -26.7% over the same duration. 

Ether’s price [+3.06%] closed its daily candle on Sunday worth $1,376 and in green digits for the second time in three days. 

Avalanche Analysis

Avalanche’s price also experienced a bounce back on Monday and when traders settled-up to conclude Monday’s daily session, AVAX was +$0.57.

The third and final chart for analysis this Tuesday is the AVAX/USD 1D chart below from SquishTrade. Avalanche’s price is trading between 0.786 [$17.39] and 0.618 [$20.27], at the time of writing.

Bullish Avalanche market participants have targets to the upside of 0.618 [$20.27], 0.5 [$22.3] and 0.382 [$24.33]. 

As noted by the chartist below, if AVAX’s price retests its 2022 low at the 0.786 fibonacci level then we could see a new low for the year put in soon.

AVAX/USD 1D chart
AVAX/USD 1D chart: the price is trading between 0.786 [$17.39] and 0.618 [$20.27]

Avalanche’s Moving Averages: 5-Day [$18.33], 20-Day [$19.81], 50-Day [$22.35], 100-Day [$24.47], Year to Date [$36.8].

Avalanche’s 24 hour price range is $16.39-$17.38 and its 7 day price range is $16.39-$21.67. AVAX’s 52 week price range is $13.75-$146.29. 

Avalanche’s price on this date last year was $57.25. 

The average price of AVAX over the last 30 days is $20.07 and its -33.11% over the same timespan. 

Avalanche’s price [+3.41%] closed its daily session on Sunday worth $17.28.