Bitcoin (29k), Ethereum (1.7K), Algorand Price Analyses

Bitcoin Analysis 

Bitcoin’s price rallied nearly 5% during Monday’s daily session and BTC’s price concluded Monday’s frame +$1,441.6.  

The first chart we’re looking at today is the BTC/USD 1D chart from micah_trader. BTC’s price is trading between the 1 fibonacci level [$19,918.98] and 1.618 [$30,274.84], at the time of writing. 

The chartist posits that maybe BTC’s just finished an ABC correction within the Wave 4 corrective wave. 

The overhead targets for bullish BTC market participants are 1.618, 2.618 [$47,033.51], 3.618 [$63,792.19], and 4.236 [$74,149.05].

Bearish traders that are short the BTC market are looking to do the opposite and send BTC’s price below the 1 fib level followed by 0.786 [$16,331.62], 0.702 [$14,923.89], and 0.618 [$13,516.16].

The second chart we’re analyzing today is the BTC/USD 1W chart below from @BTCfuel. 

We can see that BTC’s price painted an inverted bullish hammer on the weekly time frame and technical traders carried that momentum into the new week on Monday. 

The Fear and Greed Index is 15 Extreme Fear and is +2 from Monday’s reading of 13 Extreme Fear. 

Bitcoin’s Moving Averages: 5-Day [$30,545.76], 20-Day [$29,844.62], 50-Day [$36,514.20], 100-Day [$38,544.62], 200-Day [$45,411.10], Year to Date [$39,031.17].

BTC’s 24 hour price range is $29,917-$31,680 and its 7 day price range is $29,479-$32,206. Bitcoin’s 52 week price range is $26,600-$69,044. 

The price of Bitcoin on this date last year was $33,596. 

The average price of BTC for the last 30 days is $30,418 and BTC’s -14.1% over the same duration. 

Bitcoin’s price [+4.84%] closed its daily candle worth $31,371 and in green figures for a third consecutive day.

Ethereum Analysis 

Ether’s price also traded higher at the daily session’s close than at the session’s open on Monday and ETH’s price finished +$53.86.

We’re looking at the ETH/USD 1W chart below by Mr_12Tails thirdly for Tuesday. ETH’s price is trading between 78.60% [$1,108.40] and 61.80% [$1,918.38], at the time of writing. 

The first target for bullish traders is 61.80% followed by 50.00% [$2,487.30], 38.20% [$3,056.21], and a full retracement at 0.00% [$4,897.95].

Conversely, the primary target for bearish traders is 78.60% followed by 88.70% [$621.45], 94.20% [$356.27]. 

Ether’s Moving Averages: 5-Day [$1,846.73], 20-Day [$1,951.31], 50-Day [$2,605.89], 100-Day [$2,710.38], 200-Day [$3,275.53], Year to Date [$2,776.92].

ETH’s 24 hour price range is $1,805-$1,915 and its 7 day price range is $1,751-$1,996. Ether’s 52 week price range is $1,707-$4,878. 

The price of ETH on this date in 2021 was $2,317.13. 

The average price of ETH for the last 30 days is $2,017.17 and Ether’s -32.29% over the same timespan. 

Ether’s price [+2.98%] closed its daily candle on Monday worth $1,860 and ETH’s finished in green figures for three straight days. 

Algorand Analysis

Algorand’s price had the best Monday by percentage of today’s lot and concluded its daily session up by more than 5% and +$0.0208. 

The ALGO/USD 4HR chart below from abolvardimeisam shows ALGO bumping up against resistance at $0.435. Bullish ALGO traders need to eclipse $0.463 to break that range and head to test the next overhead target. 

Bearish ALGO traders are hoping to reject bulls at the aforementioned level. If they succeed, bearish traders will be looking to then put in 12 month lows for ALGO’s price. 

Algo’s Moving Averages: 5-Day [$0.389], 20-Day [$0.453], 50-Day [$0.643], 100-Day [$0.775], 200-Day [$1.240], Year to Date [$0.836].

Algorand’s 24 hour price range is $0.391-$0.423 and its 7 day price range is $0.368-$0.423. Algorand’s 52 week price range is $0.353-$2.855.  

Algorand’s price on this date last year was $0.963.  

The average price of ALGO over the last 30 days is $0.458 and ALGO’s -34.18% over the same time frame. 

Algorand’s price [+5.3%] closed its daily candle on Monday worth $0.413 and ALGO’s also closed in green digits for three days in a row.