Why are crypto on the rise today?

Bitcoin Analysis 

Yesterday and today are days of elation for those in the Bitcoin market because the crypto is finally up, with its best performance in over a month. 

When traders settled-up at the day’s session close, BTC’s price was +$750. 

The first chart we’re looking at today is the BTC/USD 1W chart below from Mynameisnotrelevant. We can see on this chart that BTC’s price is providing bullish traders with a glimmer of hope on the weekly time frame.

Bitcoin’s price has broken above the downtrend that began all of the way back in November after BTC’s price marked its cycle high and all-time high of $69,044 on November 10th, 2021. Therefore, in 15 days it will be an entire year since BTC’s ATH was made and market participants that want to see a reversal to the upside need candle close confirmation on Sunday to imply that a larger move upward could be forthcoming. 

The Fear and Greed Index is 33 Fear and is +13 from Tuesday’s reading of 20 Extreme Fear. 

Bitcoin’s Moving Averages: 5-Day [$19,255.78], 20-Day [$19,460.06], 50-Day [$19,979.75], 100-Day [$21,148.67], 200-Day [$29,796.59], Year to Date [$30,559.93].

BTC’s 24 hour price range is $19,237-$20,415.9 and its 7 day price range is $18,788.33-$20,415.9. Bitcoin’s 52 week price range is $17,611-$69,044. 

The price of Bitcoin on this date last year was $60,290. 

The average price of BTC for the last 30 days is $19,361.7 and its +1.2% over the same stretch. 

Bitcoin’s price [+3.88%]: why is it up today?

Closed its daily candle worth $20,081.4 on Tuesday and in green figures for the fourth time over the last five days. 

Ethereum:the crypto is finally up 

Ether’s price also received more bids on Tuesday than it had during any daily session for the last month and when the day’s candle was painted, ETH’s price was +$115.65. 

The ETH/USD 1D chart below by bitcharger is the second chart we’re looking at today. ETH’s price is trading between the 0.618 fib level [$1,417.43] and 0.5 fib level [$1,534.7], at the time of writing. 

The targets above for bullish Ether market participants are 0.382 [$1,651.96], 0.236 [$1,797.04], and a full retracement at 0 [$2,031.56].

Bearish traders conversely are looking to send ETH’s price below the 0.618 followed by the 0.786 fib level [$1,250.49] and a third aim of 1 [$1,037.83].

Ether’s Moving Averages: 5-Day [$1,322.00], 20-Day [$1,324.25], 50-Day [$1,465.18], 100-Day [$1,439.70], 200-Day [$2,068.21], Year to Date [$2,141.54].

ETH’s 24 hour price range is $1,334.94-$1,525.16 and its 7 day price range is $1,264.48-$1,525.16. Ether’s 52 week price range is $883.62-$4,878.  

The price of ETH on this date in 2021 was $4,129.69. 

The average price of ETH for the last 30 days is $1,317.7 and its +3.95% for the same interval. 

Ether’s price [+8.61%] 

closed its daily session on Tuesday worth $1,459.53 and also finished in positive figures for a fourth time over five days. 

Litecoin Price Analysis

Litecoin’s price was the second ranked performer for the projects covered today and LTC concluded Tuesday +$3.34. 

The final chart for analysis today is the LTC/USD 4HR chart below from BallsOfSteel32. 

LTC’s price has been rejected numerous times over the last two months between the $55.36-$55.99 range. 

Bullish traders successfully closed near the top of that range on Tuesday and they’ll be looking for candle close confirmation above that level today. 

From the perspective of bearish traders, they’re hoping to again send LTC’s price back below the $55.36 level and stall the rally that bullish traders pursued on Tuesday.

Litecoin’s Moving Averages: 5-Day [$19,562.02], 20-Day [$19,517.96], 50-Day [$19,926.21], 100-Day [$21,054.05], 200-Day [$29,691.57], Year to Date [$30,513.77].

Litecoin’s 24 hour price range is $52.28-$56.8 and its 7 day price range is $50.22-$56.8. LTC’s 52 week price range is $40.4-$295.1. 

Litecoin’s price on this date last year was $197.5. 

The average price of LTC over the last 30 days is $52.73 and its +0.86% over the same duration. 

Litecoin’s price [+6.36%] closed its daily candle on Tuesday valued at $55.88 and LTC’s price has finished five of its last six daily sessions in green digits.