Bitcoin, Ethereum, XRP Price Rally on Tuesday
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Bitcoin’s price rebounded a bit from incessant selling on Tuesday and finished its daily candle +$1,245.
The BTC/USD 4HR chart below from vf_investment shows that BTC’s price rallied off of the 100.00% fibonacci retracement level [$36,312.09] and bulls are now trying to re-establish control above the 78.60% fib level [$38,388.93].
Bearish traders conversely are aiming to again send BTC’s price back down to test the 100% fib level with a secondary aim of 161.80% [$30,314.49].
The second BTC chart we’re looking at today is the BTC/USD 1W chart from TradingShot. The chart posits that BTC’s price on this timescale is setting up like the biggest tech giants in the history of the technology industry. Amazon, Google, Apple and now BTC’s chart all resemble each other on the weekly timeframe.
The Fear and Greed Index is 25 Extreme Fear and +5 from Tuesday’s reading of 20 Extreme Fear.
Bitcoin’s Moving Averages: 20-Day [$40,356.13], 50-Day [$43,005.46], 100-Day [$50,711.65], 200-Day [$45,507.65], Year to Date [$41,074.76].
BTC’s 24 hour price range is $36,545-$38,856 and its 7 day price range is $36,545-$44,574. Bitcoin’s 52 week price range is $29,341-$69,044.
The price of bitcoin on this date last year was $48,691.
The average price of BTC for the last 30 days is $39,924.
Bitcoin’s price [+3.36%] closed its daily candle worth $38,299 and in green figures for the first time in three days on Tuesday.
Ethereum Analysis
Ether’s price also rallied in favor of bullish traders on Tuesday and concluded its daily session +$66.76.
The ETH/USD 4HR chart below vf_investment shows the targets for bullish and bearish traders in the short-term. The targets for bullish traders on the 4HR are 78.60% [$2,679.80], 61.80% [$2,812.31], 50.00% [$2,905.39].
The targets for bearish traders to the downside are 100.00% [$2,511.00] and 161.80% [$2,023.54].
Ether’s Moving Averages: 20-Day [$2,830.89], 50-Day [$3,236.19], 100-Day [$3,713.44], 200-Day [$3,216.16], Year to Date [$2,990.51].
ETH’s 24 hour price range is $2,512-$2,653 and its 7 day price range is $2,512-$3,168. Ether’s 52 week price range is $1,353-$4,878.
The price of ETH on this date in 2021 was $1,563.
The average price of ETH for the last 30 days is $2,793.
Ether’s price [+2.60%] closed its daily candle on Tuesday worth $2,637.25 and in green figures for the first time in six days.
XRP Analysis
XRP’s price finished in green digits with many other alt coins across the market on Tuesday and wrapped up its daily candle +$.02.
The XRP/USD 1W chart below from alexandrupaco allows traders to visualize the breakdown of XRP’s price on the weekly time frame.
Bearish XRP traders are taking bullish traders into deeper waters on that timescale and have broken significant support for bulls to the downside below 0.236 [$0.87]. The next major support for bullish traders if they can’t regain some territory above the 0.236 fib level is all the way down to 0 [$0.123].
XRP’s Moving Averages: 20-Day [$0.72], 50-Day [$0.77], 100-Day [$0.91], 200-Day [$0.90], Year to Date [$0.73].
XRP’s 24 hour price range is $0.68-$0.72 and its 7 day price range is $0.68-$0.84. XRP’s 52 week price range is $.40-$3.4.
XRP’s price on this date last year was $0.47.
The average price of XRP over the last 30 days is $0.71.
XRP’s price [+2.76%] closed at $0.72 and in green figures on Tuesday.
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