Why is crypto on the rise today?
Bitcoin Analysis
Yesterday and today are days of elation for those in the Bitcoin market as the crypto is finally up, with its best performance in over a month.
When traders settled at the close of the day’s session, BTC’s price was +$750.
The first chart we look at today is BTC/USD 1W Chart below from My name is not relevant. We can see that in this diagram BTC’s price gives bullish traders a glimmer of hope on the weekly time frame.
Bitcoin’s price has broken above the downtrend that began way back in November after BTC’s price marked its cycle high and all-time high of $69,044 on November 10, 2021. Therefore, in 15 days it will be a full year since BTC’s ATH was made and market participants those looking to see a reversal to the upside need confirmation on Sunday to suggest a bigger move up could be coming.
The fear and greed index is 33 Fear and is +13 from Tuesday’s reading of 20 Extreme Fear.
Bitcoin’s Moving Average: 5-day [$19,255.78]20 days [$19,460.06]50 days [$19,979.75]100 days [$21,148.67]200 days [$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 +1.2% over the same stretch.
Bitcoin’s price [+3.88%]: why is it up today?
Clost its daily candle worth $20,081.4 on Tuesday and in the green for the fourth time in 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 in the past month and when daylight was painted, ETH’s price was +$115.65.
The ETH/USD 1D Chart below of bit loader is the second chart we look 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 above goals for bullish Ether market participants is 0.382 [$1,651.96]0.236 [$1,797.04]and a full retracement of 0 [$2,031.56].
Bearish traders conversely wants to send ETH’s price below 0.618 followed by the 0.786 fib level [$1,250.49] and a third goal with 1 [$1,037.83].
Ether’s Moving Average: 5-day [$1,322.00]20 days [$1,324.25]50 days [$1,465.18]100 days [$1,439.70]200 days [$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 +3.95% for the same interval.
Ether price [+8.61%]
ended its daily session on Tuesday worth $1,459.53 and also ended in positive numbers for the fourth time in 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 last chart for analysis today is LTC/USD 4HR Chart below from BallsOfSteel32.
LTC’s price has declined several times in the last two months between $55.36-$55.99.
Bullish traders successfully closed near the top of that range on Tuesday and they will look for confirmation from candles above this level today.
From the perspective of bearish tradershoping to once again send LTC’s price back below the $55.36 level and stop the rally that bullish traders followed on Tuesday.
Litecoin’s Moving Average: 5-day [$19,562.02]20 days [$19,517.96]50 days [$19,926.21]100 days [$21,054.05]200 days [$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 in 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 at $55.88 and LTC’s price has closed five of the last six daily sessions in the green.
