Price Analysis for Crypto market leaders, Bitcoin, Ethereum, Litecoin

The general crypto market moves in retrospect of Bitcoin(BTC) Ethereum(ETH) and Litecoin (LTC) because they’re built on the layer 1 blockchain,

Volatility in the market is determined by these coins which is why In this article, we analyzed the top 3 cryptocurrencies to determine the movement of the market. 

Bitcoin Analysis 

Bitcoin’s price declined by 0.4% and by the end of today’s trading session, the BTC price was $16,775

BTC/USD 4HR chart shown below. 

At the time of writing, the price of BTC is fluctuating between the 0.618 and 0.786 Fibonacci levels, or between $16,682.39 and $16,957.07. 

If bullish traders can regain the 0.786 Fibonacci level, their next objective is to break out of the current wedge pattern in which BTC’s price is trading at $17,366.87. 

Bearish BTC traders are at odds with bullish BTC traders and hope to short BTC’s price outside the pattern and below the $16,739.31 level if the wedge pattern breaks to the downside. Below this level, those short BTC have targets of 0.618, 0.236 [$16,069.20], 0.146 [$15,924.73], and 0 [$15,690.37] for a full retracement. 

The price is trading between the 0.618 Fibonacci level [$16,682.39] and the 0.786 Fibonacci level [$16,952]. .07] 

The Fear and Greed Index is currently at 25 Extreme Fear, a decrease of -4 points from Wednesday’s reading of 29 Fear. 

The crypto market Fear and Greed Index indicates extreme fear 

• 5-Day [$16,949.63]
•  20-Day [$16,676.13]
• 50-Day [$18,464.16]
• 100-Day [$19,947.33]
• 200-Day [$26,339.56]

The average price of Bitcoin over the past 30 days has been $16,988, a decrease of -21% over the same period. 

Wednesday’s Bitcoin price [-1.47%] daily candle closed at $16,844. 

Analysis of Ethereum 

Wednesday also saw a decrease in Ether’s price, which ended the day’s trading at -$40.22. 

 At the time of publication, the price of Ethereum is fluctuating between the 0.7 Fibonacci level [$1,015.09] and the 0.9 Fibonacci level [$1,282.00]. 

0.9, 1 [$1,413.96], 1.42 [$1,972.36], 2.5 [$3,408.27], and the 3 Fibonacci levels [$4,074.04] are the overhead targets on ETH for bullish traders who anticipate further gains. 

Those who are still shorting the ETH market have a primary target at the 0.7 fib level, with additional targets at 0.618 [$906.07], 0.5 [$749.18], 0.33 [$523.16], 0.25 [$416.80], 0.17 [$310.43], 0.08 [$190.78], and 0 [$84.41] for a full retracement. 

ETH/USD 4hr candlestick chart:

The price is trading between the 0.7 fib level [$1,015.09] and the 0.9 fib level [$1,281] .00] 

The 24-hour price range for ETH is $1,218.01 to $1,278.69, and the 7-day range is $1,218.01 to $1,302.22. The 52-week price range for ether is $883.62 to $4,485.76. 

The average price of ETH over the past 30 days is $1,246.47, representing a decrease of -24.07% over the same period. 

The price of Ether dipped by  [-3.16 %] in yesterday’s trading session and ended with a value of $1,231.03

Analysis of the Litecoin Price 

Litecoin’s price followed the macro cryptocurrency sector downwards on Wednesday, and by the end of the trading day, LTC’s price was -$3.05 per coin. 

The LTC/USD 4hr chart will be the last analyzed on Thursday. At the time of publication, the price of LTC is fluctuating between the 0.08 Fibonacci level [$71.152] and 0.17 Fibonacci level [$98.207]. 

Bullish traders of the Litecoin market have 0.17, 0.25 [$122.255], 0.33 [$146.304], 0.5 [$197.408], 0.618 [$232.880], 0.7 [$257.530], 0.9 [$317.652], and the 1 fib level as their overhead targets. 

Bearish LTC traders have 0.8 as their downside target and 0 as their full retracement level [$47.103]

LTC/USD 4hr candlestick chart: the price is trading between the 0.08 Fibonacci level [$71.152] and 0.17 Fibonacci level [$98.00] .207] 

The 24-hour price range for Litecoin is $75.5 to $80.4, and the 7-day price range is $75.5 to $83.68. LTC’s 52-week price range is $40.4-$167.1. 

Last year on this date, the price of Litecoin was $165.00. 

The average price of LTC over the past thirty days has been $68,6 and has increased by 10.75% over the same period. 

The daily candle for Litecoin’s price [-3.82%] closed Wednesday at $76.85 and in the red for the second consecutive day.