Bitcoin, Ethereum, Gala Price Prediction

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Bitcoin Analysis

Bitcoin price closed Tuesday’s daily session in green numbers for the seventh time in the past ten days and +$257.

Today we were looking at the previous two Bitcoin bear markets on the weekly timeframe and the price of Bitcoin now against the BTC/USD 1W chart below from Roral. BTC price is trading between Fibonacci level 0 [$15,743.1] and the 0.113 [$21,751.9]at the time of writing.

Traders will note in the previous two bear markets that once the bottom was hit on BTC, there were months of consolidation and accumulation from bull traders.

For bull market players to potentially signal the lows, they want to regain the 0.113 fib level followed by 0.236 [$28,292.5]0.382 [$36,056.0]0.5 [$42,330.7]and the level of 0.618 fib [$48,605.3].

The bearish outlook is very different and bearish traders are still in control of the overall trend until bullish BTC market participants regain Bitcoin’s previous cycle high of $19,891. They have a primary target on the downside of the 0 Fibonacci level. If they can push the price of BTC below this mark, there will be a new multi-year low on BTC and a further drop will become statistically more likely.

BTC/USD 1W Chart: Price is Trading Between the 0 Fibonacci Level [$15,743.1] and the 0.113 [$21,751.9]The fear and greed index is 26 fear and is equal to Tuesday’s reading.

The fear and greed index is 26

Bitcoin Moving Averages: 5 Days [$16,997.07]20 days [$16,922.89]50 days [$17,211.63]100 days [$18,532.56]200 days [$23,412.14]Year to date [$16,912.99].

The 24-hour BTC price range is $17,155-$17,506 and its 7-day price range is $16,689-$17,506. The 52-week Bitcoin price range is $15,505 to $48,162.9.

The Bitcoin price on this date last year was $42,725.

The average price of BTC over the last 30 days is $16,914.5 and its +0.5% over the same period.

bitcoin price [+1.50%] closed its daily candle worth $17,445 and in positive numbers for the third day in a row on Tuesday.

Ethereum Analysis

Ether price has risen 5.54% over the past three days and when traders settled in on Tuesday, ETH price was at +$14.65.

The ETH/USD 1D chart below by DannyC914 is the next chart analyzed for this Wednesday. At the time of writing, ETH price is between the 0.618 fibonacci level [$1,303.99] and the level of 0.382 fib [$1,446.43].

The next significant level to recover for bulls is ETH’s 2018 all-time high and the 0.382 fib level [$1,446.43]. Above the 0.382 fibonacci level, the secondary target for Ether market bulls is a full retracement to where the pattern last broke down at the 0 fib level [$1,677.00].

ETH bearish traders attempt to pivot before or at the 0.382 fib level before attempting to push ETH price below the 0.618 fib level [$1,303.99]. The second target for those shorting ETH is level 1 fib [$1,073.42]. If they manage to break the level by 1 fib down, their attention jumps to 1.272 [$909.25]1.382 [$842.45]and the fibonacci level of 1.618 [$700.41].

ETH/USD 1D chart: price is between 0.618 Fibonacci level [$1,303.99] and the level of 0.382 fib [$1,446.43]Moving averages of Ethers: 5 days [$1,282.50]20 days [$1,238.19]50 days [$1,266.90]100 days [$1,359.11]200 days [$1,643.22]Year to date [$1,263.30].

ETH’s 24-hour price range is $1,316.8-$1,347.69 and its 7-day price range is $1,214.55-$1,347.69. The 52-week Ethers price range is $883.62 to $3,579.96.

The price of ETH on this date last year was $3,237.93.

The average price of ETH for the last 30 days is $1,236.77 and its +4.30% for the same duration.

Ether prices [+1.11%] closed its daily candle worth $1,335.14 on Tuesday and in positive numbers for a third day in a row.

Gala Analysis

GALA price has climbed higher for ten of the past twelve days and was up +$0.00101 on Tuesday.

The GALA/USD 1D chart via MonoCoinSignal shows that the price of GALA is trading between the 38.20% Fibonacci level. [$0.03744] and 50.00% [$0.04423]at the time of writing.

As we can see below, over the past few days, bullish traders in GALA have broken through the upper cap of a long-term descending channel. Bullish traders have since bumped into the 50.00% Fibonacci level and closed just below that mark when the Tuesday candle was painted. Above the 50.00% fib level, the bulls have targets of 61.80% [$0.05102]78.60% [$0.0609]100.00% [$0.07301]and 161.80% [$0.10858].

The targets for the GALA market bears are the 38.20% fib level, 23.60% [$0.02903]and a full retracement at the 0 fibonacci level [$0.01545].

GALA/USD 1D chart: Price trading between the 38.20% Fibonacci level [$0.03744] and 50.00% [$0.04423]The 24-hour GALA price range is $0.04-$0.046 and its 7-day price range is $0.0176-$0.046. GALA’s 52-week price range is $0.0155-$0.394.

The price of GALAs on this date in 2022 was $0.32.

The average price of GALA over the last 30 days is $0.021 and its +61.36% over the same duration.

GALA rate [+2.49%] closed at $0.0416 when its daily candle printed on Tuesday.

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