Technical Analysis Weekly: Bitcoin, Ethereum, Solana & More

Bitcoin Technical Analysis for Short-Term

Source: Tradingview

• Bitcoin price maintained a notable ascending pattern, but with the recent drop, the asset sliced through the trend line and plunged below
• The selling volume has intensified and hence the downtrend may continue throughout the weekend or until the BTC price hits the strong support levels
• The RSI has smashed the lower levels where-in it is attempting for a flip but it may not succeed as MACD is extremely bearish
• Therefore, if the BTC price breaks through $36,800 then it may head towards $34,000 or lower depending on the volume

Also Read: Bitcoin(BTC)/USDT Technical Analysis

Ethereum Technical Analysis for Short Term

Source: Tradingview

• Ethereum price is trending within a huge symmetrical triangle since the beginning of 2022 and approaching the apex slowly 
• The previous pullback had dragged the price out of the triangle but it quickly reversed the trend and continued its swing within the triangle
• The asset is attempting to rebound from the lower levels and with the flip, the ETH price may continue surging towards the upper resistance initially at $2720 and later at $2800
• However, the asset may hover within the triangle for the next fortnight and eventually by elevating the support levels, may reach the apex at $2882 and finally ignite a notable breakout.

Also Read: Ethereum(ETH)Technical Analysis: Will ETH Price Break-Down Below $2000

Solana Technical Analysis for Short-term

Source: Tradingview

• Solana price is currently showing some strength after a strong depleted trend as the buyers appear to have entered the ring 
• A flip from here may uplift the price towards the immediate resistance levels around $93 
• The asset may continue to surge further or else get rejected but may remain swinging within the triangle for another couple of days until it reaches the apex
• However, after reaching the apex, the asset is expected to slice through the upper resistance triangle to hit the strong resistance close to $115

Also Read: Solana (SOL)/USDT Technical Analysis

Shiba INU Technical Analysis for Short-Term

Source: Tradingview

• Shiba INU price spiked high at the beginning of February 2022, however, the asset quickly absorbed a notable descending trend to hit the crucial support zones
• However, the SHBI price quickly flipped from these levels and surged high to hit the upper resistance. Currently, the price is attempting to repeat the same move.
• Yet to do so, the asset needs to slice through the important resistance ground $0.0000250 which may clear the path to $0.00002700 levels
• Yet the crucial resistance remains around $0.0000300 which may further validate a strong uptrend towards the new highs.

Also Read: Shiba Technical Analysis: Will SHIB Price Break From the Descending Trend?

Polygon Technical Analysis for Short-Term

Source: Tradingview

• Matic price currently is attempting a flip but the volume may not allow it to do so and hence the possibilities to test the lower support of the triangle are high
• After hitting the lower support, the price may attempt a flip and rise high to achieve $1.5 levels which may be followed by a retest to the lower support again
• Now the price could have approached the apex and hence a strong breakout from the consolidation may be imminent
• Yet to surpass the $2 levels, the Polygon price needs to attain $1.8 levels holding extreme bullish momentum

Also Read: Polygon(MATIC) Technical Analysis: This is When MATIC Price May Hit $2!

Terra Technical Analysis for Short-Term

Source: Tradingview

• Terra(LUNA) price showcased a huge bullish momentum in the past couple of days which remained less impacted by the ongoing Russia-Ukraine conflict
• Yet since the beginning of the present month, the price began to consolidate and ignited a strong plunge since the early trading hours
• The price ranged along with the upper levels of the Bollinger Bands and during the consolidation, the bands faced a squeeze which resulted in a drastic plunge
• No doubt the asset is attempting a flip, but if the buying volume gets intensified a little then a quick leap from the downtrend is pretty much possible during the weekend

Also Read: Terra LUNA Technical Analysis: Will LUNA Price Hit a 4-Digit Milestone in 2022?

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