Crypto Market Weekly, Crypto Technical Analysis

Technical Analysis Weekly: Bitcoin, Ethereum, Solana & More

Common

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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Disclaimer: The above views, information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational/ educational purposes only. The content, information, or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, digital assets/ cryptocurrencies or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as legal, financial, investment, or tax advice by the reader. The calculations, data, risk-return formulations, performance, or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors, or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.


 

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