Connect with us

Ethereum

Ethereum analysis, bulls in command. Solana + 37%

Published

on

Ethereum analysis 

Monday’s daily candle on Ethereum showed negative signs, as well as humiliation from Solana’s incredible leap on the same day, where it rose as much as 37%.

While ETH hasn’t had a big upward move , the bulls are still controlling the momentum. The bulls of Ether control a major level above $ 3k and may be headed to test the resistance of the $ 3k support for a third time. The two previous touches each resulted in a nice bounce up for ETH bullish traders.

The next major upside target for the Ether bulls is $ 3,630, and bullish traders need to keep checking the level between $ 3k and the most recent high of $ 3,334.

Advertisement

The following chart from CryptocurrencyMagnet shows that Ether is still bullish despite rising 64.1% over the past 30 days. However, if the bears manage to push the price below $ 3k, the next downside target will be $ 2,640 on the 1D chart.

The 24-hour ETH price range is $ 3,133- $ 3,334, and the 7-day price range is $ 3,000- $ 3,334. The average price of Ether over the past 30 days is $ 2,595. ETH’s 52-week range is $ 320 – $ 4,352.

Ether [-4.89%] closed Monday’s daily candle in the red.

Solana analysis 

There were quite a few people convinced that Solana was going to have a great summer performance, and now it’s paying off. 

Advertisement

The expected price action dubbed ‘Sol Summer’ by Solana’s bulls is now here; how much higher can bulls carry the price of SOL?

The chart below from diddy4 shows the potential for Solana’s bulls to take the price of SOL over $ 100 by October and to even higher levels than ever before – SOL made a new all-time high of $ 68.24 on Monday.

In the short term, Solana’s bulls must control the price above its previous ATH of $ 58.03. A back-test of this region is not out of the question, so it will be crucial for bullish traders to hold this level if the market tests the old ATH.

Solana is + 145% against the US dollar and in the last 30 days, + 68.31% against BTC and + 45.7% against ETH over the same period.

Advertisement

SOL [+ 11.81%] closed the daily candle on Monday with a value of $ 62.41 and in green figures for the second consecutive day. Solana also closed the daily candle on Sunday for a fifth consecutive close higher on the weekly time scale.

News Source