ADA, DOT, ETH, and SOL Weekly Review – ADA and ETH Lead on Network Updates

Key insights:

  • It’s a bullish week, with the total cryptocurrency market cap increasing by $ 28.9 billion to $ 950.4 billion.
  • Cardano (ADA) and Ethereum (ETH) lead the way, with news of Vasil’s hard fork and sentiment towards the merger offering weeks of breakout.
  • However, technical indicators remain mixed, with market sentiment towards the Fed headwind.

In the current week, the total market capitalization of cryptocurrencies increased by $ 28.9 billion (3.14%) to $ 950.4 billion. US economic indicators and market sentiment towards Fed monetary policy provided guidance over the week. While the Fed fear remained a headwind, news on the crypto network provided support.

Crypto Market Cap Weekly 040922

For the current week, from Monday to Sunday, Cardano (ADA) is at the forefront. Ethereum (ETH) also found strong support, while Solana (SOL) and Polkadot (DOT) lagged behind.

Cardano ADA

For the current week, Monday through Sunday, the ADA is up 15.6% to $ 0.496. Bullish since the start of the week, ADA climbed from a Monday low of $ 0.424 to a Sunday high of $ 0.510 before easing back.

Despite the bullish week, the ADA did not hit the August high of $ 0.595. Throughout the week, updates to the Vasil hard fork have provided support on ADA pricing.

Earlier in the week, news of the 75% SPO nodes update to v1.35.3 provided pricing support. However, Friday’s announcement of a Vasil hard fork date for September 22 led to a breakout weekend and a return to $ 0.51.

Based on trend analysis, ADA is expected to break out of the August high of $ 0.595 to break out of the June high of $ 0.6688 and hit the May high of $ 0.906. A return to $ 0.55 early in the week will be key. However, a drop from this week’s August low of $ 0.425 would bring the May and current year low of $ 0.384 in sight.

Vasil hard fork chatter should continue to provide guidance.

ADAUSD 040922 Daily Chart

Looking at the 4-hour EMA, it was a bullish sign. The ADA has remained above the 200-day EMA, currently at $ 0.481. The 100-day EMA has narrowed to the 200-day EMA, with the 50-day EMA approaching the 100-day EMA to provide positive price signals.

A bullish cross from the 50-day EMA through the 100-day EMA would support a run to the August high. However, a drop from the 200-day EMA ($ 0.481) would likely test the support of the 100-day EMA ($ 0.470). Barring a cryptocurrency slump, ADA is expected to avoid the August low of $ 0.425.

ADAUSD 040922 4-hour chart

Pois (DOT)

From Monday to Sunday, DOT is up 4.80% to $ 7.20. A mixed start to the week saw the DOT drop to a Monday and August low of $ 6.79 before climbing to a Friday high of $ 7.57. However, a bearish weekend brought DOT back below $ 7.30.

There have been no network updates to provide DOT support, with DOT briefly making it into the top ten cryptocurrency by market cap before retiring.

Looking at the trends, a DOT move through the August high of $ 9.68 would support a run at $ 10.00 and the June high of $ 10.73. From $ 10.73, DOT would have a net run to a May high of $ 16.44.

However, DOT must avoid the August low of $ 6.79 to prevent a continued retracement to the current year low of $ 5.99. While network updates will affect, Fed Fear keeps US economic indicators in the spotlight.

DOTUSD 040922 Daily chart

Looking at the 4-hour EMA, the signal was bearish. The DOT has sat below the 50-day EMA, currently at $ 7.24. The 100-day EMA has fallen from the 200-day EMA, while the 50-day EMA has narrowed to the 200-day EMA. The indicators provided mixed price signals.

A drop in the DOT from the 50-day EMA would likely see the DOT slide through the August low of $ 6.79 to bring the current year’s low of $ 5.99 into view. However, a DOT move through the 100-day EMA ($ 7.43) to $ 7.50 would give the bulls a run to the 200-day EMA ($ 7.67). A return to $ 8.00 would bring the August high of $ 9.68 into play.

DOTUSD 040922 4-hour chart

Ethereum (ETH)

From Monday to Sunday, ETH was up 8.98% to $ 1,554. A mixed start to the week saw ETH drop to a Monday and August low of $ 1,421 before climbing to a Friday high of $ 1,650.

Investor sentiment towards the upcoming merger continued to provide support on ETH prices.

Looking at the trends, a return of ETH to $ 1,700 would support a breakout from the August high of $ 2,013 and a move to $ 2,500. At $ 2,500, the bulls would point to the May high of $ 2,968 and $ 3,000. A return to $ 3,000 would give the bulls a run to the April high of $ 3,582.

A fall through the August low of $ 1,421 would bring the June and current year low of $ 880 into view.

ETHUSD 040922 Daily chart

Looking at the 4-hour EMA, it was a bearish sign. The ETH has remained below the 50-day EMA, currently at $ 1,568. The 50-day EMA has fallen from the 200-day EMA, with the 100-day EMA down from the 200-day EMA, both negative ETH prices.

A move ETH through the 50-day EMA ($ 1,568) would support a run to the 100-day EMA ($ 1,602) and the 200-day EMA ($ 1,620). A breakout of the 200-day EMA would give the bulls a run to the August high of $ 2,031.

However, a fallback to the 50-day EMA would bring the August low of $ 1,421 in sight.

ETHUSD 040922 4-hour chart

Solana (SOL)

From Monday to Sunday, SOL was up 3.95% to $ 31.6125. Following the broader market, SOL fell to a Monday and August low of $ 29.9150 before climbing to a Tuesday high of $ 33.1725.

US economic indicators and market sentiment towards the Fed provided guidance throughout the week.

Looking at the trends, a move through the August high of $ 48.42 would give the bulls a run to the May high of $ 95.19. SOL would need a lot of support to get out of $ 75.

However, a fall through the August low of $ 29.9150 would give the bears a run to the June and current year low of $ 25.78.

SOLUSD 040922 Daily chart

Looking at the 4-hour EMA, it was a bearish sign. SOL has traded below the 50-day EMA, currently at $ 32.0634

The 50-day EMA has fallen from the 200-day EMA, with the 100-day EMA retreating from the 200-day EMA, both of which are negative prices.

A drop in the 50-day EMA SOL would bring less than $ 30 into play and the August low of $ 29.9150. From under $ 30, bears will be aiming for a June 14 and current year low of $ 25.78.

However, a SOL breakout of the 50-day EMA ($ 32.0634) would support a run to the 100-day EMA (33.8112). A SOL move through the 100-day EMA offers the bulls a run to the 200-day EMA ($ 36.0668) and $ 40.

SOLUSD 040922 4-hour chart

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