Bitcoin and Ethereum prices continue to decline amidst concerns around short selling and insufficient liquidity. Experts keep a close eye on whether BTC can touch the $25k mark.
The US Securities and Exchange Commission continues its crackdown on Crypto projects with concerns of unregistered security post the FTX collapse. Trading app Robinhood has received a subpoena regarding registering of assets, amidst this environment.
The Exponential Moving Average for 10-day EMA suggests a “Sell” at 23502.92 and the 200-day EMA indicates a “Buy” at 21744.25. The Simple Moving Average for 10-day SMA is 23725.80 suggesting a “Sell”, whereas the 200-day SMA indicates a “Buy” at 19736.34.
The Ichimoku Base Line, valued at 23323.00, continues to be neutral. The Hull Moving Average indicates a “Buy” at 23183.20. Whereas, the Volume Weighted Moving Average at 23525.31 signals “Sell”.
Major market indicators point to a neutral sentiment. The Relative Strength Index (14) sits at 51.01, with a neutral outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) are at 35.50 and 29.52 respectively, further indicating a neutral market.
The MACD Level (12, 26), at 279.81, indicates a “Sell”. The Stochastic RSI Fast (3, 3, 14, 14) is at 7.91 with a Neutral indicator, while the Williams Percent Range (14) at −78.92 also signals “Neutral”.
As of 10:00 AM, 1st March 2023, on WazirX, the current price of Bitcoin is ₹20,20,997, with a 0.01% increase in the last hour. There was a 0.38% decrease in its price in the last 24 hours. The 7 day BTC was down 1.08%
Ethereum (ETH) is currently trading at ₹1,42,000, with a 1.42% increase in the last hour. There was a 1.04% increase in its price in 24 hours. The 7 day ETH was down 0.93%
Some tokens performed well on WazirX including Synthetics Network Token (SNX), REN (REN) and Civic (CVC) with price increases of 16.58%, 9.42%, and 8.96% respectively.
However, some tokens such as Gifto (GFT), Bakery Token (BAKE), and Nem (XEM) underperformed with price decreases of 11.57%, 10.66%, and 8.96% respectively.
Shiba Inu (SHIB) saw a price decrease of 1.54% and is now priced at ₹0.001085. Dogecoin saw a decrease of 1.23% and is now priced at ₹7.18
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