The markets slipped into red as Asia opened for business. The price swings continue for key tokens including a rapid shift in market sentiment in under 24 hours as new updates or fund inflows for the Crypto industry come to a stagnation.
India’s push towards CBDC adoption might create a new phase of interest in digital assets for citizens. However, it is a long call and it remains to be seen how much can be achieved in Crypto adoption and regulation as India’s G20 presidency continues.
The Exponential Moving Average for 10-day EMA indicates “Buy” at 29371 and 200-day EMA indicates “Buy” at 27029. The Simple Moving Average for 10-day SMA indicates “Buy” at 29299 and 200-day SMA indicates “Buy” at 26808.
The Ichimoku Base Line, valued at 30196, continues to be neutral. The Hull Moving Average indicates “Buy” at 29591. The Volume Weighted Moving Average indicates “Sell” at 29327.
Major market oscillators point to a “Neutral” sentiment. The Relative Strength Index (14) sits at 43, with a neutral outlook. The Stochastic %K (14, 3, 3) at 42 and the Average Directional Index (14) at 16 indicate a Neutral outlook.
The MACD Level (12, 26), at -156, indicates “Sell”. The Stochastic RSI Fast (3, 3, 14, 14) is “Neutral” at 40 and William’s Percentage too indicates a “Neutral” sentiment at -68.
As of 10:00 AM, 3rd August 2023, on WazirX, Bitcoin’s price is ₹24,93,000. There was a 0.87% decrease in its price in the last 24 hours. The 7 day Bitcoin is down by 2.52%
Ethereum (ETH) is trading at ₹1,58,511. There was an 0.93% increase in the last 24 hours. The 7 day Ethereum is down by 1.36%
The top gainers on WazirX include Band Protocol (BAND), Celo (CELO) and dYdX (DYDX) with a price increase of 12.51%, 11.4%, and 7.64%, respectively.
However, the tokens that underperformed comprised Dash (DASH), Zcash (ZEC), and Ox Protocol (ZRX), with a price decrease of 8.29%, 6.29%, and 6.03%, respectively.
Shiba Inu (SHIB) saw a decrease of 0.70% and is now priced at ₹0.000710. Dogecoin (DOGE) saw an increase of 0.01% and is now priced at ₹6.36.
Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
