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Bitcoin Has Started A Notable Upward Trend; Market Sentiment Leans Towards Optimism Again

By December 28, 20232 minute read

The current price of Bitcoin (BTC) is $43,389.87, with an almost 0.13% decrease in the last hour. There was an increase of 0.88% in its price in the last 24 hours. The 7-day Bitcoin was up by 0.59%.

Ethereum (ETH) is currently trading at $2,413.31, with an almost 0.15% increase in the last hour. There has been an 8.35% increase in its price in the last 24 hours. The 7-day ETH has been up by 9.69%.

The Exponential Moving Average for 10-days and 200-days indicate a “Buy” sentiment at 43181 and 33147, respectively. Similarly, the Simple Moving Average for 10-day and 200-day SMA indicate a “Buy” at 43353 and 31693, respectively. The Simple Moving Average shows a “Buy” sentiment.

The Ichimoku Base Line, valued at 42017, shows a “Neutral” sentiment for quite a long time, whereas the Hull Moving Average indicates a “Buy” signal at 43048. The Volume Weighted Moving Average at 42694 showed a “Buy” signal.

Major market oscillators point toward a “Neutral” sentiment. The Relative Strength Index (14), one of the key indicators, sits at 57, with a neutral indicator. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) are at 67 and 24, respectively, further indicating a “Neutral” market.

The MACD Level (12, 26) at 903 indicates a “Sell.” The Stochastic RSI Fast (3, 3, 14, 14) is at 27 with a “Neutral” indicator, while the Williams Percent Range (14) at −26 signals “Neutral.”

As of 09:15 AM, 28th December 2023, on WazirX, Bitcoin’s current price is ₹37,84,000, with an almost 1.32% increase in the last hour. There was a 0.67% increase in its price in the last 24 hours. In the past 7 days, Bitcoin was down by 0.49%.

Ethereum (ETH) is trading at ₹2,10,344, with an increase of 6.77% in the last hour. There was an increase of 6.40% in the last 24 hours. The 7-day ETH is up by 9.90%.

The top gainers on WazirX include SKALE Network (SKALE), Arbitrum (ARB), and Aave (AAVE), with price increases of 23.93%, 22%, and 18.23%, respectively.

However, the tokens that underperformed comprised Bonk (BONK), Perpetual Protocol (PERP), and QuickSwap (QUICK), with a price decrease of 8.33%, 7.89%, and 6.5%, respectively.

Shiba Inu (SHIB) saw a price increase of 4.8% and is now priced at ₹0.000960. Dogecoin (DOGE) saw an increase of 2.75% and is now priced at ₹8.2612.

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