The overall Crypto market is hovering around its support level which is a tricky state since breakouts above this could take its value over $2 trillion, but in case it fails to do so, the market cap could tumble further.
Bitcoin’s support is being projected at 37k which isn’t an optimistic outlook. However, the market has tried to make the most of the ‘sell the news’ profit which led up to the ETF, a move that wasn’t quite anticipated. The Bitcoin dominance decreased by -0.04% in the last 24 hours, indicating a start to the altseason.
The Exponential Moving Average for a 10-day EMA indicates “Sell” at 42681, and a 200-day EMA indicates “Buy” at 35199. The Simple Moving Average for a 10-day SMA indicates “Sell” at 43110, and a 200-day SMA indicates “Buy” at 33320.
The Ichimoku Base Line, valued at 44824, continues to be neutral. The Hull Moving Average indicates “Sell” at 41569. The Volume Weighted Average indicates “Sell” at 44318.
The Relative Strength Index (14) sits at 41, indicating “Neutral”. The Stochastic %K (14, 3, 3) at 10 and the Average Directional Index (14) at 16 indicate a Neutral outlook.
The MACD Level (12, 26), at -220, indicates “Sell”. The Stochastic RSI Fast (3, 3, 14, 14) at 6 indicates ‘Neutral’, and William’s Percentage at -94 indicates ‘Neutral’ as well.
As of 10:00 AM, 19th January 2024, on WazirX, Bitcoin’s price is ₹35,80,355, with a 0.41% increase in the last 24 hours. There was a 4.22% decrease in its price over the last 7 days.
Ethereum (ETH) is trading at ₹2,16,750. There was an increase of 0.35% in the last 24 hours. There was a 1.94% decrease in its price over the last 7 days.
The top gainers on WazirX include Uma(UMA), Loom Network(LOOM) and Render Token(RNDR) with a price increase of 69.39%, 15.02%, and 9.95%, respectively.
However, the tokens that underperformed comprised Perpetual Protocol (PERP), Fetch.AI(FET), Verge (XVG) with price decreases of 14.32%, 14.28%, and 12.83%, respectively.
Shiba Inu (SHIB) saw a price decrease of 1.35% and is now priced at ₹0.000805. Dogecoin (DOGE) saw a decrease of 2.97% and is now priced at ₹6.80.
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.
