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Bitcoin, Ethereum prices decrease; market indicates ‘Sell’ sentiment

By June 5, 20232 minute read

Bitcoin’s start to the week hasn’t been much different from the last with no significant price movements in sight. Talks around potential risks of CBDC have emerged amidst robust pilot projects taking place in many countries. The European Union seems to be moving swiftly on its regulatory action as countries such as France continue to attract Crypto projects.

The Exponential Moving Average for 10-day EMA indicates “Sell” at 27113 and 200-day EMA indicates “Buy” at 25225. The Simple Moving Average for 10-day SMA indicates “Sell” at 27275 and 200-day SMA indicates “Buy” at 23255. 

The Ichimoku Base Line, valued at 27126, continues to be neutral. The Hull Moving Average indicates “Sell” at 26927. The Volume Weighted Moving Average indicates “Sell” at 27087.

Major market oscillators point to a neutral sentiment. The Relative Strength Index (14) sits at 45, with a neutral outlook. The Stochastic %K (14, 3, 3) at 44 and the Average Directional Index (14) at 18 indicate a Neutral outlook as well.

The MACD Level (12, 26), at −151, indicates “Sell”. The Stochastic RSI Fast (3, 3, 14, 14) is “Neutral” at 46 and William’s Percentage is “Neutral” at 62 as well.

As of 10:00 AM, 5th June 2023, on WazirX, Bitcoin’s price is ₹23,66,805, with an almost 1.30% decrease in the last hour. There was a 0.40% decrease in its price in the last 24 hours. In the past 7 days, Bitcoin was down by 4%.

Ethereum (ETH) is trading at ₹1,67,247. There was an increase of 0.15% in the last hour. The 7-day ETH is down by 1%.

The top gainers on WazirX include Decentraland (MANA), Tellor (TRB), and Standard Tokenization Protocol (STPT)), with a price increase of 10.7%, 9.6%, and 9.42%, respectively.

However, the tokens that underperformed comprised BOB (Bob), NKN(NKN), and Injective Protocol (INJ), with a price decrease of 15.79%, 10.12%, and 8.11%, respectively.

Shiba Inu (SHIB) saw a price decrease of 1.31% and is now priced at ₹0.000752. Dogecoin (DOGE) saw a decrease of 0.17% and is now priced at ₹6.32.

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.
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