SEC’s targeting of Binance and Coinbase witnessed a plunge in Crypto prices. However tokens such as Ethereum which was not mentioned as securities, saw an increase in its price due to positive user sentiment.
Amidst heavy reliance on stablecoins and BTC for investors, the market expects more regulatory clarity post the SEC’s verdict.
The Exponential Moving Average for 10-day EMA indicates “Sell” at 26959 and 200-day EMA indicates “Buy” at 25251. The Simple Moving Average for 10-day SMA indicates “Sell” at 27084 and 200-day SMA indicates “Buy” at 23353.
The Ichimoku Base Line, valued at 26901, continues to be neutral. The Hull Moving Average indicates “Sell” at 26930. The Volume Weighted Moving Average indicates “Sell” at 26580.
Major market oscillators point to a neutral sentiment. The Relative Strength Index (14) sits at 48, with a neutral outlook. The Stochastic %K (14, 3, 3) at 41 and the Average Directional Index (14) at 21 indicate a Neutral outlook as well.
The MACD Level (12, 26), at −191, indicates “Buy”. The Stochastic RSI Fast (3, 3, 14, 14) is “Neutral” at 41 and William’s Percentage indicates “Neutral” at -50 as well.
As of 10:00 AM, 7th June 2023, on WazirX, Bitcoin’s price is ₹23,68,989, with 1.50% increase in the last hour. There was a 1.10% decrease in its price in the last 24 hours. In the past 7 days, Bitcoin was down by 0.30%.
Ethereum (ETH) is trading at ₹1,66,999. There was an increase of 1.83% in the last 1 hour. There was a 0.30% increase in the last 24 hours.
The top gainers on WazirX include Injective Protocol (INJ), Pepe (PEPE), and Request Network (REQ), with a price increase of 14.66%, 11.02%, and 10.44%, respectively.
However, the tokens that underperformed comprised Arweave (AR), ApeCoin (APE), and dYdX (DYDX), with a price decrease of 10.53%, 9.91%, and 9.89%, respectively.
Shiba Inu (SHIB) saw a price increase of 0.13% and is now priced at ₹0.000720. Dogecoin (DOGE) saw a increase of 1.65% and is now priced at ₹6.15.
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.
