Skip to main content

Bitcoin price settles above $27000, liquidity crunch grapples market

By May 23, 20232 minute read

Market liquidity concerns plague the Crypto ecosystem as Bitcoin hovers around $27000. BTC’s Hull Moving Average which follows the latest price activity besides its long term movement, indicates a ‘Buy’ sentiment as its narrative continues to be that of a hedge.

The Exponential Moving Average for 10-day EMA indicates “Sell” at 27064 and 200-day EMA indicates “Buy” at 24963. The Simple Moving Average for 10-day SMA indicates “Buy” at 27003 and 200-day SMA indicates “Buy” at 22651. 

The Ichimoku Base Line, valued at 27881, continues to be neutral. The Hull Moving Average indicates “Buy” at 26861. The Volume Weighted Moving Average indicates “Sell” at 27469.

Major market oscillators point to a neutral sentiment. The Relative Strength Index (14) sits at 44, with a neutral outlook. The Stochastic %K (14, 3, 3) at 42 and the Average Directional Index (14) at 26 indicate a Neutral outlook as well.

The MACD Level (12, 26), at −399, indicates “Sell”. The Stochastic RSI Fast (3, 3, 14, 14) is “Neutral” at 62 and William’s Percentage is “Neutral” at −50 as well.

As of 10:00 AM, 23rd May 2023, on WazirX, Bitcoin’s price is ₹23,74,996, with an almost 0% change in the last hour. There was a 2.28% increase in its price in the last 24 hours. In the past 7 days, Bitcoin was up by 0.73%.

Ethereum (ETH) is trading at ₹1,62,403. There was an increase of 3.50% in the last 24 hours. The 7-day ETH is up by 3.81%.

The top gainers on WazirX include Alchemy Pay (ACH), FTX Token (FTT), and Ontology (ONT), with a price increase of 12.6%, 10%, and 9.98%, respectively.

However, the tokens that underperformed comprised Tellor (TRB), dYdX(DYDX), and Neo (NEO), with a price decrease of 8.63%, 7.77%, and 7.22%, respectively.

Shiba Inu (SHIB) saw a price increase of 2% and is now priced at ₹0.000765. Dogecoin (DOGE) saw a decrease of 0.3% and is now priced at ₹6.33.

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.
Participate in the Indian Crypto Movement. Share:

Leave a Reply

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.