Skip to main content

Bitcoin rests below $27000 after a week of fluctuations

By May 22, 20232 minute read

Bitcoin’s price correction prompts some bullish forecast from experts about its price breakthrough and future. Memecoins continue to generate buzz as key token prices increase.

The market cap for stablecoins has been on a decline this year despite a steady increase in the market cap of the overall Crypto ecosystem since the beginning of 2023. 

The Exponential Moving Average for 10-day EMA indicates “Sell” at 27033 and 200-day EMA indicates “Buy” at 24940. The Simple Moving Average for 10-day SMA indicates “Sell” at 26961 and 200-day SMA indicates “Buy” at 22621. 

The Ichimoku Base Line, valued at 27881, continues to be neutral. The Hull Moving Average indicates “Sell” at 26784. The Volume Weighted Moving Average indicates “Sell” at 27610.

Major market oscillators point to a neutral sentiment. The Relative Strength Index (14) sits at 40, with a neutral outlook. The Stochastic %K (14, 3, 3) at 35 and the Average Directional Index (14) at 25 indicate a Neutral outlook as well.

The MACD Level (12, 26), at −439, indicates “Sell”. The Stochastic RSI Fast (3, 3, 14, 14) is “Neutral” at 42 and William’s Percentage is “Neutral” at −67 as well.

As of 10:00 AM, 22nd May 2023, on WazirX, Bitcoin’s price is ₹23,49,988, with an almost 1.06% decrease in the last hour. There was a 0.73% decrease in its price in the last 24 hours. In the past 7 days, Bitcoin was down by 0.34%.

Ethereum (ETH) is trading at ₹1,58,200, with an increase of 1.23% in the last hour. There was an increase of 1.04% in the last 24 hours. The 7-day ETH is up by 1.12%.

The top gainers on WazirX include NKN (NKN), Apecoin (APE), and Curve DAO Token (CRV), with a price increase of 9.99%, 6.87%, and 4.92%, respectively.

However, the tokens that underperformed comprised Injective Protocol (INJ), Gifto (GFT), and Pepe (PEPE), with a price decrease of 13.97%, 8.86%, and 6.79%, respectively.

Shiba Inu (SHIB) saw a price decrease of 0.13% and is now priced at ₹0.000750. Dogecoin (DOGE) saw an increase of 1.55% and is now priced at ₹6.35.

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.