As Bitcoin undergoes further dip, experts point to a price correction for the token for its future growth. PEPE token has gone down significantly after creating a market buzz in the previous week.
US regulatory hurdles continue to pose challenges for the largest user base of Crypto and businesses who have set up shop there.
The Exponential Moving Average for 10-day EMA indicates “Sell” at 27810 and 200-day EMA indicates “Buy” at 24727. The Simple Moving Average for 10-day SMA indicates “Sell” at 28142 and 200-day SMA indicates “Buy” at 22295.
The Ichimoku Base Line, valued at 28525, continues to be neutral. The Hull Moving Average indicates “Sell” at 26730. The Volume Weighted Moving Average indicates “Sell” at 28444.
Major market oscillators point to a neutral sentiment. The Relative Strength Index (14) sits at 37, with a neutral outlook. The Stochastic %K (14, 3, 3) at 12 and the Average Directional Index (14) at 19 indicate a Neutral outlook as well.
The MACD Level (12, 26), at −317, indicates “Sell”. The Stochastic RSI Fast (3, 3, 14, 14) is “Neutral” at 0 and William’s Percentage is “Neutral” at −97 as well.
As of 10:00 AM, 10th May 2023 on WazirX, Bitcoin’s price is ₹23,71,391, with a 1.19% decrease in the last 24 hours. The 7 day BTC was down 5.89%.
Ethereum (ETH) is trading at ₹1,59,900, with a decrease of 1.24% in the last 24 hours. There was a 4.82% increase in the last 7 days.
The top gainers on WazirX include Decred (DCR), Icon (ICX), and Komodo (KMD), with a price increase of 17.46%, 11.62%, and 10.44%, respectively.
However, the tokens that underperformed comprised PEPE (Pepe), Gifto (GFT), and pNetwork (PNT), with a price decrease of 34.26%, 15.42%, and 14.64%, respectively.
Shiba Inu (SHIB) saw a price increase of 4.37% and is now priced at ₹0.000765. Dogecoin (DOGE) saw a decrease of 3.02% and is now priced at ₹6.39.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.