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BTC Is Trading Near $28k; Major Market Indicators Show “Neutral” Sentiment

By May 2, 20232 minute read

As of now, the current price of Bitcoin (BTC) is $27,995.52, with an almost 0.01% increase in the last hour. There was a decrease of 1.91% in its price in the last 24 hours. The 7-day Bitcoin was up by 2.12%.

Ethereum (ETH) is currently trading at $1,824.75, with an almost 0.17% decrease in the last hour. There has been a 0.86% decrease in its price in the last 24 hours. The 7-day ETH has been down by 0.35%.

The Exponential Moving Average for 10-days and 200-days indicate a “Sell” and “Buy” at 28594 and 24363, respectively. Similarly, the Simple Moving Average for 10-days and 200-day SMA indicates a “Sell” and “Buy” at 28515 and 21847, respectively. Both moving averages strongly show a mixed sentiment.

The Ichimoku Base Line, valued at 29008, shows a “Neutral” sentiment for quite a long time, whereas the Hull Moving Average indicates a “Sell” signal at 28571. The Volume Weighted Moving Average at 28870 showed a “Sell” signal.

Major market oscillators point toward a “Neutral” sentiment. The Relative Strength Index (14), one of the key indicators, sits at 45, with a neutral outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) is at 41 and 23, respectively, further indicating a “Neutral” market.

The MACD Level (12, 26) at 92 indicates a “Sell.” The Stochastic RSI Fast (3, 3, 14, 14) is at 35 with a “Neutral” indicator, while the Williams Percent Range (14) at −72 signals “Neutral.”

As of 09:00 AM, 02nd May 2023, on WazirX, Bitcoin’s current price is ₹24,66,500, with an almost 2.13% decrease in the last hour. There was a 2.24% decrease in its price in the last 24 hours. In the past 7 days, Bitcoin was down by 3.31%.

Ethereum (ETH) is trading at ₹1,61,491, with a decrease of 1.52% in the last hour. There was a decrease of 2.44% in the last 24 hours. The 7-day ETH is down by 1.88%.

The top gainers on WazirX include IDEX (IDEX), iExecRLC (RLC), and UMA (UMA), with a price increase of 9.69%, 6.4%, and 5.41%, respectively.

However, the tokens that underperformed comprised Blur (BLUR), Cartesi (CTSI), and Alchemy Pay (ACH), with a price decrease of 12.07%, 8.92%, and 8.5%, respectively.

Shiba Inu (SHIB) saw a price decrease of 0.66% and is now priced at ₹0.000890. Dogecoin (DOGE) saw a decrease of 0.97% and is now priced at ₹7.0000.

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