An anticipated rate hike by the Fed in May impacted the Crypto market as BTC went a little below $30,000 levels. In the aftermath of the recent banking crisis, there may be restrictions in banks’ lending policies and a credit crunch in the market. 

Shiba Inu saw a price increase following the launch of the beta version of its Layer 2 network.

The FTX token’s rise has also given hope to the Crypto community about regaining some of the lost funds.

The Exponential Moving Average for 10-day EMA and 200-day EMA indicates “Buy” at 29762 and 23696 respectively. The Simple Moving Average for 10-day and 200-day SMA indicates a “Buy” at 29763 and 21172. 

The Ichimoku Base Line, valued at 28788, continues to be neutral. The Hull Moving Average indicates “Sell” at 30441. The Volume Weighted Moving Average indicates “Buy” at 29028.

Major market oscillators point to a neutral sentiment. The Relative Strength Index (14) sits at 64, with a neutral outlook. The Stochastic %K (14, 3, 3) indicates “Sell” at 77 and the Average Directional Index (14) indicates a Neutral outlook at 42.

The MACD Level (12, 26), at 1039, indicates “Buy”. The Stochastic RSI Fast (3, 3, 14, 14) indicates “Sell”at 67 and William’s Percentage is “Sell” at −33 as well.

As of 10:00 AM, 17th April 2023 on WazirX, Bitcoin’s price is ₹26,20,220, with a 0.47% increase in the last hour. There was a 0.37% decrease in its price in the last 24 hours.

Ethereum (ETH) is trading at ₹1,82,799, with an increase of 1.51% in the last 1 hour. There was a 0.86% decrease in the last 24 hours.

The top gainers on WazirX include Cartesi (CTSI), Celer Network (CELR), and dYdX (DYDX), with a price increase of 31.47%, 19.42%, and 8.97%, respectively.

However, the tokens that underperformed comprised FTT (FTX Token), Solar (SXP), and Ontology (ONT), with a price decrease of 5.72%, 5.06%, and 4.50%, respectively.

Shiba Inu (SHIB) saw a price decrease of 1.91% and is now priced at ₹0.000978. Dogecoin (DOGE) saw a decrease of 1.69% and is now priced at ₹7.57.

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.