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BTC Trades Near $27k Mark; Market Indicators Show A “Neutral” Sentiment

By May 15, 20232 minute read

The current price of Bitcoin (BTC) is $27,220.98, with an almost 0.10% increase in the last hour. There was an increase of 1.39% in its price in the last 24 hours. The 7-day Bitcoin was down by 3.63%.

Ethereum (ETH) is currently trading at $1,828.59, with an almost 1.80% decrease in the last hour. There has been a 1.43% increase in its price in the last 24 hours. The 7-day ETH has been down by 1.61%.

The Exponential Moving Average for 10-days and 200-days indicate a “Sell” and a “Buy” at 27458 and 24794, respectively. Similarly, the Simple Moving Average for 10-days and 200-day SMA indicates a “Sell” and “Buy” at 27506 and 22395, respectively. Both moving averages show a mixture of “Sell” and “Buy” sentiments.

The Ichimoku Base Line, valued at 27911, shows a “Neutral” sentiment for quite a long time, whereas the Hull Moving Average indicates a “Buy” signal at 26688. The Volume Weighted Moving Average at 28244 showed a “Sell” signal.

Major market oscillators point toward a “Neutral” sentiment. The Relative Strength Index (14), one of the key indicators, sits at 42, with a neutral outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) is at 29 and 23, respectively, further indicating a “Neutral” market.

The MACD Level (12, 26) at -420 indicates a “Sell.” The Stochastic RSI Fast (3, 3, 14, 14) is at 11 with a “Neutral” indicator, while the Williams Percent Range (14) at −66 signals “Neutral.”

As of 09:00 AM, 15th May 2023, on WazirX, Bitcoin’s current price is ₹23,88,115, with an almost 0.34% increase in the last hour. There was a 0.02% increase in its price in the last 24 hours. In the past 7 days, Bitcoin was up by 1.58%.

Ethereum (ETH) is trading at ₹1,57,979.9, with a decrease of 1.2% in the last hour. There was a decrease of 0.01% in the last 24 hours. The 7-day ETH is up by 0.62%.

The top gainers on WazirX include DODI (DODO), Phala Network (PHA), and Request Network (REQ), with a price increase of 9.75%, 7.72%, and 6.65%, respectively.

However, the tokens that underperformed comprised Kusama (KSM), Pepe (PEPE), and IDEX (IDEX), with a price decrease of 7.8%, 7.47%, and 7.37%, respectively.

Shiba Inu (SHIB) saw a price increase of 0.51% and is now priced at ₹0.000788. Dogecoin (DOGE) saw an increase of 0.25% and is now priced at ₹6.3701.

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.
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