“Buy” Sentiment Continues, SHIB and DOGE Rose

By February 23, 20232 minute read

Today’s Bitcoin analysis suggests an overall “Buy” signal for the market.

As of now, the current price of Bitcoin (BTC) is $24,875.30, with an almost 1.54% increase in the last hour. There was a 1.90% increase in its price in the last 24 hours. The 7-day Bitcoin was down by 0.83%.

Ethereum (ETH) is currently trading at $1696.59, with an almost 1.53% increase 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 1.57%.

The Exponential Moving Average for 10-day and 200-day indicates a “Buy” at 24070.15 and 21653.82, respectively. Similarly, the Simple Moving Average for 10-day and 200-day SMA indicates a “Buy” as well at 24612.10 and 19759.11, respectively. Both moving averages indicate a buy market. 

The Ichimoku Base Line, valued at 23323.00, continues to be neutral, whereas the Hull Moving Average indicates a “Buy” signal at 24525.26. The Volume Weighted Moving Average at 23343.22 continues to signal “Buy.”

Major market indicators continue to point to a neutral sentiment. The Relative Strength Index (14), one of the key indicators, sits at 61.76, with a neutral outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) is at 77.66 and 37.35, respectively, further indicating a neutral market.

The MACD Level (12, 26), at 721.47, indicates a “Buy.” The Stochastic RSI Fast (3, 3, 14, 14) is at 67.68 with a “Neutral” indicator, while the Williams Percent Range (14) at −18.03 also signals “Neutral.” 

As of 09:00 AM, 23rd February 2023, on WazirX, Bitcoin’s current price is ₹20,86,914, with an almost 0.81% decrease in the last hour. There was a 1.88% increase in its price in the last 24 hours. In the past 7 days, Bitcoin was up 2.44%.

Ethereum (ETH) is trading at ₹1,41,500, with an increase of 0.06% in the last hour. There has been a 0.22% decrease in its price in the last 24 hours. The 7-day ETH is down by 0.28%.

The top gainers on WazirX include Algorand (ALGO), Dash (DASH), and Stacks (STX), with a price increase of 32.25%, 20.73%, and 16.66%, respectively.

However, the tokens that underperformed comprised Nem (XEM), PancakeSwap (CAKE), and Ardor (ARDR), with a price decrease of 26.58%, 13.49%, and 13.32%, respectively.

Shiba Inu (SHIB) saw a price increase of 1.51% and is now priced at ₹0.001142. Dogecoin (DOGE) also saw a rise of 0.8% and is now priced at ₹7.46.

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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