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Bitcoin Trading Near The $35k Mark; Moving Averages Show A “Strong Buy” Sentiment

By November 1, 20232 minute read

The current price of Bitcoin (BTC) is $34,461.81, with an almost 0.13% decrease in the last hour. There was an increase of 0.39% in its price in the last 24 hours. The 7-day Bitcoin was up by 1.50%.

Ethereum (ETH) is currently trading at $1,811.14, with an almost 0.01% decrease in the last hour. There has been a 0.61% increase in its price in the last 24 hours. The 7-day ETH has been up by 1.33%.

The Exponential Moving Average for 10-days and 200-days indicate a “Buy” sentiment at 33600 and 27827, respectively. Similarly, the Simple Moving Average for 10-day and 200-day SMA indicate a “Buy” at 34181 and 28291, respectively. Exponential and Simple Moving Averages show a “Buy” sentiment.

The Ichimoku Base Line, valued at 30866, shows a “Neutral” sentiment for quite a long time, whereas the Hull Moving Average indicates a “Sell” signal at 34686. The Volume Weighted Moving Average at 31687 showed a “Buy” signal.

Major market oscillators point toward a “Neutral” sentiment. The Relative Strength Index (14), one of the key indicators, sits at 80, with a sell indicator. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) are at 91 and 57, respectively, further indicating a “Neutral” market.

The MACD Level (12, 26) at 1913 indicates a “Buy.” The Stochastic RSI Fast (3, 3, 14, 14) is at 73 with a “Neutral” indicator, while the Williams Percent Range (14) at −10 signals “Sell.”

As of 09:30 AM, 01st November 2023, on WazirX, Bitcoin’s current price is ₹29,75,019, with an almost 0.5% increase in the last hour. There was a 0.13% decrease in its price in the last 24 hours. In the past 7 days, Bitcoin was up by 1.19%.

Ethereum (ETH) is trading at ₹1,57,000, with an increase of 1.84% in the last hour. There was an increase of 1.85% in the last 24 hours. The 7-day ETH is up by 1.17%.

The top gainers on WazirX include Smooth Love Potion (SLP), SushiSwap (SUSHI), and Worldcoin (WLD), with price increases of 19.42%, 18.27%, and 12.17%, respectively.

However, the tokens that underperformed comprised Fetch.AI (FET), Band Protocol (BAND), and Pendle (PENDLE), with a price decrease of 30.43%, 11.62%, and 9.75%, respectively.

Shiba Inu (SHIB) saw a price decrease of 1.73% and is now priced at ₹0.000678. Dogecoin (DOGE) saw a decrease of 3.22% and is now priced at ₹5.8720.

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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