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BTC Dipped Below $58k; Technical Indicators Reveal A Bearish Trend.

By May 2, 20242 minute read

The price of Bitcoin is $57,554.96 There was a 3.27% decrease in its price in the last 24 hours. The 7-day Bitcoin is down by 10.66%.

Ethereum (ETH) is currently trading at $2,916.74. There has been a decrease of 1.41% in its price in the last 24 hours. The 7-day ETH is down by 7.92%.

The Exponential Moving Average for a 10-day EMA indicates β€œSell” at 61709, and a 200-day EMA indicates β€œBuy” at 52019. The Simple Moving Average for a 10-day SMA indicates β€œSell” at 62580, and a 200-day SMA indicates β€œBuy” at 49480.

The Ichimoku Base Line, valued at 64628, continues to be neutral. The Hull Moving Average indicates β€œSell” at 58442, and the Volume Weighted Average indicates β€œSell” at 63291. 

The Relative Strength Index (14) sits at 32, indicating β€œNeutral”. The Stochastic %K (14, 3, 3) at 15 indicates β€œNeutral,” and the Average Directional Index (14) at 29 indicates a β€œNeutral” outlook.

The MACD Level (12, 26), at -1765, indicates β€œSell”. The Stochastic RSI Fast (3, 3, 14, 14) at 0  indicates β€˜Neutral’, and William’s Percentage at -89 indicates β€˜Neutral’.

As of 12:45 PM, 02nd May 2024, on WazirX, Bitcoin’s current price is β‚Ή51,80,578. Its price has decreased by almost 4.09% in the last hour and by 4.73% in the last 24 hours. In the past seven days, Bitcoin has decreased by 10.20%.

Ethereum (ETH) is trading at β‚Ή2,64,000, down 2.77% in the last hour and 2.78% in the last 24 hours. The 7-day ETH is down 7.30%.

The top gainers on WazirX include Contentos (COS), Nakamoto Games (NAKA), and Mask Network (MASK), with price increases of 18.32%, 17.32%, and 13.57%, respectively.

However, the tokens that underperformed comprised Arweave (AR), SKALE Network (SKL), and bitsCrunch (BCUT), with a price decrease of 18.95%, 16.42%, and 13.51%, respectively.

Shiba Inu (SHIB) saw a price decrease of 1.1% and is now priced at β‚Ή0.001978. Dogecoin (DOGE) saw a decrease of 1.32% and is now priced at β‚Ή11.6800.

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