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Bitcoin Surged To Its Highest Level Since May 2022; Technical Market Indicators Show A Buy Sentiment

By November 3, 20232 minute read

The current price of Bitcoin (BTC) is $34,661.27, with an almost 0.02% decrease in the last hour. There was a decrease of 3.20% in its price in the last 24 hours. The 7-day Bitcoin was up by 1.61%.

Ethereum (ETH) is currently trading at $1,798.62, with an almost 0.18% increase in the last hour. There has been a 3.93% decrease in its price in the last 24 hours. The 7-day ETH has been up by 0.46%.

The Exponential Moving Average for 10-days and 200-days indicate a “Buy” sentiment at 34111 and 27975, respectively. Similarly, the Simple Moving Average for 10-day and 200-day SMA indicate a “Buy” at 34539 and 28345, respectively. Exponential and Simple Moving Averages show a “Buy” sentiment.

The Ichimoku Base Line, valued at 31251, shows a “Neutral” sentiment for quite a long time, whereas the Hull Moving Average indicates a “Sell” signal at 35180. The Volume Weighted Moving Average at 32211 showed a “Buy” signal.

Major market oscillators point toward a “Neutral” sentiment. The Relative Strength Index (14), one of the key indicators, sits at 75, with a sell indicator. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) are at 88 and 60, respectively, further indicating a “Neutral” market.

The MACD Level (12, 26) at 1901 indicates a “Buy.” The Stochastic RSI Fast (3, 3, 14, 14) is at 42 with a “Neutral” indicator, while the Williams Percent Range (14) at −20 signals “Neutral.”

As of 12:45 PM, 03rd November 2023, on WazirX, Bitcoin’s current price is ₹30,00,259, with an almost 1.13% decrease in the last hour. There was a 1.19% decrease in its price in the last 24 hours. In the past 7 days, Bitcoin was up by 0.98%.

Ethereum (ETH) is trading at ₹1,54,503, with a decrease of 2.52% in the last hour. There was a decrease of 1.84% in the last 24 hours. The 7-day ETH is up by 0.48%.

The top gainers on WazirX include Mask Network (MASK), Pundi X (PUNDIX), and OokiDAO Token (OOKI), with price increases of 30.81%, 19.88%, and 17.07%, respectively.

However, the tokens that underperformed comprised Tomochain (TOMO), Injective Protocol (INJ), and SushiSwap (SUSHI), with a price decrease of 19.51%, 10.26%, and 9.53%, respectively.

Shiba Inu (SHIB) saw a price decrease of 1.3% and is now priced at ₹0.000683. Dogecoin (DOGE) saw an increase of 0.61% and is now priced at ₹6.000.

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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