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BTC and ETH Demonstrated Resilience; Market Indicators Slipped to “Neutral” Sentiment

By August 11, 20232 minute read

The current price of Bitcoin (BTC) is $29,396.17, with an almost 0.03% decrease in the last hour. There was a decrease of 0.69% in its price in the last 24 hours. The 7-day Bitcoin was up by 0.68%.

Ethereum (ETH) is currently trading at $1,844.60, with an almost 0.14% decrease in the last hour. There has been a 0.46% decrease in its price in the last 24 hours. The 7-day ETH has been up by 0.72%.

The Exponential Moving Average for 10-days and 200-days indicate strong “Buy” sentiment at 29376 and 27205, respectively. Similarly, the Simple Moving Average for 10-days and 200-day SMA indicate “Buy” at 29282 and 27105, respectively. Simple moving averages show strong “Buy” sentiments.

The Ichimoku Base Line, valued at 29494, shows a “Neutral” sentiment for quite a long time, whereas the Hull Moving Average indicates a “Sell” signal at 29613. The Volume Weighted Moving Average at 29361 showed a “Buy” signal.

Major market oscillators point toward a “Buy” sentiment. The Relative Strength Index (14), one of the key indicators, sits at 48, with a neutral outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) is at 54 and 14, respectively, further indicating a “Neutral” market.

The MACD Level (12, 26) at -84 indicates a “Buy.” The Stochastic RSI Fast (3, 3, 14, 14) is at 59 with a “Neutral” indicator, while the Williams Percent Range (14) at −51 signals “Neutral.”

As of 10:00 AM, 11th August 2023, on WazirX, Bitcoin’s current price is ₹25,02,141, with an almost 0.7% decrease in the last hour. There was a 0.39% decrease in its price in the last 24 hours. In the past 7 days, Bitcoin was up by 1.09%.

Ethereum (ETH) is trading at ₹1,57,697, with an increase of 0.76% in the last hour. There was an increase of 0.76% in the last 24 hours. The 7-day ETH is up by 0.42%.

The top gainers on WazirX include Orchid (OXT), Icon (ICX), and Reserve Rights (RSR), with price increases of 14.06%, 8.88%, and 7.26%, respectively.

However, the tokens that underperformed comprised Lovely Inu Finance (LOVELY), Band Protocol (BAND), and Kusama (KSM), with a price decrease of 7.63%, 6.66%, and 6.57%, respectively.

Shiba Inu (SHIB) saw a price increase of 2.4% and is now priced at ₹0.000851. Dogecoin (DOGE) saw a decrease of 1.48% and is now priced at ₹6.4033.

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