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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.

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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