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Bitcoin Is Trading Near $42k; Major Market Oscillators Show A Sell Sentiment

By December 15, 20232 minute read

The current price of Bitcoin (BTC) is $42,854.17, with an almost 0.24% decrease in the last hour. There was an increase of 0.13% in its price in the last 24 hours. The 7-day Bitcoin was down by 1.32%.

Ethereum (ETH) is currently trading at $2,285.30, with an almost 0.21% decrease in the last hour. There has been a 1.39% increase in its price in the last 24 hours. The 7-day ETH has been down by 3.66%.

The Exponential Moving Average for 10-days and 200-days indicate a “Buy” sentiment at 42447 and 31779, respectively. Similarly, the Simple Moving Average for 10-day and 200-day SMA indicate a “Sell” and “Buy” at 43028 and 30636, respectively. Simple Moving Average shows a combination of “Sell” and “Buy” sentiments.

The Ichimoku Base Line, valued at 40190, shows a “Neutral” sentiment for quite a long time, whereas the Hull Moving Average indicates a “Buy” signal at 42438. The Volume Weighted Moving Average at 41174 showed a “Buy” signal.

Major market oscillators point toward a “Neutral” sentiment. The Relative Strength Index (14), one of the key indicators, sits at 63, with a neutral indicator. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) are at 74 and 43, respectively, further indicating a “Neutral” market.

The MACD Level (12, 26) at 1617 indicates a “Sell.” The Stochastic RSI Fast (3, 3, 14, 14) is at 26 with a “Neutral” indicator, while the Williams Percent Range (14) at −30 signals “Neutral.”

As of 04:30 PM, 15th December 2023, on WazirX, Bitcoin’s current price is ₹37,33,952, with an almost 0.93% decrease in the last hour. There was a 0.92% decrease in its price in the last 24 hours. In the past 7 days, Bitcoin was down by 1.41%.

Ethereum (ETH) is trading at ₹1,99,996, with an increase of 0.31% in the last hour. There was an increase of 0.31% in the last 24 hours. The 7-day ETH is down by 3.45%.

The top gainers on WazirX include Storj (STORJ), OmiseGO (OMG), and DeXe (DEXE), with price increases of 21.73%, 17.18%, and 16.73%, respectively.

However, the tokens that underperformed comprised FunFair (FUN), pNetwork (PNT), and BitTorrent (BTTC), with a price decrease of 22.54%, 13.24%, and 12.04%, respectively.

Shiba Inu (SHIB) saw a price decrease of 1.25% and is now priced at ₹0.000869. Dogecoin (DOGE) saw a decrease of 1.16% and is now priced at ₹8.4000.

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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