The market has reached a resistance level for the past few weeks. The approval of Bitcoin’s spot ETF application can help it move upward and reach the projected levels for this year with a potential increase of approx 20%.
Ripple’s victory against SEC has given the market an impetus to be bullish about the future of Crypto.
The Exponential Moving Average for 10-day EMA indicates “Sell” at 30419 and 200-day EMA indicates “Buy” at 26574. The Simple Moving Average for 10-day SMA indicates “Sell” at 30454 and 200-day SMA indicates “Buy” at 25806.
The Ichimoku Base Line, valued at 30663, continues to be neutral. The Hull Moving Average indicates “Buy” at 30260. The Volume Weighted Moving Average indicates “Sell” at 30496.
Major market oscillators point to a “Sell” sentiment. The Relative Strength Index (14) sits at 54, with a neutral outlook. The Stochastic %K (14, 3, 3) at 27 and the Average Directional Index (14) at 35 indicate a Neutral outlook.
The MACD Level (12, 26), at 420, indicates “Sell”. The Stochastic RSI Fast (3, 3, 14, 14) is “Neutral” at 1 and William’s Percentage too indicates a “Neural” sentiment at -72.
As of 10:00 AM, 17th July 2023, on WazirX, Bitcoin’s price is ₹26,10,974. There was a 1.32% increase in its price in the last 24 hours.
Ethereum (ETH) is trading at ₹1,66,200. There was an 1.33% increase in the last 24 hours.
The top gainers on WazirX include 1inch (1INCH), SushiSwap (SUSHI), and Maker (MKR), with a price increase of 51.62%, 16.34%, and 15.63%, respectively.
However, the tokens that underperformed comprised Pendle (PENDLE), Kyber Network Crystal v2 (KNC), and Injective Protocol (INJ), with a price decrease of 10.41%, 10.28%, and 8.57%, respectively.
Shiba Inu (SHIB) saw an increase of 2.06% and is now priced at ₹0.000693. Dogecoin (DOGE) saw an increase of 1.63% and is now priced at ₹6.0
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.
