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The overall market sentiment remains Neutral even as prices for Bitcoin, Ethereum decrease

By July 21, 20232 minute read

The current market sentiment has not been impacted by how the Fed’s rate hikes will pan out in the next few weeks.
The recent price decrease of Bitcoin hasn’t quite affected the sentiment among users either, although the initial enthusiasm for Bitcoin’s ETF might have diminished, but investors remain optimistic.

The Exponential Moving Average for 10-day EMA indicates “Sell” at 30109 and 200-day EMA indicates “Buy” at 26702. The Simple Moving Average for 10-day SMA indicates “Sell” at 30240 and 200-day SMA indicates “Buy” at 26070. 

The Ichimoku Base Line, valued at 30663, continues to be neutral. The Hull Moving Average indicates “Buy” at 29718. The Volume Weighted Moving Average indicates “Sell” at 30408.

Major market oscillators point to a “Neutral” sentiment. The Relative Strength Index (14) sits at 50, with a neutral outlook. The Stochastic %K (14, 3, 3) at 16 and the Average Directional Index (14) at 31 indicate a Neutral outlook. 

The MACD Level (12, 26), at 189, indicates “Sell”. The Stochastic RSI Fast (3, 3, 14, 14) is “Neutral” at 4 and William’s Percentage too indicates a “Buy” sentiment at -83.

As of 10:00 AM, 21st July 2023, on WazirX, Bitcoin’s price is ₹25,40,230. Over the last 24 hours, BTC was down by 0.98%. The 7 day BTC was down by 1.39%.

Ethereum (ETH) is trading at ₹1,62,135. Over the last 24 hours, ETH has been up by 0.07%. The 7 day ETH was down by 1.15%

The top gainers on WazirX include Synthetix network Token (SNX), Chainlink (LINK), and Maker (MKR), with a price increase of 17.85%, 14.46%, and 13.62%, respectively.

However, the tokens that underperformed comprised Travala (AVA), Bob (BOB), and UniSwap (UNI), with a price decrease of 8.16%, 4.98%, and 4.35%, respectively.

Shiba Inu (SHIB) saw an increase of 0.30% and is now priced at ₹0.000672. Dogecoin (DOGE) saw an decrease of 1.28% and is now priced at ₹6.02

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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