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Prices of key tokens surge post new ETF applications from institutional investors

By November 21, 20232 minute read

The market surge over the last 24 hours has been driven by Bitcoin and Ethereum mimicking a past trend of price increase following ETF announcements. While a verdict on ETFs will not come in till next year, the market remains optimistic and shows signs of ending this year on the same sentiment. 

The Exponential Moving Average for 10-day EMA indicates “Buy” at 36919 and 200-day EMA indicates “Buy” at 29054. The Simple Moving Average for 10-day SMA indicates “Buy” at 36889 and 200-day SMA indicates “Buy” at 28881.

The Ichimoku Base Line, valued at 35693, continues to be neutral. The Hull Moving Average indicates “Sell” at 37539. The Volume Weighted Moving Average indicates “Buy” at 36356. 

The Relative Strength Index (14) sits at 65, indicating “Neutral”. The Stochastic %K (14, 3, 3) at 85 and the Average Directional Index (14) at 61 indicate a Neutral outlook. 

The MACD Level (12, 26), at 1273, indicates “Sell”. The Stochastic RSI Fast (3, 3, 14, 14) at 23 and William’s Percentage at -13 indicate “Neutral”.

As of 10:00 AM, 21st November 2023, on WazirX, Bitcoin’s price is ₹32,86,123, with a 1.03% increase in the last 24 hours. There was a 0.80% increase in its price in the last week.

Ethereum (ETH) is trading at ₹1,78,261. There was a decrease of 0.42% in the last 24 hours. There was a 1.83% increase in its price in the last week.

The top gainers on WazirX include Skale Network (SKL), Smooth Love Potion (SLP), and Venus (XVS), with price increases of 35.7%, 22.01%, and 14.65%, respectively.

However, the tokens that underperformed comprised Cortex (CTXC), TokenFi (TOKEN), and Memecoin (MEME), with a price decrease of 10.11%, 9.48%, and 9.25%, respectively.

Shiba Inu (SHIB) saw a price decrease of 0.53% and is now priced at ₹0.000749. Dogecoin (DOGE) saw a decrease of 3.53% and is now priced at ₹6.82.

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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