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BTC Broke The $41k Support Level; Market Sentiments Show A Bearish Momentum

By January 23, 20242 minute read

The current price of Bitcoin (BTC) is $40,066.34, with an almost 0.07% increase in the last hour. There was a decrease of 3.62% in its price in the last 24 hours. The 7-day Bitcoin was down by 7.10%.

Ethereum (ETH) is currently trading at $2,339.88, with an almost 0.19% increase in the last hour. There has been a 3.99% decrease in its price in the last 24 hours. The 7-day ETH has been down by 7.53%.

The Exponential Moving Average for 10-days and 200-days indicate a “Sell” and a “Buy” sentiment at 41537 and 35419, respectively. Similarly, the Simple Moving Average for 10-day and 200-day SMA indicate a “Sell” and a “Buy” at 41577 and 33529, respectively. The Simple Moving Average shows a combination of “Sell” and “Buy” sentiments.

The Ichimoku Base Line, valued at 44243, shows a “Neutral” sentiment for quite a long time, whereas the Hull Moving Average indicates a “Sell” signal at 40074. The Volume Weighted Moving Average at 43908 showed a “Sell” signal.

Major market oscillators point toward a “Neutral” sentiment. The Relative Strength Index (14), one of the key indicators, sits at 39, with a neutral indicator. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) are at 7 and 20, respectively, further indicating a “Neutral” market.

The MACD Level (12, 26) at -701 indicates a “Sell.” The Stochastic RSI Fast (3, 3, 14, 14) is at 5 with a “Neutral” indicator, while the Williams Percent Range (14) at −94 signals neutral sentiment.

As of 09:30 AM, 23rd January 2024, on WazirX, Bitcoin’s current price is ₹35,19,999, with an almost 3.74% decrease in the last hour. There was a 4.12% decrease in its price in the last 24 hours. In the past 7 days, Bitcoin was down by 6.61%.

Ethereum (ETH) is trading at ₹2,06,900, with a decrease of 3.77% in the last hour. There was a decrease of 5.12% in the last 24 hours. The 7-day ETH is down by 7.44%.

The top gainers on WazirX include UMA (UMA), Cartesi (CTSI), and AMP (AMP), with price increases of 11.41%, 11.14%, and 10%, respectively.

However, the tokens that underperformed comprised Adventure Gold (AGLD), Bluzelle (BLZ), and Verge (XVG), with a price decrease of 19%, 16.92%, and 12.41%, respectively.

Shiba Inu (SHIB) saw a price decrease of 2.43% and is now priced at ₹0.000803. Dogecoin (DOGE) saw a decrease of 2.86% and is now priced at ₹7.1899.

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