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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.

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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