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BTC Remains Above $26k; Its Sustainable Growth May Require Increased Market Engagement

By August 24, 20232 minute read

The current price of Bitcoin (BTC) is $26,440.53, with an almost 0.13% increase in the last hour. There was an increase of 1.35% in its price in the last 24 hours. The 7-day Bitcoin was down by 7.66%.

Ethereum (ETH) is currently trading at $1,674.83, with an almost 0.03% decrease in the last hour. There has been a 2.43% increase in its price in the last 24 hours. The 7-day ETH has been down by 6.75%.

The Exponential Moving Average for 10-days and 200-days indicate strong “Sell” sentiment at 26855 and 27221, respectively. Similarly, the Simple Moving Average for 10-day and 200-day SMA indicate “Sell” at 26785 and 27377, respectively. Simple moving averages show strong “Sell” sentiments.

The Ichimoku Base Line, valued at 27780, shows a “Neutral” sentiment for quite a long time, whereas the Hull Moving Average indicates a “Buy” signal at 26128. The Volume Weighted Moving Average at 27698 showed a “Sell” signal.

Major market oscillators point toward a “Neutral” sentiment. The Relative Strength Index (14), one of the key indicators, sits at 28, with a buy outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) are at 21 and 30, respectively, further indicating a “Neutral” market.

The MACD Level (12, 26) at -894 indicates a “Sell.” The Stochastic RSI Fast (3, 3, 14, 14) is at 22 with a “Neutral” indicator, while the Williams Percent Range (14) at −76 signals “Neutral.”

As of 09:00 AM, 24th August 2023, on WazirX, Bitcoin’s current price is ₹23,42,300, with an almost 2.02% increase in the last hour. There was a 0.98% increase in its price in the last 24 hours. In the past 7 days, Bitcoin was up by 0.08%.

Ethereum (ETH) is trading at ₹1,49,900, with an increase of 1.69% in the last hour. There was an increase of 1.81% in the last 24 hours. The 7-day ETH is up by 1.96%.

The top gainers on WazirX include Verge (XVG), Reserve Right (RSR), and dYdX (DYDX), with price increases of 17.07%, 9.32%, and 8.83%, respectively.

However, the tokens that underperformed comprised Balancer (BAL), Kyber Network Crystal v2 (KNC), and Siacoin (SC), with a price decrease of 6.13%, 5.82%, and 5%, respectively.

Shiba Inu (SHIB) saw a price increase of 3.44% and is now priced at ₹0.000750. Dogecoin (DOGE) saw an increase of 1.04% and is now priced at ₹5.6500.

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