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BTC Is Trading Around $39k Mark; Market Oscillators Show An Overall Neutral Sentiment

By January 24, 20242 minute read

The current price of Bitcoin (BTC) is $39,791.49, with an almost 0.49% decrease in the last hour. There was a decrease of 0.69% in its price in the last 24 hours. The 7-day Bitcoin was down by 7.56%.

Ethereum (ETH) is currently trading at $2,215.81, with an almost 0.50% increase in the last hour. There has been a 5.44% decrease in its price in the last 24 hours. The 7-day ETH has been down by 14.05%.

The Exponential Moving Average for 10-days and 200-days indicate a “Sell” and a “Buy” sentiment at 41152 and 35459, respectively. Similarly, the Simple Moving Average for 10-day and 200-day SMA indicate a “Sell” and a “Buy” at 41345 and 33575, respectively. The Simple Moving Average shows a combination of “Sell” and “Buy” sentiments.

The Ichimoku Base Line, valued at 43777, shows a “Neutral” sentiment for quite a long time, whereas the Hull Moving Average indicates a “Buy” signal at 39399. The Volume Weighted Moving Average at 43635 showed a “Sell” signal.

Major market oscillators point toward a “Neutral” sentiment. The Relative Strength Index (14), one of the key indicators, sits at 37, with a neutral indicator. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) are at 8 and 22, respectively, further indicating a “Neutral” market.

The MACD Level (12, 26) at -836 indicates a “Sell.” The Stochastic RSI Fast (3, 3, 14, 14) is at 3 with a “Neutral” indicator, while the Williams Percent Range (14) at −90 signals neutral sentiment.

As of 09:45 AM, 24th January 2024, on WazirX, Bitcoin’s current price is ₹35,27,034, with an almost 0.14% decrease in the last hour. There was a 0.78% increase in its price in the last 24 hours. In the past 7 days, Bitcoin was down by 7.61%.

Ethereum (ETH) is trading at ₹1,98,121, with a decrease of 4.05% in the last hour. There was a decrease of 4.14% in the last 24 hours. The 7-day ETH is down by 13,88%.

The top gainers on WazirX include Dusk Network (DUSK), Blur (BLUR), and Alchemy Pay (ACH), with price increases of 12.12%, 10.15%, and 9.56%, respectively.

However, the tokens that underperformed comprised Ethereum Name Service (ENS), Axie Infinity (AXS), and Reserve Rights (RSR), with a price decrease of 14.45%, 14.24%, and 13.75%, respectively.

Shiba Inu (SHIB) saw a price decrease of 2.24% and is now priced at ₹0.00783. Dogecoin (DOGE) saw a decrease of 0.84% and is now priced at ₹7.0644.

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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