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Analysts predict an early bull run as Bitcoin price continues to surge

By November 24, 20232 minute read

Bitcoin shows no signs of slowing down as regulatory clarity becomes an urgent topic of advocacy across the Crypto world. Its swift price recovery and momentum is also causing analysts to believe that the bull run might be closer than we think. 

Market oscillators for major altcoins such as XRP, SOL indicate the possibility of a potential surge in prices and promising returns. 

The Exponential Moving Average for 10-day EMA indicates “Buy” at 36939 and 200-day EMA indicates “Buy” at 29597. The Simple Moving Average for 10-day SMA indicates “Buy” at 37003 and 200-day SMA indicates “Buy” at 29173.

The Ichimoku Base Line, valued at 36020, continues to be neutral. The Hull Moving Average indicates “Buy” at 37215. The Volume Weighted Moving Average indicates “Buy” at 36589. 

The Relative Strength Index (14) sits at 60, indicating “Neutral”. The Stochastic %K (14, 3, 3) at 80 and the Average Directional Index (14) at 55 indicate a Neutral outlook. 

The MACD Level (12, 26), at 1058, indicates “Sell”. The Stochastic RSI Fast (3, 3, 14, 14) at 24 and William’s Percentage at -20 indicate “Neutral”.

As of 10:00 AM, 24th November 2023, on WazirX, Bitcoin’s price is ₹32,66,280, with a 0.13% increase in the last 24 hours. There was a 0.19% increase in its price in the last week.

Ethereum (ETH) is trading at ₹1,80,986. There was an increase of 1.01% in the last 24 hours. There was a 3.39% increase in its price in the last week.

The top gainers on WazirX include Blur (BLUR), Spell Token (SPELL), Fetch.AI (FET) with price increases of 36.15%, 15.16%, and 11.36%, respectively.

However, the tokens that underperformed comprised Band Protocol (BAND), BitTorrent (BTTC), and IDEX (IDEX), with a price decrease of 7.3%, 6.71%, and 6.7%, respectively.

Shiba Inu (SHIB) saw a price increase of 1.41% and is now priced at ₹0.000716. Dogecoin (DOGE) saw a increase of 4.43% and is now priced at ₹6.89.

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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