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BTC Slipped To Approx $26k; Market Indicators Continued To Show A “Sell” Sentiment

By August 25, 20232 minute read

The current price of Bitcoin (BTC) is $26,171.87, with an almost 0.11% decrease in the last hour. There was a decrease of 1.08% in its price in the last 24 hours. The 7-day Bitcoin was down by 1.22%.

Ethereum (ETH) is currently trading at $1,656.35, with an almost 0.14% decrease in the last hour. There has been a 1.07% decrease in its price in the last 24 hours. The 7-day ETH has been down by 1.26%.

The Exponential Moving Average for 10-days and 200-days indicate strong “Sell” sentiment at 26683 and 27208, respectively. Similarly, the Simple Moving Average for 10-day and 200-day SMA indicate “Sell” at 26455 and 27393, 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 26164. The Volume Weighted Moving Average at 27600 showed a “Sell” signal.

Major market oscillators point toward a “Neutral” sentiment. The Relative Strength Index (14), one of the key indicators, sits at 26, with a neutral outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) are at 20 and 31, respectively, further indicating a “Neutral” market.

The MACD Level (12, 26) at -918 indicates a “Sell.” The Stochastic RSI Fast (3, 3, 14, 14) is at 26 with a “Neutral” indicator, while the Williams Percent Range (14) at −83 signals “Neutral.”

As of 09:45 AM, 24th August 2023, on WazirX, Bitcoin’s current price is ₹23,03,000, with an almost 0.73% decrease in the last hour. There was a 0.73% decrease in its price in the last 24 hours. In the past 7 days, Bitcoin was up by 0.85%.

Ethereum (ETH) is trading at ₹1,46,000, with a decrease of 3.23% in the last hour. There was a decrease of 0.43% in the last 24 hours. The 7-day ETH is down by 0.69%.

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 decrease of 4.13% and is now priced at ₹0.000719. Dogecoin (DOGE) saw a decrease of 3.17% and is now priced at ₹5.5605.

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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