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The Rapid Price Decline Of BTC To $60k Has Pushed RSI Into ‘Oversold’ Territory.

By June 25, 20241 minute read

The price of Bitcoin is $61,516.48. Its price decreased by 2.25% in the last 24 hours, but the 7-day Bitcoin is down by 7.12%.

Ethereum (ETH) is currently trading at $3,382.27. Its price has decreased by 0.73% in the last 24 hours, and the 7-day ETH is down by 2.63%.

Bitcoin’s technical indicators suggest bearish momentum. The hourly MACD is gaining pace in the bearish zone, indicating increased selling pressure. Additionally, the RSI for BTC/USD is below the 50 level, signaling weakening momentum. Key support levels are at $61,200 and $60,000, which could provide stability. On the upside, major resistance levels are at $62,150 and $62,500, which Bitcoin needs to break to reverse the bearish trend and resume upward movement.

As of 1:00 PM, June 25, 2024, on WazirX, Bitcoin’s current price is ₹55,74,061. Its price has decreased by 3.31% in the last 24 hours and 6.13% in the past seven days.

Ethereum (ETH) is trading at ₹3,05,944.6, down by 2.49% in the last 24 hours. The 7-day ETH is down 1.71%.

The top gainers on WazirX include Fetch.AI (FET), dogwifhat (WIF), and Aave (AAVE), with price increases of 21.21%, 20.41%, and 15.77%, respectively.

However, the tokens that underperformed comprised Dego Finance (DEGO), Jito (JTO), and SKALE Network (SKL), with a price decrease of 27.75%, 24.04%, and 17.08%, respectively.

Shiba Inu (SHIB) saw a 1.42% price increase and is now priced at ₹0.001571. Dogecoin (DOGE) saw a 0.95% price decrease and is now priced at ₹10.9840.

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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