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Bitcoin Has Started A Notable Upward Trend; Market Sentiment Leans Towards Optimism Again

By December 28, 20232 minute read

The current price of Bitcoin (BTC) is $43,389.87, with an almost 0.13% decrease in the last hour. There was an increase of 0.88% in its price in the last 24 hours. The 7-day Bitcoin was up by 0.59%.

Ethereum (ETH) is currently trading at $2,413.31, with an almost 0.15% increase in the last hour. There has been an 8.35% increase in its price in the last 24 hours. The 7-day ETH has been up by 9.69%.

The Exponential Moving Average for 10-days and 200-days indicate a “Buy” sentiment at 43181 and 33147, respectively. Similarly, the Simple Moving Average for 10-day and 200-day SMA indicate a “Buy” at 43353 and 31693, respectively. The Simple Moving Average shows a “Buy” sentiment.

The Ichimoku Base Line, valued at 42017, shows a “Neutral” sentiment for quite a long time, whereas the Hull Moving Average indicates a “Buy” signal at 43048. The Volume Weighted Moving Average at 42694 showed a “Buy” signal.

Major market oscillators point toward a “Neutral” sentiment. The Relative Strength Index (14), one of the key indicators, sits at 57, with a neutral indicator. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) are at 67 and 24, respectively, further indicating a “Neutral” market.

The MACD Level (12, 26) at 903 indicates a “Sell.” The Stochastic RSI Fast (3, 3, 14, 14) is at 27 with a “Neutral” indicator, while the Williams Percent Range (14) at −26 signals “Neutral.”

As of 09:15 AM, 28th December 2023, on WazirX, Bitcoin’s current price is ₹37,84,000, with an almost 1.32% increase in the last hour. There was a 0.67% increase in its price in the last 24 hours. In the past 7 days, Bitcoin was down by 0.49%.

Ethereum (ETH) is trading at ₹2,10,344, with an increase of 6.77% in the last hour. There was an increase of 6.40% in the last 24 hours. The 7-day ETH is up by 9.90%.

The top gainers on WazirX include SKALE Network (SKALE), Arbitrum (ARB), and Aave (AAVE), with price increases of 23.93%, 22%, and 18.23%, respectively.

However, the tokens that underperformed comprised Bonk (BONK), Perpetual Protocol (PERP), and QuickSwap (QUICK), with a price decrease of 8.33%, 7.89%, and 6.5%, respectively.

Shiba Inu (SHIB) saw a price increase of 4.8% and is now priced at ₹0.000960. Dogecoin (DOGE) saw an increase of 2.75% and is now priced at ₹8.2612.

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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