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BTC And ETH Faced A Downtrend; Market Indicators Showed A “Neutral” Sentiment

By July 28, 20232 minute read

The current price of Bitcoin (BTC) is $29,380.65, with an almost 0.22% increase in the last hour. There was a decrease of 0.53% in its price in the last 24 hours. The 7-day Bitcoin was down by 1.94%.

Ethereum (ETH) is currently trading at $1,862.66, with an almost 0.03% increase in the last hour. There has been a 0.83% decrease in its price in the last 24 hours. The 7-day ETH has been down by 1.96%.

The Exponential Moving Average for 10-days and 200-days indicate strong “Sell” and “Buy” sentiments at 29547 and 26887, respectively. Similarly, the Simple Moving Average for 10-days and 200-day SMA indicate “Sell” and “Buy” at 29574 and 26508, respectively. Simple moving averages show a strong combination of “Sell” and “Buy” sentiments.

The Ichimoku Base Line, valued at 30330, shows a “Neutral” sentiment for quite a long time, whereas the Hull Moving Average indicates a “Buy” signal at 29098. The Volume Weighted Moving Average at 30079 showed a “Sell” signal.

Major market oscillators point toward a “Neutral” sentiment. The Relative Strength Index (14), one of the key indicators, sits at 44, with a neutral outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) is at 19 and 22, respectively, further indicating a “Buy” and “Neutral” market.

The MACD Level (12, 26) at -111 indicates a “Sell.” The Stochastic RSI Fast (3, 3, 14, 14) is at 10 with a “Neutral” indicator, while the Williams Percent Range (14) at −74 signals “Neutral.”

As of 11:00 AM, 28th July 2023, on WazirX, Bitcoin’s current price is ₹25,20,000, with an almost 1.23% decrease in the last hour. There was a 1.23% decrease in its price in the last 24 hours. In the past 7 days, Bitcoin was down by 3.28%.

Ethereum (ETH) is trading at ₹1,61,000, with a decrease of 0.38% in the last hour. There was a decrease of 0.32% in the last 24 hours. The 7-day ETH is down by 0.40%.

The top gainers on WazirX include UMA (UMA), Kyber Network Crystal v2 (KNC), and Venus (XVS), with price increases of 14.05%, 8.64%, and 8.09%, respectively.

However, the tokens that underperformed comprised Origin Token (OGN), Maker (MKR), and Synthetix Network Token (SNX), with a price decrease of 16.34%, 12.14%, and 9.99%, respectively.

Shiba Inu (SHIB) saw a price decrease of 0.44% and is now priced at ₹0.000677. Dogecoin (DOGE) saw an increase of 0.15% and is now priced at ₹6.6100.

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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