The positive sentiment of users towards Bitcoin could be potentially beneficial as global markets work hard to navigate a recession.
However, even with the rise in dollar index predicted, Bitcoin’s backing by TradFi heavy weights might make it volatility proof.
The Exponential Moving Average for 10-day EMA indicates “Buy” at 30238 and 200-day EMA indicates “Buy” at 25990. The Simple Moving Average for 10-day SMA indicates “Buy” at 30493 and 200-day SMA indicates “Buy” at 27845.
The Ichimoku Base Line, valued at 28107, continues to be neutral. The Hull Moving Average indicates “Sell” at 30670. The Volume Weighted Moving Average indicates “Buy” at 29067.
Major market oscillators point to a neutral sentiment. The Relative Strength Index (14) sits at 68, with a neutral outlook. The Stochastic %K (14, 3, 3) at 84 and the Average Directional Index (14) at 33 indicate a Neutral outlook.
The MACD Level (12, 26), at 994, indicates “Buy”. The Stochastic RSI Fast (3, 3, 14, 14) is “Neutral” at 65 and William’s Percentage too indicates a “Neutral” sentiment at -15.
As of 10:00 AM, 3rd July 2023, on WazirX, Bitcoin’s price is ₹26,39,997, with 0.31% increase in the last hour. There was a 1.07% increase in its price in the last 24 hours.
Ethereum (ETH) is trading at ₹1,65,587. There was an increase of 0.05% in the last 1 hour. There was an 1.59% increase in the last 24 hours.
The top gainers on WazirX include Verge (XVG), Compound (COMP), and Venus (XVS), with a price increase of 82.82%, 25.24%, and 20.21%, respectively.
However, the tokens that underperformed comprised Solar (SXP), Balancer (BAL), and Cortex (CTXC), with a price decrease of 9.78%, 7.26%, and 6.84%, respectively.
Shiba Inu (SHIB) saw a price increase of 1.22% and is now priced at ₹0.000659. Dogecoin (DOGE) saw a increase of 0.77% and is now priced at ₹5.75.
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.
