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Bitcoin price increases following Grayscale’s victory, ignites hope of breaking latest resistance levels

By August 30, 20232 minute read

The market indicators moved the needle from ‘Sell’ to ‘Neutral’ as the industry celebrated Grayscale’s BTC ETF application. Crypto stocks also increase in price following the announcement. 

Ethereum (ETH) is currently trading at $1716.85. There has been a 4.07% increase in its price in the last 24 hours. The 7 day ETH is down by 5.09%.

The Exponential Moving Average for 10-day EMA indicates “Sell” at 26783 and 200-day EMA indicates “Buy” at 27181. The Simple Moving Average for 10-day SMA indicates “Sell” at 26416 and 200-day SMA indicates “Buy” at 27501. 

The Ichimoku Base Line, valued at 27780, continues to be neutral. The Hull Moving Average indicates “Buy” at 27143. The Volume Weighted Moving Average indicates “Sell” at 27013. 

Major market oscillators point to a “Sell” sentiment. The Relative Strength Index (14) sits at 49, with a neutral outlook. The Stochastic %K (14, 3, 3) at 47 and the Average Directional Index (14) at 30 indicate a Neutral outlook. 

The MACD Level (12, 26), at -612, indicates “Sell”. The Stochastic RSI Fast (3, 3, 14, 14) is “Neutral” at 74 and William’s Percentage indicates a “Neutral” sentiment at -40.

As of 10:00 AM, 30th August 2023, on WazirX, Bitcoin’s current price is ₹23,92,999. There was a 0.29% increase in its price in the last 24 hours. In the past 7 days, Bitcoin was up by 3.46%.

Ethereum (ETH) is trading at ₹1,50,000, with an increase of 0.87% in the last 24 hours. The 7-day ETH is up by 2.11%.

The top gainers on WazirX include Bob (BOB), Pendle (PENDLE), and Venus (XVS), with price increases of 15.16%, 13.72%, and 9.53%, respectively.

However, the tokens that underperformed comprised (AVA), Compound (COMP), and Arweave (AR), with a price decrease of 5.54%, 4.83%, and 4.59%, respectively.

Shiba Inu (SHIB) saw a price increase of 1.25% and is now priced at ₹0.000724. Dogecoin (DOGE) saw a decrease of 3.63% and is now priced at ₹5.74.

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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