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Market Indicators Jump to a “Strong Buy” Sentiment After a Long Time; Bitcoin to Reach the $30k Mark

By August 9, 20232 minute read

The current price of Bitcoin (BTC) is $29,680.41, with an almost 0.26% decrease in the last hour. There was an increase of 1.30% in its price in the last 24 hours. The 7-day Bitcoin was down by 0.11%.

Ethereum (ETH) is currently trading at $1,854.66, with an almost 0.05% decrease in the last hour. There has been a 1.37% increase in its price in the last 24 hours. The 7-day ETH has been down by 0.48%.

The Exponential Moving Average for 10-days and 200-days indicate strong “Buy” sentiment at 29395 and 27162, respectively. Similarly, the Simple Moving Average for 10-days and 200-day SMA indicate “Buy” at 29311 and 27040, respectively. Simple moving averages show a strong combination of “Buy” sentiments.

The Ichimoku Base Line, valued at 29508, shows a “Neutral” sentiment for quite a long time, whereas the Hull Moving Average indicates a “Buy” signal at 29546. The Volume Weighted Moving Average at 29387 showed a “Buy” signal.

Major market oscillators point toward a “Buy” sentiment. The Relative Strength Index (14), one of the key indicators, sits at 54, with a neutral outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) is at 62 and 15, respectively, further indicating a “Neutral” market.

The MACD Level (12, 26) at -90 indicates a “Buy.” The Stochastic RSI Fast (3, 3, 14, 14) is at 76 with a “Neutral” indicator, while the Williams Percent Range (14) at −30 signals “Neutral.”

As of 09:00 AM, 09th August 2023, on WazirX, Bitcoin’s current price is ₹25,72,000, with an almost 2.27% increase in the last hour. There was a 2.07% increase in its price in the last 24 hours. In the past 7 days, Bitcoin was up by 3.25%.

Ethereum (ETH) is trading at ₹1,59,900, with an increase of 2.35% in the last hour. There was an increase of 0.96% in the last 24 hours. The 7-day ETH is up by 1.82%.

The top gainers on WazirX include Orchid (OXT), Reserve Rights (RSR), and Band Protocol (BAND), with price increases of 20.78%, 8.58%, and 8.02%, respectively.

However, the tokens that underperformed comprised Render Token (RNDR), Loom Network (LOOM), and Kusama (KSM), with a price decrease of 8.34%, 8.08%, and 6.89%, respectively.

Shiba Inu (SHIB) saw a price increase of 4.68% and is now priced at ₹0.000827. Dogecoin (DOGE) saw an increase of 0.63% and is now priced at ₹6.3510.

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