Prices of key tokens continued to rise on Tuesday, following a similar pattern of the previous couple of days. Bitcoin traded above the $25,000 resistance level on Tuesday. Ethereum also had a strong rally.
Next week will be decisive for the Crypto community with the Fed’s rate hike announcement. We will continue to see a modest surge in prices aligned with past records. It will be a while before new ATH levels are reached.
The Exponential Moving Average for 10-day EMA suggests a “Buy” at 23052.92 and the 200-day EMA indicates a “Buy” as well at 21840.52. The Simple Moving Average for 10-day SMA and 200-day SMA indicate a “Buy” at 22359.10 and 19766.44 respectively.
The Ichimoku Base Line, valued at 23051.00, continues to be neutral. The Hull Moving Average indicates “Sell” at 25096.2 and The Volume Weighted Moving Average indicates “Buy” at 22725.52.
Major market oscillators point to a neutral sentiment. The Relative Strength Index (14) sits at 64.32, with a neutral outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) indicates a Neutral outlook at 81.09 and 24.49, respectively.
The MACD Level (12, 26), at 133.09, indicates a “Buy”. The Stochastic RSI Fast (3, 3, 14, 14) and the Williams Percent Range (14) continue to be “Neutral”at 100.00 and −22.87 respectively.
As of 10:00 AM, 15th March 2023, on WazirX, the price of Bitcoin is ₹21,20,000. It had a 0.19% price decrease in the last hour. Over the past 24 hours, BTC’s value increased by 0.95%. The 7 day Bitcoin was up 10.14%.
Ethereum (ETH) is currently trading at ₹1,44,788. In the past 24 hours, ETH went up by 0.99%. The 7 day ETH was up 6.14%.
Some tokens performed well on WazirX including Stacks (STX), pNetwork (PNT) and Alchemy Pay (ACH) with price increases of 31.61%, 18.43%, and 16.01% respectively.
However, some tokens such as Ox Protocol (ZRX), Cortex(CTXC), and Kusama (KSM) underperformed with price decreases of 8.99%, 6.68%, and 5.72% respectively.
Shiba Inu (SHIB) saw a price increase of 0.41% and is now priced at ₹0.000973. Dogecoin (DOGE) saw an increase of 2.29% and is now priced at ₹6.44.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.