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Major Market Indicators Are Showing A “Buy” Sentiment Consecutively

By May 31, 20232 minute read

The current price of Bitcoin (BTC) is $27,671.86, with an almost 0.07% increase in the last hour. There was a decrease of 0.85% in its price in the last 24 hours. The 7-day Bitcoin was up by 2.42%.

Ethereum (ETH) is currently trading at $1,895.94, with an almost 0.09% increase in the last hour. There has been a 0.39% decrease in its price in the last 24 hours. The 7-day ETH has been up by 3.45%.

The Exponential Moving Average for 10-days and 200-days indicate a “Buy” at 27358 and 25138, respectively. Similarly, the Simple Moving Average for 10-days and 200-day SMA both indicate a “Buy” at 27169 and 22997, respectively. Both the moving averages show strong “Buy” sentiments.

The Ichimoku Base Line, valued at 27826, shows a “Neutral” sentiment for quite a long time, whereas the Hull Moving Average indicates a “Sell” signal at 28062. The Volume Weighted Moving Average at 27034 showed a “Buy” signal.

Major market oscillators point toward a “Neutral” sentiment. The Relative Strength Index (14), one of the key indicators, sits at 53, with a neutral outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) is at 71 and 22, respectively, further indicating a “Neutral” market.

The MACD Level (12, 26) at -97 indicates a “Buy.” The Stochastic RSI Fast (3, 3, 14, 14) is at 80 with a “Neutral” indicator, while the Williams Percent Range (14) at −30 signals “Neutral.”

As of 09:15 AM, 31st May 2023, on WazirX, Bitcoin’s current price is ₹24,25,235, with an almost 0.95% decrease in the last hour. There was a 1.03% decrease in its price in the last 24 hours. In the past 7 days, Bitcoin was up by 0.38%.

Ethereum (ETH) is trading at ₹1,67,939.7, with an increase of 1.41% in the last hour. There was an increase of 0.12% in the last 24 hours. The 7-day ETH is up by 4.31%.

The top gainers on WazirX include Phala Network (PHA), Alchemy Pay (ACH), and HiFi Finance (HIFI), with price increases of 9.09%, 7.87%, and 7.65%, respectively.

However, the tokens that underperformed comprised Pepe (PEPE), Arweave (AR), and IDEX (IDEX), with a price decrease of 10.15%, 9.46%, and 8.72%, respectively.

Shiba Inu (SHIB) saw a price decrease of 1.04% and is now priced at ₹0.000760. Dogecoin (DOGE) saw an increase of 0.12% and is now priced at ₹6.4077.

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