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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.

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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