Market Indicators Show A “Buy” Signal, But DOGE And SHIB Are Down

By February 22, 20232 minute read

Today’s analysis continues to suggest an overall “Buy” signal for the market.

As of now, the current price of Bitcoin (BTC) is $24,331.66, with an almost 0.65% decrease in the last hour. There was a 3.50% decrease in its price in the last 24 hours. The 7-day Bitcoin was up by 8.61%.

Ethereum (ETH) is currently trading at $1661.41, with an almost 0.38% decrease in the last hour.  There has been a 4.02% decrease in its price in the last 24 hours. The 7-day ETH has been up 6.29%.

The Exponential Moving Average for 10-day and 200-day indicates a “Buy” at 23958.24 and 21624.46, respectively. Similarly, the Simple Moving Average for 10-day and 200-day SMA indicates a “Buy” as well at 23883.60 and 19752.18, respectively. Both moving averages indicate a buy market. 

The Ichimoku Base Line, valued at 23323.00, continues to be neutral, whereas the Hull Moving Average indicates a “Sell” signal at 24687.37. The Volume Weighted Moving Average at 23302.43 continues to signal “Buy.”

Major market indicators continue to point to a neutral sentiment. The Relative Strength Index (14), one of the key indicators, sits at 59.27, with a neutral outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) is at 79.93 and 38.58, respectively, further indicating a neutral market.

The MACD Level (12, 26), at 715.75, indicates a “Buy.” The Stochastic RSI Fast (3, 3, 14, 14) is at 73.43 with a “Neutral” indicator, while the Williams Percent Range (14) at −27.97 also signals “Neutral.” 

As of 09:00 AM, 22nd February 2023, on WazirX, Bitcoin’s current price is ₹21,00,000, with an almost 0.09% increase in the last hour. There was a 0.75% decrease in its price in the last 24 hours. In the past 7 days, Bitcoin was up 1.47%.

Ethereum (ETH) is trading at ₹1,41,623, with a decrease of 0.96% in the last hour. There has been a 1.40% decrease in its price in the last 24 hours. The 7-day ETH is down by 0.20%.

The top gainers on WazirX include Ardor (ARDR), Nem (XEM), and Dock (DOCK) with a price increase of 84.55%, 45.17%, and 30.11%, respectively.

However, the tokens that underperformed comprised IOSToken (IOST), Alchemy Pay (ACH), and Nervos Network (CKB) with a price decrease of 12.81%, 12.8%, and 11.03%, respectively.

Shiba Inu (SHIB) saw a price decrease of 2.08% and is now priced at ₹0.001124. Dogecoin also saw a minor drop of 0.14% and is now priced at ₹7.48.

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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