Market Indicators Show A Neutral Outlook, SHIB And DOGE Prices Decline

By March 6, 20232 minute read

As of now, the current price of Bitcoin (BTC) is $22,680.96, with an almost 0.17% decrease in the last hour. There was a 0.22% decrease in its price in the last 24 hours. The 7-day Bitcoin was down by 4.68%.

Ethereum (ETH) is currently trading at $15827.40, with an almost 0.06% decrease in the last hour.  There has been a 1.16% decrease in its price in the last 24 hours. The 7-day ETH has been down 4.67%.

The Exponential Moving Average for 10-days indicates a “Sell,” and 200-days indicates a “Buy” at 22904.16 and 21788.81, respectively. Similarly, the Simple Moving Average for 10-days indicates a “Sell,” and 200-day SMA indicates a “Buy” at 22996.90 and 19708.75, respectively. Both moving averages indicate a mixture of “Buy” and “Sell” markets.

The Ichimoku Base Line, valued at 23323.00, continues to be neutral, whereas the Hull Moving Average indicates a “Buy” signal at 22118.55. The Volume Weighted Moving Average at 23793.41 continues to signal “Sell.”

Major market indicators continue to point to a neutral sentiment. The Relative Strength Index (14), one of the key indicators, sits at 43.30, with a neutral outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) is at 11.87 and 22.66, respectively, further indicating a neutral market.

The MACD Level (12, 26), at -55.33, indicates a “Sell.” The Stochastic RSI Fast (3, 3, 14, 14) is at 2.04 with a “Neutral” indicator, while the Williams Percent Range (14) at −88.25 also signals “Neutral.” 

As of 09:00 AM, 06th March 2023, on WazirX, Bitcoin’s current price is ₹19,98,107, with an almost 2.37% increase in the last hour. There was a 1.23% increase in its price in the last 24 hours. In the past 7 days, Bitcoin was up 0.15%.

Ethereum (ETH) is trading at ₹1,37,700, with a decrease of 0.93% in the last hour. There was an increase of 0.19% in the last 24 hours. The 7-day ETH is up by 0.66%.

The top gainers on WazirX include Quant (QNT), QuickSwap (quick), and Maker (MKR), with a price increase of 10.7%, 10.32%, and 8.97%, respectively.

However, the tokens that underperformed comprised Celo (CELO), VeChain (VET), and Nem (XEM), with a price decrease of 12.22%, 8.99%, and 6.53%, respectively.

Shiba Inu (SHIB) saw a price decrease of 1.2% and is now priced at ₹0.000985. Dogecoin (DOGE) saw a dip of 1.55% and is now priced at ₹6.55.

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.
Participate in the Indian Crypto Movement. Share:

Leave a Reply

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

WazirX NewsLetter


What do you get?

● Blockchain & Crypto specific news, updates, tips, contest alerts and more.

● Insights about what is happening at WazirX.

● One email per week. No spamming - We promise!