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Market Indicators Show A “Sell” Sentiment Amidst Falling Crypto Prices

By June 1, 20232 minute read

The current price of Bitcoin (BTC) is $26,801.45, with an almost 1.09% decrease in the last hour. There was a decrease of 3.06% in its price in the last 24 hours. The 7-day Bitcoin was up by 2.19%.

Ethereum (ETH) is currently trading at $1,857.75, with an almost 0.80% decrease in the last hour. There has been a 1.94% decrease in its price in the last 24 hours. The 7-day ETH has been up by 4.25%.

The Exponential Moving Average for 10-days and 200-days indicate a “Sell” and “Buy” at 27187 and 25149, respectively. Similarly, the Simple Moving Average for 10-days and 200-day SMA both indicate a “Sell” and “Buy” at 27116 and 23047, respectively. Both the moving averages show a strong mixture of “Sell” and “Buy” sentiments.

The Ichimoku Base Line, valued at 27497, shows a “Neutral” sentiment for quite a long time, whereas the Hull Moving Average indicates a “Sell” signal at 27517. The Volume Weighted Moving Average at 27073 showed a “Sell” signal.

Major market oscillators point toward a “Neutral” sentiment. The Relative Strength Index (14), one of the key indicators, sits at 44, with a neutral outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) is at 53 and 21, respectively, further indicating a “Neutral” market.

The MACD Level (12, 26) at -161 indicates a “Buy.” The Stochastic RSI Fast (3, 3, 14, 14) is at 55 with a “Neutral” indicator, while the Williams Percent Range (14) at −64 signals “Neutral.”

As of 09:00 AM, 01st June 2023, on WazirX, Bitcoin’s current price is ₹23,93,058, with an almost 1.32% decrease in the last hour. There was a 1.73% decrease in its price in the last 24 hours. In the past 7 days, Bitcoin was down by 0.96%.

Ethereum (ETH) is trading at ₹1,61,001, with a decrease of 4.13% in the last hour. There was a decrease of 1.48% in the last 24 hours. The 7-day ETH is up by 2.79%.

The top gainers on WazirX include Neo (NEO), Injective Protocol (INJ), and Spell Token (SPELL), with price increases of 20.02%, 16.24%, and 4.6%, respectively.

However, the tokens that underperformed comprised Decred (DCR), Alpha Finance Labs (ALPHA), and Hifi Finance (HIFI), with a price decrease of 12.33%, 11.39%, and 11.24%, respectively.

Shiba Inu (SHIB) saw a price decrease of 0.26% and is now priced at ₹0.000758. Dogecoin (DOGE) saw a decrease of 2.3% and is now priced at ₹6.2600.

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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