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Market Indicators Show An Overall Mixed Sentiment; BTC, ETH Saw Price Drop

By March 9, 20232 minute read

As of now, the current price of Bitcoin (BTC) is $22,047.73, with an almost 0.21% increase in the last hour. There was a 1.58% decrease in its price in the last 24 hours. The 7-day Bitcoin was down by 6.80%.

Ethereum (ETH) is currently trading at $1567.55, with an almost 0.09% increase in the last hour. There has been a 1.21% decrease in its price in the last 24 hours. The 7-day ETH has been down 6.66%.

The Exponential Moving Average for 10-days and 200-days indicates “Sell” at 22432.87 and 21791.85, respectively. Similarly, the Simple Moving Average for 10-days indicates a “Sell,” and 200-day SMA indicates a “Buy” at 22543.630 and 19719.64, respectively. Both moving averages show a mixture of “Buy” and “Sell” markets.

The Ichimoku Base Line, valued at 23323.00, remains neutral, whereas the Hull Moving Average indicates a “Buy” signal at 21731.62. The Volume Weighted Moving Average at 23380.36 showed a “Sell” signal.

Major market indicators point towards a “Neutral” sentiment. The Relative Strength Index (14), one of the key indicators, sits at 38.24, with a neutral outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) is at 6.77 and 20.11, respectively, further indicating a neutral market.

The MACD Level (12, 26), at -255.80, indicates a “Sell.” The Stochastic RSI Fast (3, 3, 14, 14) is at 1.29 with a “Neutral” indicator, while the Williams Percent Range (14) at −93.61 signals “Buy.” 

As of 09:00 AM, 09th March 2023, on WazirX, Bitcoin’s current price is ₹19,12,998, with an almost 1.43% decrease in the last hour. There was a 1.29% decrease in its price in the last 24 hours. In the past 7 days, Bitcoin was down by 4.10%.

Ethereum (ETH) is trading at ₹1,33,984, with a decrease of 2.2% in the last hour. There was a decrease of 2.54% in the last 24 hours. The 7-day ETH is up by 2.06%.

The top gainers on WazirX include Arweave (AR), Ripple (XRP), and Busd (BUSD), with a price increase of 5.11%, 3.95%, and 1.31%, respectively.

However, the tokens that underperformed comprised MyNeighborAlice(ALICE), Compound (COMP), and Synthetix Network Token (SNX), with a price decrease of 14.37%, 14.18%, and 14.06%, respectively.

Shiba Inu (SHIB) saw a price increase of 0.83% and is now priced at ₹0.000971. Dogecoin (DOGE) saw a downtrend of 2.11% and is now priced at ₹6.3500.

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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