Bitcoin and Ethereum dropped prices by 5% and 7% respectively taking the bullish market sentiment down.
SEC’s approach towards Crypto, possible rate hikes on the horizon, have gotten investors worried about digital assets. The market also reflected a correlation between Crypto and S&P after initial indications that the two had slowly started moving independently.
However, the fact that the tokens are perhaps undergoing a price correction after a good run, cannot be ruled out.
The Exponential Moving Average for 10-day EMA indicates “Sell” at 29484 and 200-day EMA indicates “Buy” at 23858. The Simple Moving Average for 10-day SMA indicates “Sell” at 29924 and 200-day SMA indicates “Buy” at 21321.
The Ichimoku Base Line, valued at 28788, continues to be neutral. The Hull Moving Average indicates “Sell” at 29129. The Volume Weighted Moving Average indicates “Sell” at 29291.
Major market oscillators point to a neutral sentiment. The Relative Strength Index (14) sits at 52, with a neutral outlook. The Stochastic %K (14, 3, 3) indicates “Sell” at 49 and the Average Directional Index (14) indicates a Neutral outlook at 37.
The MACD Level (12, 26), at 736, indicates “Sell”. The Stochastic RSI Fast (3, 3, 14, 14) is “Neutral” at 16 and William’s Percentage is “Neutral” at −67 as well.
As of 10:00 AM, 20th April 2023 on WazirX, Bitcoin’s price is ₹25,58,104. There was a 1.23% decrease in its price in the last 24 hours. The 7 day BTC is down 2.73%
Ethereum (ETH) is trading at ₹1,73,800, with an increase of 0.87% in the last 1 hour. There was a 1.05% increase in the last 24 hours. The 7 day ETH is down 5.74%.
The top gainers on WazirX include Cocos BCX (COCOS), Siacoin (SC), and Celer Network (CELR), with a price increase of 6.55%, 4.24%, and 4.22%, respectively.
However, the tokens that underperformed comprised Ardor (ARDR), Cortex (CTXC), and Verge (XVG), with a price decrease of 22.31%, 20.55%, and 17.65%, respectively.
Shiba Inu (SHIB) saw a price decrease of 3.14% and is now priced at ₹0.000955. Dogecoin (DOGE) saw an increase of 1.70% and is now priced at ₹7.8.
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.
