Crypto prices fell in the last 24 hours as Binance faced legal challenges by the Commodity Futures Trading Commission for engaging US based customers in Crypto derivatives trading. The same is not allowed in the US and according to regulators, exposes users to unwanted risks. This apart from the Coinbase-SEC standoff have been somewhat impacting token prices and community sentiment in the last few days.
Another reason why BTC prices could have been impacted was Microstrategy purchasing 6455 Bitcoins at $150 million.
The Exponential Moving Average for 10-day EMA indicates “Sell” at 27146.27 and 200-day EMA indicates “Buy” at 22516.59. The Simple Moving Average for 10-day SMA indicates “Sell” at 27693.40 and 200-day SMA indicates a “Buy” at 20254.65.
The Ichimoku Base Line, valued at 24474.50, continues to be neutral. The Hull Moving Average indicates “Sell” at 27303.95. The Volume Weighted Moving Average indicates “Buy” at 25191.28.
Major market oscillators point to a neutral sentiment. The Relative Strength Index (14) sits at 58.48, with a neutral outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) indicate a Neutral outlook as well at 66.01 and 37.11, respectively.
The MACD Level (12, 26), at 1210.75, indicates a “Buy”. The Stochastic RSI Fast (3, 3, 14, 14) and the Williams Percent Range (14) continue to be “Neutral”at 12.40 and −42.50, respectively.
As of 10:00 AM, 28th March 2023, on WazirX, Bitcoin’s current price is ₹23,75,015, with almost 0.42% decrease in the last hour. There was a 0.20% increase in its price in the last 24 hours. The 7 day BTC was down 1.94%.
Ethereum (ETH) is trading at ₹1,51,000, with an increase of 0.65% in the last hour. There was a decrease of 0.53% in the last 24 hours. The 7 day ETH was down 2.93%.
The top gainers on WazirX include Komodo (KMD), Swipe (SXP), and Orchid (OXT), with a price increase of 25.97%, 7.63%, and 6.77%, respectively.
However, the tokens that underperformed were Celer Network (CELR), Stacks (STX), and QuickSwap (QUICK) with a price decrease of 10.8%, 10.79%, and 8.69%, respectively.
Shiba Inu (SHIB) saw a price decrease of 1.74% and is now priced at ₹0.000903. Dogecoin (DOGE) saw a decrease of 0.32% and is now priced at ₹6.39.
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.
