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Prices of key tokens increase over the last 24 hours; market unifies against Crypto crackdown

By June 8, 20232 minute read

Ethereum Layer 2 tokens see a price surge with a reduction in gas fees. Tether continues its quest to dominate the market and capitalize on the latest positive sentiment towards stablecoins. .

Amidst uncertainty in regulations, Bitcoin’s moving averages indicate a ‘Sell’ sentiment.

The Exponential Moving Average for 10-day EMA indicates “Sell” at 26767 and 200-day EMA indicates “Buy” at 25256. The Simple Moving Average for 10-day SMA indicates “Sell” at 26889 and 200-day SMA indicates “Buy” at 23401. 

The Ichimoku Base Line, valued at 26901, continues to be neutral. The Hull Moving Average indicates “Sell” at 26358. The Volume Weighted Moving Average indicates “Sell” at 26876.

Major market oscillators point to a neutral sentiment. The Relative Strength Index (14) sits at 44, with a neutral outlook. The Stochastic %K (14, 3, 3) at 42 and the Average Directional Index (14) at 22 indicate a Neutral outlook as well.

The MACD Level (12, 26), at −261, indicates “Buy”. The Stochastic RSI Fast (3, 3, 14, 14) is “Neutral” at 48 and William’s Percentage indicates “Neutral” at -67 as well.

As of 10:00 AM, 8th June 2023, on WazirX, Bitcoin’s price is ₹23,38,815, with 0.50% increase in the last 24 hours. In the past 7 days, Bitcoin was down by 1.57%.

Ethereum (ETH) is trading at ₹1,62,200. There was a 0.12% increase in the last 24 hours. The 7 day ETH was down by 2.87%.

The top gainers on WazirX include Alpha Finance Labs (ALPHA), Oasis Network (ROSE), and Stacks (STX), with a price increase of 17.01%, 6.5%, and 6.27%, respectively.

However, the tokens that underperformed comprised injective Protocol (INJ), VITE (VITE), and Uniswap (UNI), with a price decrease of 11.69%, 11.5%, and 11.3%, respectively.

Shiba Inu (SHIB) saw a price decrease of 2.06% and is now priced at ₹0.000712. Dogecoin (DOGE) saw a decrease of 2.27% and is now priced at ₹6.01.

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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