SEC’s lawsuit against the largest Crypto exchanges and potential crackdown of stablecoins makes stakeholders worry about the price movements of key tokens.
Barring the initial shock of the crackdown, the DeFi ecosystem has been able to shrug off the implications of SEC’s anti-Crypto movement. However, a price correction in the coming days cannot be ruled out since the regulatory landscape remains uncertain.
The Exponential Moving Average for 10-day EMA indicates “Sell” at 26732 and 200-day EMA indicates “Buy” at 25270. The Simple Moving Average for 10-day SMA indicates “Sell” at 26779 and 200-day SMA indicates “Buy” at 23455.
The Ichimoku Base Line, valued at 26901, continues to be neutral. The Hull Moving Average indicates “Sell” at 26405. The Volume Weighted Moving Average indicates “Sell” at 26854.
Major market oscillators point to a neutral sentiment. The Relative Strength Index (14) sits at 45, with a neutral outlook. The Stochastic %K (14, 3, 3) at 35 and the Average Directional Index (14) at 22 indicate a Neutral outlook as well.
The MACD Level (12, 26), at −261, indicates “Sell”. The Stochastic RSI Fast (3, 3, 14, 14) is “Neutral” at 41 and William’s Percentage indicates “Neutral” at -64 as well.
As of 10:00 AM, 9th June 2023, on WazirX, Bitcoin’s price is ₹23,40,001, with 1.40% increase in the last 24 hours. In the past 7 days, Bitcoin was down by 0.15%.
Ethereum (ETH) is trading at ₹1,64,000. There was a 0.89% increase in the last 24 hours. The 7 day ETH was down by 1.80%.
The top gainers on WazirX include IDEX (IDEX), Cream Finance (CREAM), and Uniswap (UNI), with a price increase of 171.11%, 8.1%, and 7.41%, respectively.
However, the tokens that underperformed comprised Ethereum Naming Service (ENS), QuickSwap (QUICK), and Alpaca Finance (ALPACA), with a price decrease of 12.65%, 11.46%, and 10.3%, respectively.
Shiba Inu (SHIB) saw a price decrease of 0.42% and is now priced at ₹0.000705. Dogecoin (DOGE) saw an increase of 2% and is now priced at ₹6.07.
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.
