Bitcoin’s price remains mostly flat after a promising surge following the banking crisis in the US. Ethereum, on the other hand, shows potential for a short-term price hike due to several use cases of the blockchain.
The derivatives market also saw a surge in share.
The Exponential Moving Average for 10-day EMA indicates “Sell” at 28168 and 200-day EMA indicates “Buy” at 24713. The Simple Moving Average for 10-day SMA indicates “Sell” at 28401 and 200-day SMA indicates “Buy” at 22261.
The Ichimoku Base Line, valued at 28705, continues to be neutral. The Hull Moving Average indicates “Buy” at 27241. The Volume Weighted Moving Average indicates “Sell” at 28514.
Major market oscillators point to a neutral sentiment. The Relative Strength Index (14) sits at 42, with a neutral outlook. The Stochastic %K (14, 3, 3) at 21 and the Average Directional Index (14) at 18 indicate a Neutral outlook as well.
The MACD Level (12, 26), at −168, indicates “Sell”. The Stochastic RSI Fast (3, 3, 14, 14) is “Neutral” at 0, and William’s Percentage is “Neutral” at −77 as well.
As of 10:00 AM, 11th May 2023 on WazirX, Bitcoin’s price is ₹24,40,001, with a 2.13% decrease in the last 24 hours. The 7-day BTC was down 3.75%.
Ethereum (ETH) is trading at ₹1,64,969.7, with an increase of 0.17% in the last 24 hours. There was a 1.81% decrease in the last 7 days.
The top gainers on WazirX include ZEC (Z), Basic Attention Token (BAT), and Balancer (BAL), with a price increase of 12.12%, 8.71%, and 8.14%, respectively.
However, the tokens that underperformed comprised Jasmy Coin (JASMY), GIFTO (GFT), Yearn Finance (YFI), with a price decrease of 20.49%, 17.59%, and 13.78%, respectively.
Shiba Inu (SHIB) saw a price decrease of 1.12% and is now priced at ₹0.000799. Dogecoin (DOGE) saw a decrease of 0.76 and is now priced at ₹6.59Disclaimer: 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.