With A “Buy” Sentiment, BTC and ETH See A Minimal Price Change

By February 24, 20232 minute read

Today’s Bitcoin analysis suggests a “Buy” signal for the market.

As of now, the current price of Bitcoin (BTC) is $24,262.48, with an almost 0.43% decrease in the last hour. There was a 2.45% decrease in its price in the last 24 hours. The 7-day Bitcoin was up by 0.89%.

Ethereum (ETH) is currently trading at $1675.51, with an almost 0.42% decrease in the last hour. There has been a 1.33% decrease in its price in the last 24 hours. The 7-day ETH has been down 0.34%.

The Exponential Moving Average for 10-days indicates a “Sell,” and 200-days indicates a “Buy” at 23955.28 and 21670.50, respectively. Similarly, the Simple Moving Average for 10-days indicates a “Sell,” and 200-day SMA indicates a “Buy” at 24273.40 and 19756.62, respectively. Both moving averages indicate a mixture of “Buy” and “Sell” markets.

The Ichimoku Base Line, valued at 23323.00, remains neutral, whereas the Hull Moving Average indicates a “Sell” signal at 24029.61. The Volume Weighted Moving Average at 23369.86 continues to signal “Buy.”

Major market indicators continue to point to a neutral sentiment. The Relative Strength Index (14), one of the key indicators, sits at 57.07, with a neutral outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) is at 68.07 and 36.70, respectively, indicating a neutral market.

The MACD Level (12, 26), at 629.50, indicates a “Sell.” The Stochastic RSI Fast (3, 3, 14, 14) is at 52.23 with a “Neutral” indicator, while the Williams Percent Range (14) at −33.82 also signals “Neutral.” 

As of 09:00 AM, 24th February 2023, on WazirX, Bitcoin’s current price is ₹20,73,789, with an almost 0.62% decrease in the last hour. There was a 0.97% decrease in its price in the last 24 hours. In the past 7 days, Bitcoin was up 1.80%.

Ethereum (ETH) is trading at ₹1,42,980, with an increase of 1.04% in the last hour. There was no major change in its overall price in the last 24 hours. The 7-day ETH is up by 0.76%.

The top gainers on WazirX include AMP (AMP), Nervos Network (CKB), and Cocos-BCX (COCOS), with a price increase of 31.61%, 23.64%, and 16.83%, respectively.

However, the tokens that underperformed comprised Algorand (ALGO), Neo (NEO), and Iotx (IOTX), with a price decrease of 21.35%, 9.34%, and 5.58%, respectively.

Shiba Inu (SHIB) saw a price decrease of 1.05% and is now priced at ₹0.001128. Dogecoin (DOGE) saw a dip of 0.8% and is now priced at ₹7.40.

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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