With An Overall “Buy” Sentiment, BTC Lays Low

By March 7, 20232 minute read

As of now, the current price of Bitcoin (BTC) is $22,842.65, with an almost 0.16% increase in the last hour. There was a 0.38% increase in its price in the last 24 hours. The 7-day Bitcoin was down by 3.98%.

Ethereum (ETH) is currently trading at $1607.91, with an almost 0.26% increase in the last hour.  There has been a 0.87% increase in its price in the last 24 hours. The 7-day ETH has been down 3.40%.

The Exponential Moving Average for 10-days indicates a “Sell,” and 200-days indicates a “Buy” at 22834.94 and 21796.16, respectively. Similarly, the Simple Moving Average for 10-days indicates a “Sell,” and 200-day SMA indicates a “Buy” at 22933.60 and 19717.18, respectively. Both moving averages indicate a mixture of “Buy” and “Sell” markets.

The Ichimoku Base Line, valued at 23323.00, continues to be neutral, whereas the Hull Moving Average indicates a “Buy” signal at 22154.14. The Volume Weighted Moving Average at 23654.41 continues to signal “Sell.”

Major market indicators point towards a “Buy” sentiment. The Relative Strength Index (14), one of the key indicators, sits at 44.64, with a neutral outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) is at 15.04 and 21.21, respectively, further indicating a mix of buy and neutral market.

The MACD Level (12, 26), at -87.66, indicates a “Sell.” The Stochastic RSI Fast (3, 3, 14, 14) is at 6.04 with a “Neutral” indicator, while the Williams Percent Range (14) at −88.58 signals “Buy.” 

As of 09:00 AM, 07th March 2023, on WazirX, Bitcoin’s current price is ₹19,57,030, with an almost 2.09% 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 down by 1.90%.

Ethereum (ETH) is trading at ₹1,38,496, with an increase of 0.57% in the last hour. There was an increase of 0.49% in the last 24 hours. The 7-day ETH is up by 1.24%.

The top gainers on WazirX include REN (REN), Decentraland (MANA), and PancakeSwap (CAKE), with a price increase of 13.65%, 7.75%, and 6.97%, respectively.

However, the tokens that underperformed comprised Decred (DCR), Kusama (KSM), and Spell Token (SPELL), with a price decrease of 5.5%, 5.34%, and 4.54%, respectively.

Shiba Inu (SHIB) saw a price increase of 1.32% and is now priced at ₹0.000995. Dogecoin (DOGE) saw a rise of 0.75% and is now priced at ₹6.6001.

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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