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Bitcoin brushes off market FUD, increases in price

By November 23, 20232 minute read

The recent Federal Reserve meeting hasn’t completely dismissed the potential for a future rate hike if economic conditions necessitate. The pace of economic growth appears to have slowed, potentially influencing upcoming policy decisions.

Bitcoin has experienced a remarkable surge, surpassing a 100% increase, showcasing a notable performance year-to-date. Concurrently, Ethereum is demonstrating steady upward momentum, nearing the $2200 threshold.

The Exponential Moving Average for 10-day EMA indicates β€œBuy” at 36853 and 200-day EMA indicates β€œBuy” at 29520. The Simple Moving Average for 10-day SMA indicates β€œBuy” at 36829 and 200-day SMA indicates β€œBuy” at 29125.

The Ichimoku Base Line, valued at 35962, continues to be neutral. The Hull Moving Average indicates β€œBuy” at 30729. The Volume Weighted Moving Average indicates β€œBuy” at 36530. 

The Relative Strength Index (14) sits at 60, indicating β€œNeutral”. The Stochastic %K (14, 3, 3) at 62 and the Average Directional Index (14) at 56 indicate a Neutral outlook. 

The MACD Level (12, 26), at 1093, indicates β€œSell”. The Stochastic RSI Fast (3, 3, 14, 14) at 16 and William’s Percentage at -21 indicate β€œNeutral”.

As of 10:00 AM, 23rd November 2023, on WazirX, Bitcoin’s price is β‚Ή32,65,305, with a 0.05% decrease in the last 24 hours. There was a 0.16% increase in its price in the last week.

Ethereum (ETH) is trading at β‚Ή1,81,000. There was a decrease of 0.01% in the last 24 hours. There was a 3.08% decrease in its price in the last week.

The top gainers on WazirX include Blur (BLUR), FTX Token (FTT), Uniswap (UNI) with price increases of 23.35%, 23.05%, and 18.29%, respectively.

However, the tokens that underperformed comprised Skale Network (INJ), Decred (DCR), and Synthesis Network Token (STMX), with a price decrease of 13.78%, 12.82%, and 8.39%, respectively.

Shiba Inu (SHIB) saw a price decrease of 0.69% and is now priced at β‚Ή0.000711. Dogecoin (DOGE) saw a increase of 1.03% and is now priced at β‚Ή6.61.

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