WazirX Price Prediction 2021 – Will WRX Hit $3 Soon?

WazirX Price Prediction 2021 - Will WRX Hit $3 Soon?
  • Bullish WRX price prediction ranges from $1.309 to $2.875.
  • WRX price might also reach $3 soon.
  • WRX bearish market price prediction for 2021 is $0.595.

In WazirX (WRX) price prediction 2021, we use statistics, price analysis, ADX, and many other information about WRX to analyze the future trend of cryptocurrency.

WazirX is a cryptocurrency exchange with an advanced trading interface and functions for buying, selling and exchanging cryptocurrencies. It is an exchange with a real-time open order book system that allows users to trade more than 80 digital assets, such as Bitcoin, BNB, Bitcoin Cash, Litecoin, Dash, etc. 

Users can deposit/withdraw cryptocurrency and receive/withdraw USDT through Peer-to-Peer (“P2P”) convert to Indian Rupees (“INR”) and store their digital assets securely on WazirX. So far, WazirX Peer-to-Peer is India’s INR deposit and withdrawal method, and it is growing steadily. 

WazirX’s native token, WRX, is the utility token forming the backbone of the WazirX ecosystem. WRX tokens are based on Binance Chain, and future use cases include: transaction fee discounts, WRX Trade mining (unlocking WRX tokens and earning through transactions), paying for margin fees, and more.

According to CoinGecko, the WRX price is trading at $1.06 with a 24-hour trading volume of $13,671,710, at the time of writing. However, WRX has increased by 3.1% in the last 24 hours.

Moreover, WRX has a circulating supply of 452,623,998 WRX. Currently, WRX trades in cryptocurrency exchanges such as Binance, FTX, HitBTC, Bitcoin.com Exchange, and Gate.io. 

WazirX (WRX) Price Prediction 2021

WRX holds the 147th position on CoinGecko right now. WRX price prediction 2021 explained below with a daily time frame.

WRX/USDT Price Chart Daily Time Frame (Source: TradingView)

The above chart shows the Symmetrical Triangle patterns. Generally, a symmetrical triangle is composed of a downward diagonal upward trend line and an upward diagonal downward trend line. When the price rises, it will inevitably break through the upper trend line to break, and in an uptrend, the price will rise or break. A lower trend line that forms a breakthrough and a downward trend in which prices fall.

In the daily time frame chart,  if the price of the WRX breaks the resistance level of $1.733, it will reach the target of $2.35. Or else, if the price of the WRX breaks the support level of $0.324 means it will fall to the next support level at $0.639. So, the trend of the WRX is based on the breakout.

WRX Support and Resistance Level

The below chart shows the support and resistance level of WRX.

WRX/USDT Support and Resistance Level (Source: TradingView)

From the above daily time frame, it is clear the following are the resistance and support level of WRX.

  • Resistance Level 1 – $1.309
  • Resistance Level 2 – $1.771
  • Resistance Level 3 – $2.313
  • Resistance Level 4 – $2.875
  • Support Level 1 – $0.939
  • Support Level 2 – $0.595

The charts show that WRX has performed a bullish trend over the past month. If this trend continues, WRX might run along with the bulls overtaking its resistance level at $2.875.

Conversely, if the investors turn against the crypto, the price of WRX might plummet to almost $0.595, a bearish signal.

WRX Average Directional Index (ADX)

Now let’s look at the average directional index (ADX) of WRX. Generally, ADX is used to measure the overall strength of the trend and it is related to the Directional Movement Index (DMI).

The oscillator ranges from 0 to 100. Moreover, a high price indicates a strong trend, and a low price shows a weak trend. It is often combined with directional indicators. 

WRX/USDT ADX(Source: TradingView)

The above chart shows the ADX of WRX stays above the range of 28.318, so it indicates a strong trend.

Conclusion

WRX is one of the cryptocurrencies that keeps its ground against the bear market. Furthermore, our long-term WRX price prediction for 2021 is bullish. It has a huge possibility of overtaking its current all-time-high (ATH) of $5.88 this year. However, this only happens when WRX breaks a lot of past psychological resistance.

Furthermore, with the ongoing developments and upgrades within the WRX ecosystem, it could experience a great future ahead in 2021. It may reach $2.35 soon and it might even reach high heights, however reaching $3, if investors have planned that WRX is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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Monisha is a Senior Programmer in the Automotive Embedded domain. Her interest in the cryptocurrency field made her write about crypto and blockchain-related news.