WazirX (WRX) Technical Analysis 2021 for Crypto Traders

WazirX (WRX) Technical Analysis 2021 for Crypto Traders

In WazirX (WRX) Technical Analysis 2021, we use past statistics, price analysis, RVOL, MA, and much other information about WRX to analyze the future trend of the cryptocurrency

WazirX is a cryptocurrency exchange with an advanced trading interface and functions for buying, selling and exchanging cryptocurrencies. Moreover, 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. 

WazirX (WRX) Current Market Status

According to CoinGecko, the WRX price is trading at $1.12 with a 24-hour trading volume of $47,458,668, at the time of writing. However, WRX has decreased by 1.8% in the last 24 hours. 

In addition, WRX has a circulating supply of 452,623,998 WRX. Currently, WRX trades in Binance, Tokocrypto, FTX, HitBTC, and Bitcoin.com Exchange. 

WazirX (WRX) Technical Analysis 2021 

WazirX (WRX) holds the 119th position on CoinGecko right now. The recent development and upgrades might push WRX to reach new heights. Now, let’s deep dive into the WRX technical analysis 2021. The daily time frame chart of WazirX (WRX) is shown below.

WRX/USDT Rising Wedge Pattern (Source: Tradingview)

The rising wedge pattern is a bearish pattern that begins wide at the bottom and contracts as prices move higher and the trading range narrows. A rising wedge pattern can be one of the most difficult patterns to accurately recognize and trade.

WazirX (WRX) RSI

The below chart shows the relative strength index (RSI) of WRX. 

WRX RSI (Source: TradingView)

As shown in the above chart, RSI remains at 54.45. This shows that WRX’s price is in neither overbought nor oversold state. However, this shows that traders can trade fearlessly.

WazirX (WRX) RVOL

The below chart shows the Relative Volume of WRX. It is an indicator that indicates to traders how the current trading volume has changed over a period of time compared to the previous trading volume.

WRX RVOL(Source: TradingView)

Currently, the RVOL of WRX lies above the cutoff line which represents the stronger volume in the current trend.

WazirX (WRX) Moving Average

WRX’s Moving Average (MA) is shown in the chart below. MA supports traders to find trends.

WRX MA (Source: TradingView)

WRX price fell at 50 MA (short-term), but it has not broken through 200 MA. Once it breaks the 200 MA level of WRX, it completely goes to a bearish state.

WRX prices are currently trading around 200MA, so we can expect some reversals at these points.

WazirX (WRX) Price Comparison With Bitcoin

The below chart shows the price comparison between WRX and BTC. 

WRX vs BTC Price Comparison chart(Source: TradingView)

From the chart, we can identify the trend of the BTC and WRX is moving at the same level as the trend. This indicates when the price of BTC increases or decreases, the price of WRX also increases or decreases respectively.

Conclusion

With the ongoing developments and upgrades that are taking place within the WRX platform. WazirX has a great future ahead in this crypto market. However, WRX can reach new heights.

Bullish WRX price prediction 2021 is $6.82. As mentioned above, it may reach great heights, however reaching $7, if investors have decided that WRX is a good investment in 2021.

FAQ

What is WRX?

WazirX’s native token, WRX, is the utility token forming the backbone of the WazirX ecosystem. WRX tokens are based on Binance Chain.

Where can you purchase WRX?

WRX is listed on many cryptocurrency exchanges that include Binance, Tokocrypto, FTX, HitBTC, and Bitcoin.com Exchange. It is available for trading against crypto fiat coins, stablecoins, and other cryptocurrencies.

Will WRX reach a new ATH soon?

With the ongoing developments and upgrades within the WRX platform, it has the high possibility of reaching its ATH soon.

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.