In technical analysis, Wazirx is the largest crypto exchange in India. It is a simple, straightforward, and user-friendly interface. It is highly secure with amazing transaction speeds. WRX is the native token of this exchange. The maximum supply of WRX is capped at 1 billion.
On March 27, 2021, the opening price of WRX is $0.47. As of April 3, 2021, the closing price of WRX is $1.71. Thus, the WRX price has skyrocketed by approximately 264% over the past week. In the last 24 hours, WRX has traded between $1.48-$1.98.
Day-Ahead and Tomorrow
Currently, WRX is trading at $1.79. The price has increased from the opening price of $1.71. Thus, the market looks bullish.
The A/D indicator is falling. This implies that whale distribution is higher than whale accumulation. Thus, the WRX price is likely to go up further.
The MACD and signal lines are positive. A bearish crossover by the MACD line over the signal line indicates that selling pressures are slowly mounting. Thus, we can expect a price pullback amidst an overall bullish trend.
The RSI is currently at 57%. It faced a bearish swing rejection at 65%. Thus, selling pressures are high. Hence, we can expect a price pullback.
Wazirx Technical Analysis
As per technical analysis, the price is currently above the Fibonacci pivot point of $1.73. It may break out of the first resistance level of $1.91 in some time. If the bulls remain strong, we can expect the price to break out of the second resistance level of $2.03, by day end.
The price may soon test and fall below the 38.2% FIB retracement level of $1.79, as many of the oscillators have indicated a price pullback. If by day end, the price and retests the 23.6% FIB retracement level of $1.86, then we can be assured that the bulls are strong. In that case, the bull-run can continue tomorrow as well.