- Bullish WRX price prediction ranges from $2.08 to $6.7.
- WRX price might also reach $10 soon.
- WRX bearish market price prediction for 2021 is $0.66.
This WazirX (WRX) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our WRX price analysis and prediction.
There are various cryptocurrencies that rose to a new all-time during this 2021 bull run. In contrast, some crypto assets also faced a price drop. As a result, many digital currency traders are worried about whether it is time to hold or sell their digital assets. This is also the same situation that crypto traders could experience in WRX.
Nevertheless, the crypto market is consolidating lately, and many cryptocurrencies are losing their previous profits. Will WRX experience the same price volatility? We’ll find out shortly in this WRX Price Prediction 2021 article. But first, let’s have a look at what WRX is.
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What is WazirX (WRX)?
WazirX is considered India’s fastest-growing crypto exchange platform with more than 400,000 users. However, it launched in 2018 with an average 4.6 app rating. Moreover, WazirX is also a part of the Binance platform. More so, WazirX and Binance have made over $50 million for Blockchain for the India fund. Added to this, the exchange is available for the global audience. Notably, the following are the key features.
- Instant INR (fiat) deposit and withdrawal options
- Smart Token Fund to help crypto investors find expert traders, and let them manage their cryptocurrency portfolio
- World’s first auto-matching P2P engine with high liquidity
- 80+ tokens
- Login via Binance option
Even more, WRX is the utility token of WazirX. WRX token is related to the Binance blockchain. However, its total supply is $1 billion. Added to this, the token holders will reward with various benefits on the crypto trading platform. These include fee discounts, WRX trade mining, airdrop, and many more.
WRX is backed by Indian entrepreneurs with more than 10 years of experience in building and scaling global products in India. In addition, WazirX was also acquired by Binance in November 2019. More so, the goal of WazirX is to make crypto accessible to everyone in India.
Now that we are clear about WRX do you think WRX will be beneficial crypto in 2021? Join me and let us see the charts in this WRX price analysis and WRX price prediction.
WazirX (WRX) Current Market Status
As of the time of writing this WRX price analysis, WRX trades at $1.16 with a 24-hour trading volume of $27,416,461. The price of WRX has increased by 3.91% in the last 24 hours.
Furthermore, WRX has a current circulating supply of 293,763,596.01 WRX. Currently, the top cryptocurrency exchanges for WRX are Binance, FTX, HitBTC, Bitcoin.com Exchange, and Gate.io
Now, let’s go to the next part of this WRX technical analysis for 2021.
WazirX (WRX) Price Analysis 2021
Currently, WRX holds the 115th place on CoinGecko. But will the latest upgrades, development, and changes in the WRX blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this WRX price prediction article.
In the chart above, which is set in a daily time frame, we can see the Channel trend pattern. A descending channel is the price action that takes place in a downward direction through a slanting parallel line. Also, the chart displays the Lower Highs and Lower Lows from this price pattern. More so, this pattern represents a short-term bearish. This is an important indicator since WRX has been showing bearish over the past month. Consequently, the descending channel pattern hints that WRX will finally go bearish
In the foreseeable future, we can say that WRX has a higher chance of going bearish than bullish. As shown above, at the beginning of this month, WRX turned from its bear to bull trend. This is the result of the high trade volume that happened in that period.
The Relative Strength Index (RSI) is above 38, which means that WRX is in a nearly oversold state. Keeping all this in mind, traders can be aware and move away from unexpected losses due to the crypto market’s wild swings.
Let us also look at the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of WRX.
Since the start of 2021, WRX’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by fluctuations, consolidation, and corrections right away. Taking this into consideration, WRX has a competitive market this 2021.
WazirX (WRX) Price Prediction 2021
The chart below shows that WRX has performed great over the past few days. Moreover, the WRX price shows a bearish trend. If this trend continues, WRX might run along with the bears, overtaking its $0.6 support level and move lower.
Conversely, if the investors turn against the crypto, the bulls might take over and push wrx from its uptrend position. In simpler terms, the price of WRX might increase to almost $6.7, a bullish signal.
Meanwhile, our long-term WRX price prediction 2021 is bullish. It has a high possibility of reaching new heights. However, that will only happen if it breaks many previous psychological resistances.
WazirX has a bright future ahead of it in 2021. With the ongoing developments happening within the WRX ecosystem, as well as in the overall crypto market, we may see WRX reach new heights. Bullish WRX price prediction 2021 is $10. As said above, it may even reach $10 if investors have decided that WRX is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.
Users can obtain WRX tokens by purchasing them from cryptocurrency exchanges such as Binance, FTX, HitBTC, Bitcoin.com Exchange, and Gate.io.
WRX is a good investment in 2021. However, WRX has a high possibility of reaching new heights this year.
Yes, it’s very much possible that WRX might reach $10 in the near future as per the current bullish trend.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.