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WazirX (WRX) token of India’s premier cryptocurrency exchange is ranked amongst the top 5 cryptocurrencies discussed on social media with only 3 months of it entering the crypto space. The exchange is making all the ways possible for Indians to binge in cryptocurrency and trade/invest as its CEO, Nischal Shetty is quite mindful about curating the platform in such a way that it becomes easy for Indians to adopt as early as possible. With government lifting the 2018 ban on cryptocurrency trading in India, crypto holds a winning streak with the vision #IndiaWantsCrypto standing true.
Wow! Good to see $WRX as one of the top 5 tokens being discussed on social media! @WazirXIndia is growing fast. We're working on some amazing stuff internally as always. Be prepared to be surprised ✌️ https://t.co/pXKmKASBBc
— Nischal (Shardeum) 🔼 (@NischalShetty) May 1, 2020
With this, Nischal Shetty and his team working behind WazirX and its token has lured a lot of popularity and adoption or, rather I believe, if a potential Indian crypto investor decides to splurge, he/she would rather prefer WRX token as a result of sentimental and trust connection attached. This is no less than a hedging investment for Indians who are passionate about crypto trading. Checkout WazirX review by CryptoNewsZ now.
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WRX token has been on the roar since the time it went live on the world’s premier exchange Binance and is considered a safe and gainful long-term investment just like Binance Coin (BNB).
WRX Price Analysis
On the 8-hourly chart, the price of WazirX token is appearing accumulating and has strong resistance at 0.1600 against the US Dollar. On the whole, there is a fine uptrend since the mid of March after the pair bottomed out at $0.0520. However, the token is currently trading with a spur of more than 500% from the opening price 3 months back, which marks an amazing rebound after the market crash in early March. The current price trend of WRX token is well above the 38.20% Fib Retracement level, which slid above 50.0% Fib after the coin fell below $0.142, 3 days back.
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Interestingly, on the other hand, the WRX token is drawing a falling wedge against Bitcoin on a 6-hourly chart. The wedge is technically bullish in nature over the past month, and we can expect a breakout soon enough as the trend confirms the final lower low before a possible rise. The current momentum may hint at towards a consolidating selling pressure until there is a trend diversion as it hits the last possible lower low of the falling wedge.
