A Sudden Price Hike Brings Bullish Mid-week for WazirX

WazirX’s price has recently managed a sharp bullish break-out from a flattish price consolidation. It was yesterday when the coin shot up while clearing major price barriers. The recently launched crypto coin seems to be pacing up with Bitcoin’s price movements as BTC also has started an uptrend.

As WRX price stably maintained the price escalation, WazirX’ founder Nischal Shetty stirred the crypto community with an encouraging tweet,

Did $WRX lift the spirits of the crypto market today 🤔

— Nischal (Shardeum) ⚡️ (@NischalShetty) March 2, 2020

While India is slowly waking up to crypto adoptions, WazirX, the exchange behind the WRX token has emerged as the most prominent name in the region. WazirX exchange is anticipated to kickstart a new era in the Indian crypto space. Also, the token, WRX, is spearheading the market to quite an extent at the moment.

Coming back to its price trend, WRX went up by more than 27% yesterday and today it has corrected down a bit. However, the coin is still keeping up with bulls as it is well above its immediate support of 38.20% Fib level.

Also, WRX has climbed above the 200-day EMA line noting a strong bullish bias. Meanwhile, Bollinger bands are heading towards a bit volatile phase. Notably, WRX has recently formed a bullish candle.

Today’s price actions of WRX token are out and out bullish. The coin has formed higher lows and is testing resistance levels above $0.072 right now. However, the MACD indicator has started to head downwards noting a negative sign with its signal line on the downside. Now, it is to be seen whether the bull run sustains for a longer-term.