As the crypto market saw massive losses recently due to Coronavirus, WazirX has also faced a bit rough patch this week. The coin dropped from the heights above $0.22 and bottomed below $0.16 over a couple of days. WazirX price has declined in the latter part of yesterday.
WRX Price Analysis
A sharp yet not so high price rebound had ushered the WRX coin above $0.20, but the price recovery has not lasted. Yesterday, after the currency opened at $0.19, it has seen a steady drop in its price, and by today, it has reached pretty much near its weekly low price level.
Today, the coin has traded way below its 200-day EMA line. Also, it has formed a falling flag pattern. Notably, Bollinger bands are not showing any volatility for the coin in the near term.
WRX’s monthly chart seems a bit less bearish; however, it has already crossed the 50% Fib level with a downward trend. WazirX’s price was started sharp bullish break out at the beginning of the month reached as high as $0.21 with a hike of more than hefty 270% on March 7, and now the coin is struggling to halt the price drop at $0.13.
Speculations are making rounds in the market that the coin may trade all the more downwards. At this moment, it seems HODL is the only thing investors can opt for. In its monthly chart, the MACD chart is also continuing in the red zone.