WRX Triggers Digital Phenomenon In India - Kakiforex | Forex markets for the smart money. WRX Triggers Digital Phenomenon In India WRX Triggers Digital Phenomenon In India

June 4, 2021

WRX Triggers Digital Phenomenon In India

 WazirX (WRX) was launched in 2018 which is a token to the cryptocurrency exchange platform from India by having more than 400,000 users. WazirX was bought by Binance in 2019 in Binance’s efforts to penetrate the Indian market.


WRX token holders will receive various benefits on the trading platform such as discount on trading fees, WRX trade mining and so on. WazirX and Binance have launched a $ 50 Million ‘Blockchain For India’ fund.


With the support of Indian entrepreneurs with over 10 years of experience in building and improving global products from India, WazirX is sure to achieve its ultimate goal of making crypto more accessible to everyone in India.


As can be seen on the WRX/USDT chart, it seems that the WRX price has made an increase of more than 50% at the June market opening to break the RBS level (resistance become support) around the $ 1.60- $ 1.80 price to trade above the $ 2.0 price level on today's market movement.


If the price movement continues to maintain the bullish trend, the SBR (support become resistance) zone around $ 3.0- $ 3.20 will be the main focus for investors to test before heading to higher price levels.



For higher price increases, the $ 4.0 resistance zone will be targeted first and next will test the all -time high (ATH) level around the $ 6.60 price.


However, if the WRX price declines again, the RBS $ 1.60- $ 1.80 level will be re-tested and investors will assess whether the zone is able to support the price spike again or decline again.


On the other hand, if the price movement continues above the RBS level of $ 1.60- $ 1.80, it is likely that the price will re-test the support level around the $ 0.80 price and may make a decline to a lower price level.


As of 5.00pm local time, the WRX price jumped over 15% to trade above the $ 2.0 level.