WazirX Price Prediction 2022 — Will WRX Hit $7 Soon?

  • Bullish WRX price prediction is $2.204 to $6.767.
  • The WRX price will also reach $7 soon.
  • WRX’s bearish market price prediction for 2022 is $0.061.

In WazirX’s (WRX) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and much other information about WRX to analyze the future movement of the cryptocurrency. 

WazirX Current Market Status

According to CoinGecko, the price of WRX is  $0.785423 with a 24-hour trading volume of $9,547,998 at the time of writing. However, WRX has decreased nearly 8.9% in the last 24 hours.

Moreover, WRX has a circulating supply of   456,517,027 WRX. Currently, WRX trades in cryptocurrency exchanges such as Binance, FTX, Mandala Exchange, KuCoin, and Gate.io.

What is WazirX (WRX)?

WazirX is one of India’s most trusted cryptocurrency exchanges. WRX is the utility token of WazirX. It is based on Binance blockchain WRX token holders will be rewarded with various benefits on the trading exchange like trading fee discounts, WRX trade mining, token airdrop, margin fee, and some more. The main goal of the WazirX is to make crypto accessible to everyone in India. 

WazirX (WRX) Price Prediction 2022

WazirX holds the 187th position on CoinGecko right now. WRX price prediction 2022 is explained below with a weekly time frame.

WRX/USDT Descending Triangle Pattern (Source: Tradingview)

The descending triangle pattern forms at the end of a downtrend or after a correction to the downtrend. The descending triangle is a bearish pattern that is characterized by a descending upper trendline and flat lower that acts as support. The descending triangle is often referred to as the falling triangle has an inherent measuring technique that can be applied to the pattern to gauge likely take profit targets. 

Currently, WRX is in the range of $0.785423. If the pattern continues, the price of WRX might reach the resistance level of $1.153, $2.029, & $6.896. If the trend reverses, then the price of WRX may fall to $0.673.

WazirX (WRX) Support and Resistance Level

The below chart shows the support and resistance level of WRX.

 WRX/USDT Support and Resistance Level (Source: TradingView)

From the above daily time frame, it is clear the following are the resistance and support levels of WRX.

Resistance Level 1 $2.204
Resistance Level 2 $6.767
Support Level 1 $0.677
Support Level 2 $0.203
Support Level 3 $0.061
WRX Resistance & Support Level

The charts show that WRX has performed a bullish trend over the past month. If this trend continues, WRX might run along with the bulls overtaking its resistance level at $0.16017

Accordingly, if the investors turn against the crypto, the price of the WRX might plummet to almost $0.02130, a bearish signal.

WazirX Price Prediction 2022 — RVOL, MA, and RSI

The Relative Volume (RVOL) of WRX is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of WRX lies below the cutoff line, indicating weaker participants in the current trend.

WRX/USDT RVOL, MA, RSI (Source: TradingView)

More so, WRX’s Moving Average (MA) is shown in the chart above. Currently, WRX is in a bearish state. Notably, the WRX price lies below 50 MA (short-term), so it is completely in a downward trend. Therefore, there is a possibility of a reversal trend of WRX at any time.

Meanwhile, the relative strength index (RSI) of the WRX is at level 39.40. This means that WRX is in a nearly oversold state. However, this means a major price reversal of WRX may occur in the upcoming days. So, traders need to trade carefully. 

WazirX Price Prediction 2022 — ADX, RVI

Let us now look at WazirX’s Average Directional Index (ADX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.

WRX/USDT ADX, RVI (Source: TradingView)

The above chart represents the ADX of WazirX. Currently, WRX lies in the range of 19.730 so it indicates a weak trend. 

From the above chart, the Relative Volatility Index (RVI) of WRX. RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of WRX lies above the 50 levels, indicating that the direction of volatility is high. In fact, WRX’s RSI is at 39.40 level thus confirming a potential sell signal.

Comparison of WRX with BTC, ETH

The below chart shows the price comparison between Bitcoin, Ethereum, and WazirX.

BTC Vs ETH Vs WRX Price Comparison (Source: TradingView)

From the above chart, we can identify the trend of the ETH, BTC, and WRX is moving at the same level as the trend. This indicates that when the price of BTC increases or decreases, the price of ETH and WRX also increases or decreases respectively.

Conclusion

With continuous improvements in the WazirX network, we can say that 2022 is a good year for WRX. For this reason, the bullish price prediction of WazirX in 2022 is $6.767. On the other hand,  the bearish WRX price prediction for 2022 is $0.061.

Furthermore, with the advancements and upgrades on the WRX ecosystem, the performance of WRX would help to reach above its current all-time high (ATH) $5.88 very soon. But, it might also reach $7 if the investors believe that WRX is a good investment in 2022.

FAQ

1. What is WazirX?

WazirX is one of India’s most trusted cryptocurrency exchanges. WRX is the utility token of WazirX.

2. Where can you purchase WRX?

WRX has been listed on many crypto exchanges which include Binance, FTX, Mandala Exchange, KuCoin, and Gate.io.

3. Will WRX reach a new ATH soon?

With the ongoing developments and upgrades within the WRX platform, it has a high possibility of reaching its ATH soon.

4. What is the current all-time high (ATH) of WazirX?

On April 05, 2021, WRX reached its new all-time high (ATH) of $5.88.

5. Is WRX a good investment in 2022?

WazirX (WRX) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of WRX in the past few months, WRX is considered a good investment in 2022.

6. Can WazirX (WRX) reach $7?

WazirX (WRX) is one of the active cryptos that continues to maintain its Bullish state. Eventually, if this bullish trend continues then WazirX (WRX) will hit $7 soon.

7. What will be the WRX price by 2023?

WazirX (WRX) price is expected to reach $85 by 2023.

8. What will be the WRX price by 2024?

WazirX (WRX) price is expected to reach $96 by 2024.

9. What will be the WRX price by 2025?

WazirX (WRX) price is expected to reach $104 by 2025.

10. What will be the WRX price by 2026?

WazirX (WRX) price is expected to reach $120 by 2026.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

The post has appeared first on thenewscrypto.com

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