Another global crypto exchange will stop operating in India. And this is another plus for our deal on#WRX- the token of the Indian crypto exchange #WazirX.

Let us recall that at the end of 2023 local regulators accused leading trading platforms of violating the law and operating without a license. And at the beginning of 2024, they began to block access to global crypto exchanges. Leaving access to locals. WazirX is among the top ones among them.

In a statement, the exchange said that in accordance with local legislation, users must “close out all margin positions, as well as positions in perpetual contracts, futures and options,” by April 30, 2024. This exodus of global exchanges from the Indian market is sure to continue. Strengthening the position of local players.

Our spot deal on WRX is live. Although the latest correction hit the growth of the asset price. At the moment, the paper profit was already +57%, but the sellers’ reaction clearly began from the volume level of $0.3964. The price was held by the volume level of $0.2432 and the downward trend since December 29, 2023. During the correction, the price dropped slightly below the entry point of $0.2516. But already in profit by +8.6%.

Our take profit is the same - $0.4399. Why - they described it in the setup. After the correction, we expect to see a resumption of growth, which will cover the imbalance of the fall in the token price in May 2022. The price has now essentially almost returned to its starting point, but at the same time it has greatly unloaded the indicators and, in many ways, is close to oversold.

Now, to work out the goals of the setup, it is important to fix the body of the candle above the EMA of the 50 day TF, currently $0.2734.

$WRX