- Wazirx recovery from March lows at $0. 05 stalls under $0.15.
- A triangle support breakout is in the offing as WRX /USD consolidates under $0.15.
Meanwhile, Wazirx is trading 1.36% higher against the US dollar . It has lost 0.17% against Bitcoin in the last 24 hours. Moreover, it is trading 3% lower against the world's largest altcoin Ethereum .
WRX/USD is flirting with $0.1347 at the time of writing. The crypto has been consolidating under $0.15 following a recovery from the major support at $0. 05 . In March, Wazirx rallied to a new all-time high; $0.23. However, amid the Coronavirus pandemic, the price collapsed massively from the news highs to the aforementioned support at $0. 05 .
From a technical perspective, the ongoing sideways trading could take precedence in the coming sessions, maybe even a week unless WRX finds a key catalyst. For instance, the consolidation is taking place in the apex of a symmetrical . If the bulls are able to overcome the pattern’s resistance, then WRX /USD can have the path to $0.20 cleared due to a technical breakout.
Indicators such as the ( ) are moving horizontally around the average to show that the and pressures are canceling out. This means that the can lead to either a breakout or a breakdown depending on who among the bulls and the bears is stronger. On the downside, support is anticipated at $0.10 and $0. 05 .