Crypto exchanges Binance and KuCoin are returning to India. Reported by #Coindesk.

The exchanges received the go-ahead from India's financial intelligence agency. The issue of paying fines is being resolved.

These two exchanges are the first among the global ones to be banned in December 2023 and return to the Indian market. #Kraken,#Geminiand#Gatehave just begun negotiations with the regulator.#OKXand#Bitstampare leaving the country.

Earlier, exchange CEO Richard Teng said in a#Bloombergcommentary that Binance is determined to return to India.

Let us repeat what we have already written - the return of global exchanges and especially Binance to the Indian market is hardly positive for the local crypto exchange WazirX and its#WRXtoken. At the very least, it is unlikely to be positive for#WazirXif#Binancecomes as a competitor and not as a partner. And the first one is just more likely.

BUT technically the WRX looks good for a current purchase. After the correction, the asset consolidated above the EMA of the 50 weekly TF and recovered above the upward trend since October 2023. It is necessary to consolidate above the EMA of the 50 and 200 daily TF and the volume level of $0.2459. The goal is a test of the EMA 200 of the weekly TF, currently $0.4336.

The asset is risky, WRX has been in the “Monitoring” category on Binance since August 2023 and this is a threat of delisting.

We opened a spot deal on the asset back on February 27 at the rate of $0.2516. It was expected that the EMA 200 of the weekly TF and the weekly TF would be reached then. But the price corrected impulsively in April, and we remained in the position to wait out the drawdown. It was reasonable to close in the first half of March at +57%. We missed the turnaround during the day.