$WAXP WAXP/USDT Chart Analysis (1h timeframe)
Current Price: $0.02698
24h Change: +19.33%
24h High / Low: $0.03088 / $0.02251
Trend: Bullish impulse with sideways consolidation
Technical Indicators (summary):
Parabolic SAR: Currently above the price, indicating a minor correction or sideways phase after an initial surge.
MACD: Slightly bearish with MACD line below the signal line and negative histogram bars, suggesting momentum weakening.
MA5 & MA10: Price is fluctuating just above both moving averages, showing balanced consolidation after a breakout.
Volume: Spiked sharply on the breakout candle but has since reduced, reflecting the shift from active buying to a cooling phase.
Price Action:
#WAXP saw a strong upward move from $0.02128 to a peak of $0.03088, driven by a bullish breakout supported by high volume. After topping out, price retraced and entered a consolidation range between $0.0258 and $0.0275. Currently, candles are forming tight bodies with lower wicks, indicating buying support on dips.
Outlook:
Bullish scenario: A breakout above $0.0275 could test the $0.0300 zone again, with potential extension to $0.0318 if momentum returns with volume.
Bearish scenario: Failure to hold $0.0255 may trigger a deeper pullback toward $0.0240, where MA10 and previous support converge.
Conclusion:
WAXP/USDT is currently in a bullish-to-neutral phase. The recent rally has paused into a range, with indicators suggesting temporary exhaustion. However, the price structure remains constructive as long as it holds above $0.0255. Traders should monitor volume closely — a strong surge with a bullish breakout above $0.0275 would signal trend continuation. On the downside, a drop below support could open short-term bearish pressure.