The price of $WAXP shows signs of accumulation by buyers after a rebound was seen last week. When the price actions are confined near resistance, it usually suggests traders and analysts are strengthening positions in preparation for a breakout. The behavior of the price near these zones is of significant focus in periods where the broader outlook is positive.
Breaking resistance on higher volume warrants careful attention to whether or not the price can reclaim that level and hold. Such shifting dynamics oftenunderline strong upward momentum, most notably in assets associated with robust #Web3 infrastructure.
#SocialMining users are well equipped to observe and annotate these movements and explain how they fit into the wider development of the sector. Furthermore, sharing timely notes and technical analyses helps develop a common understanding amongst the community in a decentralized environment.
