Recent market stabilization was met by a recovery by @WAX hit the $WAXP that was being supported by a lower support level as sparked in a #SocialMining initiative by @DAO Labs . Even though this movement can give temporary relief, the absence of bullish confirmation is once again restraining price continuation to the upside.
This has been seen in the inability of first green resistance level to be breached and buyers still appear to be on the defensive. Absent a fundamental reason, including macro-based support, there is a plausible risk of a second leg down. Under such conditions price can retest, or even go in search of new supports at lower ranges.
To Social Miners in the #WAXHub , the environment supports good strategic positioning of cost averaging and active discipline of participating. The zone of high-probability entries will be an identifiable metric that will be both crucial to the personal domain strategy and the development of the wisdom of the crowd in the DAO Labs universe.
Bringing the uncertainty in the market to organized action enables the contributors to have a clear signal through the larger noise. The current chart formation has yet to confirm reversal of the trend, but the sub-surface work of the same is being gingerly carved out through on-chain behavior as well as community-wide engagement in digging.
With $WAX being technically in the pocket, the Social Mining keeps receiving real-time values yet not product of price speculation.
