- The WAX price falls just after the bull run to the $0.83 mark.
- The WAX/BTC pair trades at 0.00001152 BTC with a rise of 19.85%.
- The 24 -hours volume for WAX coins is $1.65 Billion, indicating a 350% hike.
The WAX coin price action gains bearish momentum with a sudden reversal in the 4-hour chart. Additionally, the bearish candlestick results in a fall of more than 10%. However, the retracement to $0.66 can halt the fall.
The WAX price shows a bullish trend, with its price trading higher than a few crucial EMAs 50, 100, and 200. Moreover, the essential EMA maintains a bullish alignment which will empower the bullish pressure. However, the fall can test the 20 days EMA shortly.
The coin price shows lower price rejection; moreover, the pivot points indicate resistance levels at the $0.88 and $1.00 mark if the price breaks above. Additionally, on the flip side, the support levels are at $0.66 and $0.55.
Will The WAX Coin Price Reach The $0.66 Mark?
We have mentioned that the WAX coins are losing bullish momentum drastically because of the bearish engulfing candlestick in the 4-hour chart. Thus, the price action indicates a fall below to the $0.66 mark.
As of press-time, the price of the coin is $0.754. Over the past 24 hours, the coin’s price has increased by 15.71%. WAX’s intraday volume traded also increased by 1000%
As it goes above its centerline, the RSI indicator indicates a rise in underlying bullishness. The slope is not divergent from the price action. The RSI indicator is a buy signal.
MACD indicators indicate that MACD moves higher than the signal lines. This suggests that the signal line in the 4-hour charts is in bullish alignment. The MACD indicator is a buy signal.
Conclusion: Technically, WAX coins show higher price rejection. This is evident in the bearish engulfing candlestick in the 4-hour chart. The bearish reversal is also indicated by the fact that the supply was met at the $0.85 mark. Therefore, traders may be able to buy at the $0.66 mark.
Resistance– $0.88 and $1
Support– $0.66 and $0.55