- WAXP coin price reclaims the 50 EMA line
- The WAXP/BTC pair trades at 0.00001629 BTC with a gain of 32.52%.
- The 24 -hours volume of the coin is $1.31 Million, indicating a 1915% rise.
The WAXP coin initiated a correction phase when the price was rejected from a high of the $0.95 mark. The moderate pullback plunged the coin price to $0.47, trying to obtain sufficient demand pressure from this support.
The coin hovered above this level for a few days, and on a faithful day, i.e., December 8th, the price showed a sudden surge in its value, indicating a 38% gain in its intraday value, with a huge boost in volume activity.
Additionally, the EMAs showcase bullish alignment within the crucial EMAs(20, 50, 100, and 200). Moreover, the 100-day EMA provides strong support to the coin price.
Furthermore, the pivot point suggests resistance levels around the $0.68 and $0.98 mark. Additionally, on the reverse side, the support line is located at $0.38 as well as at the $0.078 mark.
At the time of writing this analysis, it is around $0.613, with an intraday loss of 8.9%.
The WAXP Coin In The 4-hour Time Frame Chart
The WAXP coin is currently facing strong resistance from the $0.69 mark. Though the price has shown a strong bullish reversal from the bottom support level of $0.47, the price needs to break this overhead resistance for better confirmation.
The daily RSI indicator has an impressive recovery in its value with the recent price surge, supporting the new rally.
Conclusion: From a technical perspective, the WAXP coin indicates increased trend momentum. However, the coin is indicating intense supply pressure at the $0.69 resistance, and therefore investors looking out for a buying opportunity need to wait till the price gives a proper breakout from this level.
Support – $0.69 and $0.95
Resistance – $0.47 and $0.34
DISCLAIMER: The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.